Relating to an increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district and the protection of school districts against certain losses in local revenue.

Increased the homestead exemption from $100,000 to $140,000 for property tax purposes, with only $5,000 of the exemption applying to certain entities.

Adjusted state aid formulas to account for revenue losses when the homestead exemption increases, ensuring districts receive additional funding to offset reduced local revenue.

Added new provisions for the 2025-2026 school year requiring school districts to calculate state aid as if the constitutional amendment had not occurred, with expiration dates in 2026.

Established new election date requirements for school districts, allowing commissioners to approve delayed elections and set specific dates for holding votes on the constitutional amendment.

Created provisional tax bill procedures for the 2025 tax year, allowing districts to issue bills assuming the constitutional amendment would pass, with adjustments made based on actual election results.

Added provisions requiring commissioners to order property detachments and annexations to reduce local revenue levels for districts that fail to hold elections or don't receive voter approval.