Bill Status of SJRCA0018 100th General Assembly
Short Description: INCOME TAX-EDUCATION
Sen. Laura M. Murphy
| 1/10/2018||Senate||Referred to Assignments|
|ILCON Art. IX, Sec. 12 new|| |
Synopsis As Introduced
Proposes to amend the Revenue Article of the Illinois Constitution. Provides for an additional tax on individuals in an amount equal to 3% of income greater than $1,000,000 for the taxable year. Provides that 75% of the revenue collected from the tax shall be distributed to school districts solely to provide for kindergarten through grade 12 education, and 25% of the revenue collected from the tax shall be distributed to public institutions of higher education. Effective upon being declared adopted.
|Date||Chamber|| Action|| 1/10/2018||Senate||Filed with Secretary|| 1/10/2018||Senate||Referred to Assignments|