Illinois General Assembly - Full Text of HR0753
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Full Text of HR0753  102nd General Assembly

HR0753 102ND GENERAL ASSEMBLY


  

 


 
HR0753LRB102 26336 ECR 36403 r

1
HOUSE RESOLUTION

 
2    WHEREAS, The State of Illinois currently exempts State
3taxation of retirement income; and
 
4    WHEREAS, House Joint Resolution Constitutional Amendment
51, passed by the 101st General Assembly, put what proponents
6call the "Fair Tax" on the 2020 ballot; this would have allowed
7for graduated income tax rates and could have created an
8avenue for taxation on retirement income; and
 
9    WHEREAS, The "Fair Tax" proposal was rejected by the
10residents of Illinois in the 2020 election with 53.27 percent
11of the voters disapproving; and
 
12    WHEREAS, Retirees are often least equipped to shoulder the
13burden of additional taxation due to the fact that the vast
14majority live on fixed income; and
 
15    WHEREAS, Current inflation levels are already diminishing
16the fixed income upon which retirees in Illinois rely; and
 
17    WHEREAS, Retirees already contribute a fair share of
18taxes, whether it be through federal income taxation or other
19state imposed taxes such as sales taxes and property taxes;
20and
 

 

 

HR0753- 2 -LRB102 26336 ECR 36403 r

1    WHEREAS, Not taxing retirement income is one of the only
2friendly tax policies Illinois residents currently enjoy; and
 
3    WHEREAS, Imposing an income tax on retirement could drive
4residents away from Illinois or deter people from across the
5nation from choosing to spend retirement in Illinois;
6therefore, be it
 
7    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE
8HUNDRED SECOND GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
9we trust the decision Illinoisans made when they rejected the
10path to taxing retirement income by prohibiting the "Fair Tax"
11from becoming enacted in the 2020 election; and be it further
 
12    RESOLVED, That we affirm our belief that another ballot
13question or any policy change allowing for the Illinois Income
14Tax Act to potentially tax retirement income should not be
15permitted to pass the Illinois House of Representatives; and
16be it further
 
17    RESOLVED, That suitable copies of this resolution be
18delivered to all Illinois constitutional officers, the Speaker
19and Minority Leader of the Illinois House of Representatives,
20and the President and Minority Leader of the Illinois Senate.