HB 1622 proposes to make permanent a limitation on increases in the appraised value of certain real property for ad valorem tax purposes. Specifically, it seeks to retain a cap of 20% on the annual increase of the appraised value for real property other than residence homesteads, which was set to expire in 2026 under current provisions. The legislation includes repealing various provisions tied to the expiration of this cap and makes its application contingent upon the approval of a related constitutional amendment by Texas voters.