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 clarifies that income is not considered property for taxation purposes and allows the legislature to impose an income tax, with specific limitations. Notably, the income tax would not apply to individuals with a taxable income of $1,000,000 or less per year, a threshold that will be adjusted annually based on the consumer price index. Additionally, the maximum tax rate cannot exceed 9.9%.

To ensure transparency, the resolution mandates that the Secretary of State publish notice of the proposed constitutional amendment in legal newspapers across the state at least four times in the month leading up to the election. This initiative aims to provide a framework for income taxation while protecting lower-income individuals from being taxed, and it establishes a mechanism for adjusting the income threshold in line with inflation.