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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008 SENATE JOINT RESOLUTION
CONSTITUTIONAL AMENDMENT SC0092
Introduced 4/9/2008, by Sen. Michael W. Frerichs SYNOPSIS AS INTRODUCED: |
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Proposes to amend the Revenue Article of the Illinois Constitution. Authorizes a tax on or measured by income to be at a graduated rate (now, all taxes on or measured by income shall be at a non-graduated rate). Provides that, in any such tax imposed upon corporations, the rate shall
not exceed the weighted average rate imposed on individuals by more than a ratio of 8 to
5. Effective upon being declared adopted.
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A BILL FOR
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SC0092 |
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LRB095 20740 HLH 49222 e |
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| SENATE JOINT RESOLUTION
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| CONSTITUTIONAL AMENDMENT
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| RESOLVED, BY THE SENATE OF THE NINETY-FIFTH GENERAL |
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| ASSEMBLY OF THE STATE OF ILLINOIS, THE HOUSE OF REPRESENTATIVES |
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| CONCURRING HEREIN, that there shall be submitted to the |
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| electors of the State for adoption or rejection at the general |
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| election next occurring at least 6 months after the adoption of |
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| this resolution a proposition to amend Section 3 of Article IX |
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| of the Illinois Constitution as follows:
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| ARTICLE IX |
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| REVENUE
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| (ILCON Art. IX, Sec. 3)
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| SECTION 3. LIMITATIONS ON INCOME TAXATION
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| (a) A tax on or measured by income may be at a graduated |
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| shall be at a non-graduated rate. At
any one time there may be |
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| no more than one such tax imposed by the State
for State |
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| purposes on individuals and one such tax so imposed on
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| corporations. In any such tax imposed upon corporations the |
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| rate shall
not exceed the weighted average rate imposed on |
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| individuals by more than a ratio of 8 to
5.
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| (b) Laws imposing taxes on or measured by income may adopt |
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| by
reference provisions of the laws and regulations of the |
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| United States,
as they then exist or thereafter may be changed, |