The resolution proposes an amendment to the West Virginia Constitution that would grant the Legislature the authority to exempt certain types of personal property from ad valorem property taxation. Specifically, it seeks to exempt tangible machinery and equipment used directly in business activities, tangible inventory used in business, and personal property tax on motor vehicles. The amendment aims to modernize property tax regulations and is intended to be presented to voters for ratification or rejection during the general election in 2026.

Additionally, the resolution outlines the proposed changes to Article X, Section 1 of the West Virginia Constitution, which governs taxation and finance. It emphasizes that taxation should be equal and uniform, while also allowing for specific exemptions for various types of property, including those used for agricultural purposes and household goods. The amendment is designated as "Amendment No. 1" and is referred to as the "Property Tax Modernization Amendment," with the goal of providing clarity and authority to the Legislature regarding the assessment and classification of the specified personal properties.