The resolution proposes an amendment to the West Virginia Constitution that aims to eliminate the ad valorem tax on tangible business inventory. This amendment, designated as "Amendment 1," would 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 presented to voters during the 2026 general election, and if ratified, it would take effect immediately.

To address potential revenue losses for local governments, the resolution stipulates that the West Virginia Legislature must create alternative funding mechanisms or adjust state aid allocations. Additionally, local governments would have the flexibility to modify their tax policies to maintain fiscal stability while adhering to the new amendment. The overall purpose of this amendment is to foster a more business-friendly environment by removing the tax burden on business inventory.