88R15833 RDS-F     By: Hefner H.J.R. No. 132     Substitute the following for H.J.R. No. 132:     By:  Shine C.S.H.J.R. No. 132       A JOINT RESOLUTION   proposing a constitutional amendment prohibiting the legislature   from imposing a tax on the net worth of individuals or businesses.          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 net worth of individuals   or business entities. For purposes of this section, the net worth   of an individual or business entity means the amount computed by   subtracting from the value of the individual's or entity's assets   the value of the individual's or entity's liabilities.          (b)  This section may not be construed as prohibiting the   imposition of:                (1)  an ad valorem tax on property; or                (2)  a general business tax measured by business   activity.          SECTION 2.  This proposed constitutional amendment shall be   submitted to the voters at an election to be held November 7, 2023.   The ballot shall be printed to permit voting for or against the   proposition: "The constitutional amendment to prohibit the   legislature from imposing a tax on the net worth of individuals or   businesses."