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      S.J.R. No. 18         proposing a constitutional amendment prohibiting the imposition of   a tax on the realized or unrealized capital gains of an individual,   family, estate, or trust.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Article VIII, Texas Constitution, is amended by   adding Section 24-b to read as follows:           Sec.   24-b.     (a)   Subject to Subsection (b) of this section,   the legislature may not impose a tax on the realized or unrealized   capital gains of an individual, family, estate, or trust, including   a tax on the sale or transfer of a capital asset that is payable by   the individual, family, estate, or trust selling or transferring   the asset.           (b)     This section may not be construed as modifying the   applicability or prohibiting the imposition or change in the rate   of:                 (1)  an ad valorem tax on property;                 (2)  a sales tax on the sale of goods or services; or                 (3)     a use tax on the storage, use, or other consumption   in this state of goods or services.          SECTION 2.  This proposed constitutional amendment shall be   submitted to the voters at an election to be held November 4, 2025.   The ballot shall be printed to permit voting for or against the   proposition: "The constitutional amendment prohibiting the   imposition of a tax on the realized or unrealized capital gains of   an individual, family, estate, or trust."             ______________________________ ______________________________      President of the Senate Speaker of the House                 I hereby certify that S.J.R. No. 18 was adopted by the Senate   on March 18, 2025, by the following vote: Yeas 24, Nays 6; and that   the Senate concurred in House amendment on May 5, 2025, by the   following vote: Yeas 25, Nays 6.       ______________________________   Secretary of the Senate                I hereby certify that S.J.R. No. 18 was adopted by the House,   with amendment, on April 28, 2025, by the following vote: Yeas 104,   Nays 26, eleven present not voting.       ______________________________   Chief Clerk of the House            Received:     ______________________________                Date       ______________________________         Secretary of State