The resolution proposes an amendment to the Constitution of West Virginia, specifically targeting section 1 of article X, to allow the Legislature to exempt tangible inventory personal property that is directly used in business activities from ad valorem property taxation. This amendment aims to provide a more favorable tax environment for businesses by reducing their tax burden on inventory, which could potentially encourage economic growth and investment within the state. The proposed amendment will be submitted to the voters for ratification or rejection during the general election scheduled for 2028.

The resolution outlines the specific changes to the existing tax provisions, including the addition of language that explicitly allows for the exemption of tangible inventory personal property from taxation. It also includes a summarized statement of the amendment's purpose, which is to grant the Legislature the authority to enact this exemption through general law. The amendment is designated as "Amendment No. 1" and is referred to as the "Business Inventory Tax Exemption Amendment." The resolution emphasizes the importance of this change in supporting business activities and enhancing the economic landscape of West Virginia.