This week, Dr. Lynn Stucky joined fellow lawmakers in Austin to finally pass an $18 billion property tax relief proposal that will now head to Texas voters for final approval. After months of negotiating – and two special sessions – state leaders reached a compromise that will bring a historic cut for hard-working Texans across the state.

The proposal is the combination of three pieces of legislation that, when combined, provide the largest tax cut in Texas history. The two bills and joint resolution authorize several significant tax cuts, including raising the homestead exemption to $100,000, increasing the state’s “buy down” of local school taxes, saving or eliminating the Franchise Tax for small businesses, putting a temporary cap on appraisals for non-homestead properties, and adding accountability by creating new elected positions on local appraisal districts.

To help wade through the policy, here is a look at each bill individually, as well as the joint resolution proposing a constitutional amendment for voters to authorize in November.