The resolution proposes an amendment to the West Virginia Constitution aimed at eliminating the ad valorem tax on tangible business inventory. This amendment, designated as "Amendment 1," seeks to prohibit the state from imposing taxes on goods, materials, and products held by businesses for sale, manufacturing, or processing. The proposed change is intended to be submitted to voters during the 2026 general election, and if ratified, it will take effect immediately. The resolution also outlines that the Legislature will be responsible for implementing the amendment in a way that minimizes financial impact on local governments, potentially through adjustments in other tax revenues or state funding.

To address any revenue losses that may arise from the elimination of the business inventory tax, the Legislature is tasked with establishing alternative funding mechanisms or adjusting state aid allocations to counties, municipalities, and school districts. Additionally, local governments will have the flexibility to modify their tax policies within the framework of state law to ensure fiscal stability. The overall goal of this amendment is to foster a more business-friendly environment in West Virginia by removing the tax burden on business inventory.