(The Center Square) - Three Oklahoma lawmakers are proposing a state constitutional amendment that would freeze the homestead fair cash value of property for those over the age of 65.

Oklahoma City Republicans Reps. Max Wolfley, Eric Roberts and Robert Manger sponsored House Joint Resolution 1047 in the Legislature. The measure passed the House but failed in the Senate. An "unknown" decrease in the state's ad valorem revenue would have occurred if the bill had passed, according to the summary. 

"This would not do away with the ad valorem tax of a person's homestead property, it would just keep it from going up once the property owner has reached the age of 65. This freeze would occur regardless of an individual's income," the lawmakers said in a joint news release. "This state question would simply ask state voters if they would like to allow property tax values to freeze for seniors or if they prefer that they continue to pay potential property tax increases each year."

The petition needs 177,958, which is 15% of the Oklahoma voters who participated in the last gubernatorial election. The proposed amendment would be on the Nov. 8 ballot if enough valid signatures are gathered.