HC0008 95TH GENERAL ASSEMBLY

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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HOUSE JOINT RESOLUTION
CONSTITUTIONAL AMENDMENT
HC0008

Introduced 1/19/2007, by Rep. Chapin Rose

SYNOPSIS AS INTRODUCED:

ILCON Art. IX, Sec. 3.1 new

Proposes to amend the Revenue Article of the Illinois Constitution. Provides that no estate tax or generation-skipping transfer tax shall be imposed by the State in excess of the aggregate amounts that may be allowed to be credited upon or deducted from any similar tax imposed by the United States. Provides that the General Assembly may impose an estate tax or a generation-skipping transfer tax only so long as and during the time that an estate tax or generation-skipping transfer tax is imposed by the United States against Illinois citizens. Effective upon being declared adopted.

A BILL FOR

HOUSE JOINT RESOLUTION

CONSTITUTIONAL AMENDMENT

RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE NINETY-FIFTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE SENATE CONCURRING HEREIN, that there shall be submitted to the electors of the State for adoption or rejection at the general election next occurring at least 6 months after the adoption of this resolution a proposition to add Section 3.1 to Article IX of the Illinois Constitution as follows:

ARTICLE IX

REVENUE

(ILCON Art. IX, Sec. 3.1 new)

SECTION 3.1. LIMITATION ON ESTATE TAX AND GENERATION-SKIPPING TRANSFER TAX

(a) No estate tax or generation-skipping transfer tax shall be imposed by the State in excess of the aggregate amounts that may be allowed to be credited upon or deducted from any similar tax imposed by the United States.

(b) The General Assembly may impose an estate tax or a generation-skipping transfer tax only so long as and during the time that an estate tax or generation-skipping transfer tax is imposed by the United States against Illinois citizens.

SCHEDULE

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