SR1551LRB099 20806 GRL 45515 r


  
1
SENATE RESOLUTION

  
 
2    WHEREAS, The State of Illinois exempts State taxation of 
3retirement income; and
  
 
4    WHEREAS, Retirees living on a fixed income have limited 
5ability to rejoin the workforce, face high health care costs, 
6and have little ability to save money; and
  
 
7    WHEREAS, Retirees could not have anticipated in their 
8lifetime of planning that their retirement income would 
9suddenly be taxed by the State, forcing them to cut already 
10strained household budgets; and
  
 
11    WHEREAS, Retirees do pay many other taxes, such as federal 
12income taxes, property taxes, and sales taxes; and

  
 
13    WHEREAS, The exclusion of taxing retirement income 
14encourages residents to remain living throughout their 
15retirement in Illinois and encourages newly retired Americans 
16to relocate to the State; therefore, be it
  
 
17    RESOLVED, BY THE SENATE OF THE NINETY-NINTH GENERAL 
18ASSEMBLY OF THE STATE OF ILLINOIS, that we state our belief 
19that the Illinois Income Tax Act should not be amended to 
20permit taxing retirement income; and be it further
  
 
 
 
SR1551- 2 -LRB099 20806 GRL 45515 r

1    RESOLVED, That suitable copies of this resolution be 
2delivered to all Illinois constitutional officers, the Speaker 
3and Minority Leader of the Illinois House of Representatives, 
4and the President and Minority Leader of the Illinois Senate.