The Convention of States is a process laid out by the Founding Fathers to allow the States to bypass Congress in proposing new Amendments for the Constitution. This power is given to the States through Article V of the Constitution. The States must all submit applications to call for a Convention. These applications must all deal with the same issue, such as Balancing the Budget or Tax Reform. Once enough States have submitted an application, a convention is called and States can begin debating and discussing Amendments to the Constitution.
What will an actual convention look like? First, 2/3rds of the State must pass a Convention of States resolution. Once enough States have passed the resolution each of the 50 States will send delegates to begin proposing, debating, and finally voting on potential Amendments to the Constitution. After the voting takes place, any Amendments that passed will be sent back to the individual States for ratification. Three-quarters of the states must agree for any of the proposed amendments to be ratified.
So where do we stand? So far 12 States have passed a Convention of States resolution. These States are: Georgia, Alaska, Florida, Alabama, Tennessee, Indiana, Oklahoma, Louisiana, Arizona, North Dakota, Texas, and Missouri. In order to reach the 2/3rds required to call the convention 34 States must pass the resolution.