Illinois HJRCA0021 proposes a constitutional amendment to impose a 3% income tax on individuals earning over $1,000,000 annually.

Illinois HJRCA0021 proposes a constitutional amendment to impose a 3% income tax on individuals earning over $1,000,000 annually. The revenue generated will be split equally between property tax relief and funding for school districts on a per pupil basis. The amendment will take effect upon adoption and applies to taxable years beginning after its adoption. The General Assembly will be responsible for implementing and enforcing this new tax.

Illinois HJRCA0021 proposes a constitutional amendment to impose a 3% income tax on individuals earning over $1,000,000 annually.

Illinois HJRCA0021 proposes a constitutional amendment to impose a 3% income tax on individuals earning over $1,000,000 annually. The revenue generated will be split equally between property tax relief and funding for school districts on a per pupil basis. The amendment will take effect upon adoption and applies to taxable years beginning after its adoption. The General Assembly will be responsible for implementing and enforcing this new tax.