SC0001SAM001LRB101 07606 HLH 59381 a

1
AMENDMENT TO SENATE JOINT RESOLUTION
2
CONSTITUTIONAL AMENDMENT 1

3    AMENDMENT NO. ___. Amend Senate Joint Resolution
4Constitutional Amendment 1 by replacing everything after the
5resolved clause with the following:
 
6
"ARTICLE IX
7
REVENUE

8      (ILCON Art. IX, Sec. 3)
9SECTION 3. LIMITATIONS ON INCOME TAXATION
10    (a) The General Assembly shall provide by law for the rate
11or rates of any tax on or measured by income imposed by the
12State. A tax on or measured by income shall be at a
13non-graduated rate. At any one time there may be no more than
14one such tax imposed by the State for State purposes on
15individuals and one such tax so imposed on corporations. In any
16such tax imposed upon corporations the highest rate shall not

 

 

SC0001SAM001- 2 -LRB101 07606 HLH 59381 a

1exceed the highest rate imposed on individuals by more than a
2ratio of 8 to 5.
3    (b) Laws imposing taxes on or measured by income may adopt
4by reference provisions of the laws and regulations of the
5United States, as they then exist or thereafter may be changed,
6for the purpose of arriving at the amount of income upon which
7the tax is imposed.
8(Source: Illinois Constitution.)
 
9
SCHEDULE
10    This Constitutional Amendment takes effect upon being
11declared adopted in accordance with Section 7 of the Illinois
12Constitutional Amendment Act.".