Congress passed the amendment on March 21, 1947. It was ratified by the requisite number of states on February 27, 1951.
WikiPedia commentary: Some have questioned the interpretation of the Twenty-second Amendment as it relates to the Twelfth Amendment, ratified in 1804, which provides that "no person constitutionally ineligible to the office of President shall be eligible to that of Vice-President of the United States."
While it is clear that under the Twelfth Amendment the original constitutional qualifications of age, citizenship, and residency apply to both the President and Vice President, it is unclear if a two-term President could later be elected -- or appointed -- Vice President. Some argue that the Twenty-second Amendment and Twelfth Amendment bar any two-term President from later serving as Vice President as well as from succeeding to the presidency from any point in the United States presidential line of succession. Others contend that while a two-term President is ineligible to be elected or appointed to the office of Vice President, he or she could succeed from a lower position in the line of succession which he or she is not excluded from holding. Still others contend that the Twelfth Amendment concerns qualification for service, while the Twenty-second Amendment concerns qualifications for election. Neither theory has ever been tested, as no former President has ever sought the Vice Presidency, and thus the courts have never been required to make a judgment.
FindLaw's commentary: "By reason of the lack of a positive expression upon the subject of the tenure of the office of President, and by reason of a well-defined custom which has risen in the past that no President should have more than two terms in that office, much discussion has resulted upon this subject. Hence it is the purpose of this . . . [proposal] . . . to submit this question to the people so they, by and through the recognized processes, may express their views upon this question, and if they shall so elect, they may . . . thereby set at rest this problem." [H.R. Rep. No. 17, 80th Cong., 1st Sess. 2 (1947)]
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Can't be VP if can't be President.