The resolution proposes an amendment to the West Virginia Constitution, specifically amending Section 1 of Article X, to grant the Legislature the authority to exempt certain types of personal property from ad valorem property taxation. This includes tangible machinery and equipment directly used 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 process for the amendment's implementation, including its designation as "Amendment No. 1" and the title "Property Tax Modernization Amendment." The summarized purpose of the amendment is to allow the Legislature to establish the valuation and classification of the specified personal properties while preserving existing tax exemptions. The resolution emphasizes the need for legislative authority to adapt property tax laws to better support business activities in the state.