The resolution proposes an amendment to the Washington State Constitution that would modify the tax levy limits on real and personal property. Specifically, it seeks to establish that the total tax levies by the state and all taxing districts cannot exceed one percent of the true and fair value of the property in any given year. The amendment allows for exceptions where taxing districts can exceed this limit if authorized by a three-fifths majority of voters, either for specific purposes such as supporting common schools or fire protection districts, or for issuing general obligation bonds for capital projects. Additionally, it stipulates that school districts can authorize levies and bonds with a simple majority vote, regardless of the number of voters participating.

Furthermore, the resolution emphasizes that this amendment is intended as a single integrated plan, and if deemed separate amendments, the entire resolution would be void. It mandates that the Secretary of State publish notice of this proposed constitutional amendment in legal newspapers across the state at least four times in the month leading up to the election, ensuring that voters are adequately informed before the general election where they will have the opportunity to approve or reject the amendment.