Bill Text: IL HJRCA0014 | 2019-2020 | 101st General Assembly | Introduced
Bill Title: Proposes to amend the Revenue Article of the Illinois Constitution. Provides that there shall be no tax imposed by the State upon retirement income. Defines "retirement income". Effective upon being declared adopted.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2019-01-29 - Referred to Rules Committee [HJRCA0014 Detail]
Download: Illinois-2019-HJRCA0014-Introduced.html
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1 | HOUSE JOINT RESOLUTION
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2 | CONSTITUTIONAL AMENDMENT
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3 | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE | |||||||||||||||||||
4 | HUNDRED FIRST GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE | |||||||||||||||||||
5 | SENATE CONCURRING HEREIN, that there shall be submitted to the | |||||||||||||||||||
6 | electors of the State for adoption or rejection at the general | |||||||||||||||||||
7 | election next occurring at least 6 months after the adoption of | |||||||||||||||||||
8 | this resolution a proposition to amend Article IX of the | |||||||||||||||||||
9 | Illinois Constitution by changing Section 3 as follows:
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10 | ARTICLE IX
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11 | REVENUE
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12 | (ILCON Art. IX, Sec. 3)
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13 | SECTION 3. LIMITATIONS ON INCOME TAXATION
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14 | (a) A tax on or measured by income shall be at a | |||||||||||||||||||
15 | non-graduated rate. At
any one time there may be no more than | |||||||||||||||||||
16 | one such tax imposed by the State
for State purposes on | |||||||||||||||||||
17 | individuals and one such tax so imposed on
corporations. In any | |||||||||||||||||||
18 | such tax imposed upon corporations the rate shall
not exceed | |||||||||||||||||||
19 | the rate imposed on individuals by more than a ratio of 8 to
5.
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20 | (b) Laws imposing taxes on or measured by income may adopt | |||||||||||||||||||
21 | by
reference provisions of the laws and regulations of the | |||||||||||||||||||
22 | United States,
as they then exist or thereafter may be changed, | |||||||||||||||||||
23 | for the purpose of
arriving at the amount of income upon which |
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1 | the tax is imposed.
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2 | (c) For the purposes of this Section, a tax on or measured | ||||||
3 | by income does not include retirement income, and there shall | ||||||
4 | be no such tax imposed by the State upon retirement income. | ||||||
5 | "Retirement income" as used in this subsection (c) means income | ||||||
6 | derived from pension or any other retirement plan. | ||||||
7 | (Source: Illinois Constitution.)
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8 | SCHEDULE
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9 | This Constitutional Amendment takes effect upon being | ||||||
10 | declared adopted in accordance with Section 7 of the Illinois | ||||||
11 | Constitutional Amendment Act.
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