Bill Text: IL SR1551 | 2015-2016 | 99th General Assembly | Introduced
Bill Title: States the belief that the Illinois Income Tax Act should not be amended to permit taxing retirement income.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2016-02-24 - Referred to Assignments [SR1551 Detail]
Download: Illinois-2015-SR1551-Introduced.html
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1 | SENATE RESOLUTION
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2 | WHEREAS, The State of Illinois exempts State taxation of | ||||||
3 | retirement income; and
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4 | WHEREAS, Retirees living on a fixed income have limited | ||||||
5 | ability to rejoin the workforce, face high health care costs, | ||||||
6 | and have little ability to save money; and
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7 | WHEREAS, Retirees could not have anticipated in their | ||||||
8 | lifetime of planning that their retirement income would | ||||||
9 | suddenly be taxed by the State, forcing them to cut already | ||||||
10 | strained household budgets; and
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11 | WHEREAS, Retirees do pay many other taxes, such as federal | ||||||
12 | income taxes, property taxes, and sales taxes; and
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13 | WHEREAS, The exclusion of taxing retirement income | ||||||
14 | encourages residents to remain living throughout their | ||||||
15 | retirement in Illinois and encourages newly retired Americans | ||||||
16 | to relocate to the State; therefore, be it
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17 | RESOLVED, BY THE SENATE OF THE NINETY-NINTH GENERAL | ||||||
18 | ASSEMBLY OF THE STATE OF ILLINOIS, that we state our belief | ||||||
19 | that the Illinois Income Tax Act should not be amended to | ||||||
20 | permit taxing retirement income; and be it further
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1 | RESOLVED, That suitable copies of this resolution be | ||||||
2 | delivered to all Illinois constitutional officers, the Speaker | ||||||
3 | and Minority Leader of the Illinois House of Representatives, | ||||||
4 | and the President and Minority Leader of the Illinois Senate.
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