Illinois General Assembly - Full Text of SJRCA0092
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Full Text of SJRCA0092  95th General Assembly

SC0092 95TH GENERAL ASSEMBLY


 


 
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:
 
ILCON Art. IX, Sec. 3

    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.


LRB095 20740 HLH 49222 e

 

 

A BILL FOR

 

SC0092 LRB095 20740 HLH 49222 e

1
SENATE JOINT RESOLUTION
2
CONSTITUTIONAL AMENDMENT

 
3     RESOLVED, BY THE SENATE OF THE NINETY-FIFTH GENERAL
4 ASSEMBLY OF THE STATE OF ILLINOIS, THE HOUSE OF REPRESENTATIVES
5 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 Section 3 of Article IX
9 of the Illinois Constitution as follows:
 
10
ARTICLE IX
11
REVENUE

12     (ILCON Art. IX, Sec. 3)
13 SECTION 3. LIMITATIONS ON INCOME TAXATION
14     (a) A tax on or measured by income may be at a graduated
15 shall be at a non-graduated rate. At any one time there may be
16 no more than one such tax imposed by the State for State
17 purposes on individuals and one such tax so imposed on
18 corporations. In any such tax imposed upon corporations the
19 rate shall not exceed the weighted average rate imposed on
20 individuals by more than a ratio of 8 to 5.
21     (b) Laws imposing taxes on or measured by income may adopt
22 by reference provisions of the laws and regulations of the
23 United States, as they then exist or thereafter may be changed,

 

 

SC0092 - 2 - LRB095 20740 HLH 49222 e

1 for the purpose of arriving at the amount of income upon which
2 the tax is imposed.
3 (Source: Illinois Constitution.)
 
4
SCHEDULE
5     This Constitutional Amendment takes effect upon being
6 declared adopted in accordance with Section 7 of the Illinois
7 Constitutional Amendment Act.