95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HOUSE JOINT RESOLUTION
CONSTITUTIONAL AMENDMENT
HC0043


 
Introduced 4/10/2008, by Rep. William Davis - Barbara Flynn Currie - Julie Hamos - Kathleen A. Ryg
 
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 20774 HLH 49360 e

















 


 


A BILL FOR









 











HC0043

LRB095 20774 HLH 49360 e






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HOUSE JOINT RESOLUTION



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CONSTITUTIONAL AMENDMENT



 

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    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE 
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NINETY-FIFTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE 
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SENATE 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, 
 


 






HC0043
- 2 -
LRB095 20774 HLH 49360 e




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for the purpose of
arriving at the amount of income upon which 
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the tax is imposed.

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(Source: Illinois Constitution.)



 

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SCHEDULE


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    This Constitutional Amendment takes effect upon being 
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declared adopted in accordance with Section 7 of the Illinois 
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Constitutional Amendment Act.