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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
3/15/2011--Introduced. Constitutional Amendment - Prohibits the U.S. government from engaging in any business, professional, commercial, financial, or industrial enterprise except as specified in the Constitution.
Prohibits the constitution or laws of any state, or the laws of the United States, from being subject to the terms of any foreign or domestic agreement which would abrogate this amendment. Requires any activities of the U.S. government which violate the intent and purposes of this amendment to be liquidated and the properties and facilities affected to be sold within three years from the date of ratification of this amendment. Repeals the Sixteenth Amendment to the Constitution three years after ratification of this amendment and thereafter prohibits Congress from levying taxes on personal incomes, estates, and gifts.