Full Text of HR0402 95th General Assembly
HR0402 95TH GENERAL ASSEMBLY
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| HOUSE RESOLUTION
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| WHEREAS, On March 7, 2007 before a joint session of the | 3 |
| Illinois House and Senate, Governor Rod R. Blagojevich | 4 |
| delivered a combined State-of-the-State and Budget Address; | 5 |
| and
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| WHEREAS, Based on his concern that, "Many large | 7 |
| corporations pay little or nothing in corporate income taxes | 8 |
| and are not paying their fair share to meet the state's ongoing | 9 |
| infrastructure, education, healthcare, and public safety | 10 |
| needs," Governor Blagojevich, during his speech, asked that the | 11 |
| General Assembly address this situation by the implementation | 12 |
| of a Gross Receipts Tax (GRT) to begin January 1, 2008; and
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| WHEREAS, Governor Blagojevich's proposed GRT is a | 14 |
| privilege tax imposed on virtually all business entities | 15 |
| engaged in a trade or business conducted, in whole or in part, | 16 |
| within Illinois; and
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| WHEREAS, Governor Blagojevich's proposed GRT would be | 18 |
| assessed at a rate of 1% for manufacturing, retail, and | 19 |
| wholesale companies, and all other businesses, such as those | 20 |
| that provide services, would pay a rate of 2%; and
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| WHEREAS, Governor Blagojevich projects that his proposed |
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| GRT would raise $7.6 billion in annual revenue for the State; | 2 |
| and
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| WHEREAS, Governor Blagojevich's proposed GRT would exempt | 4 |
| businesses with gross revenues of $2,000,000 or less, | 5 |
| non-profit organizations, and governmental entities; it would | 6 |
| also exempt certain transactions, services, and goods and allow | 7 |
| certain credits; and
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| WHEREAS, While no House member has of this date introduced | 9 |
| a bill to enact Governor Blagojevich's proposed GRT, currently | 10 |
| pending in the Illinois Senate is Senate Bill 1, Amendments #1 | 11 |
| and #2, the legislative form of Governor Blagojevich's proposed | 12 |
| GRT; therefore, be it
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| RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE | 14 |
| NINETY-FIFTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | 15 |
| those voting "aye" on this resolution are in support of | 16 |
| Governor Blagojevich's proposed Gross Receipts Tax and urge | 17 |
| that legislation to enact it into law be passed by the General | 18 |
| Assembly as soon as possible, and those voting "no" on this | 19 |
| resolution do not support Governor Blagojevich's proposed | 20 |
| Gross Receipts Tax and believe that it should not become law; | 21 |
| and be it further
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| RESOLVED, That a copy of this resolution be presented to |
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| all State Constitutional Officers, the Minority Leader of the | 2 |
| House of Representatives, the President of the Senate, and the | 3 |
| Minority Leader of the Senate.
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