Proposing a constitutional amendment prohibiting the enactment of a law imposing an occupation tax on certain entities that enter into transactions conveying securities or imposing a tax on certain securities transactions.

This proposed constitutional amendment would prohibit Texas from imposing a business license tax on certain financial entities or a tax on their securities transactions. It specifically targets "registered securities market operators" (including stock exchanges, brokers, and clearing agencies regulated by federal agencies like the SEC) for transactions involving securities. The amendment allows existing taxes like sales taxes, insurance premiums, and general business taxes, but blocks new taxes on financial market activities. If passed, this would require voter approval to amend the Texas Constitution.