Bill > SJR18

This joint resolution proposes a constitutional amendment to prohibit the Texas Legislature from imposing taxes on capital gains for individuals, families, estates, or trusts. Specifically, the amendment would prevent taxation on both realized and unrealized capital gains, which means the legislature cannot tax either the actual profits from selling an asset or the potential increase in an asset's value before it is sold. The proposed amendment includes important exceptions, ensuring that other types of taxes remain unaffected, such as property taxes (ad valorem taxes), sales taxes on goods and services, and use taxes. If approved by voters in the November 4, 2025 election, this amendment would add Section 24-b to Article VIII of the Texas Constitution, providing a constitutional protection against capital gains taxes. The ballot language will ask voters whether they support "The constitutional amendment prohibiting the imposition of a tax on the realized or unrealized capital gains of an individual, family, estate, or trust."

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=SJR18