What does the 27th amendment state?

The 27 Amendment states, "No law, varying the compensation for the services of the Senators and Representatives, shall take effect, until an election of Representatives shall have intervened." Basically it means that if the 1/3 of the Congress and ALL of the House of Representatives vote to have their pay raised, they don't get a pay raise until after elections in two years. The two years that is given is so that the citizens can carefully consider whether or not to vote for the raises. It was originally meant to prevent the Congressmen from getting pay raises every year. However, Congress voted, and won, itself a Cost of Living Allowance (COLA). The COLA does not count as a raise so therefore Congress can vote itself little raises that nobody will notice every two years.

I hope that helped! If you just google it it's all over the internet.