This bill establishes a prohibition against states imposing retroactive taxes on the assets of nonresident individuals. It specifically prevents a state from levying a tax on an individual's assets if that tax is attributable to the value of such assets for any period before the date of the tax's enactment . This prohibition applies only if the individuals are not residents of that state as of the date the tax is enacted. The legislation aims to protect individuals who do not reside in a state from being subjected to asset taxes that reach back in time to periods when the tax was not yet in effect. This measure is intended to provide clarity and stability regarding state taxation for non-residents, and it is set to take effect on January 1, 2026.