The Palestinians will request the UN General Assembly to upgrade their status from Permanent Observer to a "non-member Observer State". For an UNGA resolution to pass into this effect, it requires a simple majority, which means 50 percent plus one of all Member States present and participating in the voting.
If the General Assembly decides to upgrade Palestine’s status to a "non-member Observer State", this would implicitly result in a collective recognition of Palestine as an independent State. However, it is significant to emphasize that this doesn’t in any way grant Palestine membership at the United Nations.
A status upgrade for Palestine would qualify it for the “all States” clause contained in international treaties. As a result, Palestine - as a State - would be able to become party to any international treaty/agreement, whether by ratification or accession. In addition, Palestine would be able to establish full diplomatic relations with other States. This would further grant Palestine access to international judicial bodies such as: the International Court of Justice and the International Criminal Court in The Hague.
Futhermore, Palestine would be able to directly bring to the attention of the Security Council or of the General Assembly any dispute to which it is a party, in accordance with Article 35(2) of the Charter of the United Nations.