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.

The proposed amendment, designated as "Amendment No. 1" and referred to as the "Property Tax Modernization Amendment," emphasizes the Legislature's ability to establish the valuation and classification of the specified personal properties while preserving existing tax exemptions. The resolution outlines the necessary changes to Section 1, Article X of the state constitution, ensuring that taxation remains equal and uniform while allowing for these specific exemptions to support business activities in West Virginia.