I live in Texas and it's a dog-whistle for ending any sort of formal legal rights for protected classes. Protected classes like race, age, ethnicity, national origin, LGBTQ folk, etc. The proposition is saying there shouldn't be any protections because that's government intervention into basic morality, with the assumption that basic morality is a individual's strong Christian faith rather than any formal, legislative aspect of society.

The reality of it is just bigotry and stripping away even the bare minimums of protections against white supremacist, heteronormative hegemony. That proposition would make it easier to do things like kick trans people out of shelters or schools, fire people on the basis of race, or even something like reintroducing segregation. It's hiding behind Christianity to both be incredibly craven racists and also to strip away the public coffers. 2 for the price of 1 for conservatives.