HJR 2 is not expected to have any fiscal impact on the state of Texas beyond the standard cost of publishing the proposed constitutional amendment. According to the Legislative Budget Board (LBB), the publication cost for placing the measure on the November 2025 ballot is estimated at $191,689​.

The resolution prohibits the Legislature from imposing or expanding taxes on the transfer of estates, inheritances, gifts, legacies, or successions after January 1, 2025. However, since Texas currently does not impose any estate or inheritance tax, the proposed amendment would not reduce existing state revenue streams. Its impact is preventive rather than corrective or eliminative of any current tax policy.

Additionally, there is no anticipated fiscal impact on local governments, as these taxes are not currently levied at the local level in Texas. The measure also does not affect existing taxes such as the $10 motor vehicle gift tax or ad valorem property taxes, thereby preserving existing revenue mechanisms where applicable.

HJR 2 seeks to amend the Texas Constitution to prohibit the imposition of estate, inheritance, and similar taxes on the transfer of property due to death or gifting. The resolution responds to concerns that such taxes—if reintroduced—could burden families, discourage economic investment, and prompt high-net-worth individuals to relocate out of state. While Texas repealed its inheritance tax in 2015, the state constitution currently provides no safeguard against the future reintroduction or expansion of such taxes. This resolution fills that gap by enshrining a prohibition directly into the constitution.

From a liberty-based perspective, the measure aligns with all five core principles. It protects individual liberty and private property rights by preventing government interference in personal estate decisions and wealth transfers. It supports personal responsibility by preserving family financial planning and investment choices. It promotes free enterprise by helping family-owned businesses avoid burdensome tax obligations at generational transition points. Finally, it clearly limits the scope of legislative taxation authority, reinforcing the principle of limited government.

The LBB's fiscal analysis indicates no ongoing fiscal impact to the state beyond the one-time cost of publishing the amendment ($191,689), and there is no effect on local government budgets. The bill analysis also confirms that the resolution does not expand rulemaking authority or impact the criminal justice system. Altogether, HJR 2 represents a proactive constitutional safeguard that would prevent future tax policies that could undermine economic freedom and family financial stability. For these reasons, Texas Policy Research recommends that lawmakers vote YES on HJR 2.

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