The resolution proposes an amendment to Article VII of the Washington State Constitution, which will be presented to voters in the next general election. The amendment aims to limit the assessed value of real property to not exceed its true and fair value as of January 1, 2027, with annual adjustments based on the lesser of one percent or inflation. Additionally, the assessed value will be adjusted for new construction and improvements in the year they occur.

The resolution also grants the legislature the authority to enact necessary legislation to implement this amendment. To ensure public awareness, the Secretary of State is tasked with publishing notice of the proposed constitutional amendment in legal newspapers across the state at least four times in the month leading up to the election.