HB 99 eliminates the authority of school districts to levy maintenance and operations (M&O) ad valorem property taxes beginning January 1, 2030, contingent on voter approval of a constitutional amendment. It replaces this revenue with a new state value added tax (VAT) set at an initial rate of 6.72%. All VAT revenue is dedicated to the Foundation School Fund to support public education operations. The bill also repeals statutory provisions related to M&O taxation and authorizes the comptroller to adopt rules necessary for administration.