House Joint Resolution Constitutional Amendment 44: to protect Illinoisans’ retirement income from taxation.

A preemptive step has been taken in Springfield to protect Illinoisans’ retirement income from taxation: State Rep. Allen Skillicorn, R-East Dundee, filed House Joint Resolution Constitutional Amendment 44, April 17, 2018:

Synopsis As Introduced
Proposes to amend the Revenue Article of the Illinois Constitution. Provides that there shall be no tax imposed by the State upon retirement income. Defines “retirement income”. Effective upon being declared adopted.

Here are the actions so far:

Actions

Date Chamber  Action
  4/17/2018 House Filed with the Clerk by Rep. Allen Skillicorn
  4/17/2018 House Read in Full a First Time
  4/17/2018 House Referred to Rules Committee

Even though the State of Illinois does not currently collect taxes on retirement income, this could be a very timely amendment.  In my opinion, the State of Illinois is in complete financial death spiral. Underfunded pensions, municipal bond ratings just a notch above junk, House Minority Leader Jim Durkin having filed House Resolution 975 to counter State Rep. Robert Martwick’s (D-Chicago) House Bill 3522 (progressive income tax).  There is a constant battle in Springfield over what and how much will be taxed.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

%d bloggers like this: