This resolution proposes a constitutional amendment aimed at enhancing economic development in Arkansas by allowing the General Assembly to create economic development districts. These districts would facilitate the development and diversification of the state's economy, address unemployment, and improve transportation and commerce. The amendment grants the General Assembly the authority to allocate public funds for loans and grants to support these initiatives, including the issuance of bonds by the economic development districts to finance specific projects. Additionally, it outlines the conditions under which municipalities can provide financial support to these districts without violating existing constitutional provisions.

The amendment also includes provisions for the taxation status of properties within these economic development districts, ensuring that such properties are exempt from general taxation, except for charges levied by the districts themselves. It establishes a framework for the implementation of the amendment and allows for future amendments by a three-fourths vote of the General Assembly. If approved by voters in the next general election, the amendment will take effect on January 1, 2027, and will supersede any conflicting constitutional provisions.