Bill > HJR6

This joint resolution proposes a constitutional amendment to prohibit the Texas Legislature from imposing taxes on capital gains, which are profits earned from selling investments or assets, whether those gains are realized (actually received) or unrealized (potential gains not yet converted to cash). Specifically, the amendment would prevent the state from taxing capital gains for individuals, families, estates, or trusts, including taxes on the sale or transfer of capital assets. However, the resolution includes important exceptions that would still allow the state to collect ad valorem property taxes, sales taxes on retail goods and services, and use taxes on goods or services purchased at retail. If approved, the proposed constitutional amendment would be submitted to Texas voters for consideration at the November 4, 2025 election, with ballot language directly stating the proposed prohibition on capital gains taxes. The goal appears to be providing tax protection for investors and property owners by preventing potential future state-level capital gains taxation.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HJR6