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This proposed constitutional amendment would ask Utah voters to approve major new limits on state and local government taxing and spending. Under the measure, homes would be valued for property tax purposes using only the "sales comparison approach" — comparing sale prices of similar nearby homes — while the Legislature would gain authority to exempt business equipment and property from property taxes as long as the exemptions apply uniformly. Any new or expanded tax, tax rate increase, extension of an expiring tax, or multi-year financial obligation (with limited exceptions, such as refinancing debt at a lower rate) would require voter approval, and government spending in a given year generally could not exceed the prior year's budget adjusted for factors like inflation, population, income growth, or property values without voter approval; any revenue collected above these limits would have to be refunded to taxpayers. The amendment would also bar the state from shifting new program costs onto cities and counties, prohibit certain tax changes such as new transfer taxes or multiple income tax rates, and allow individuals or groups to sue to enforce these rules, with successful plaintiffs entitled to attorney fees and interest on illegally collected revenue. If approved by the Legislature and then by voters at the next general election, these changes would take effect January 1, 2027.