SB 2907 provides an exemption from ad valorem taxation for certain perishable inventory held for sale at retail. The bill defines "perishable inventory" to include food items such as fresh produce, meats, dairy products, bakery goods, eggs, and packaged or refrigerated foods, as well as prescription and nonprescription drugs, dietary supplements, and vitamins intended for human or animal consumption. Under the bill, owners of qualifying perishable inventory are entitled to an exemption from taxation on the total appraised value of such inventory, provided they are not delinquent on taxes owed to the state or any taxing unit as of January 1 of the tax year. The exemption would take effect beginning with the tax year starting January 1, 2026, contingent upon voter approval of a constitutional amendment authorizing the legislature to grant this exemption.