House Amendment 8633


PAG LIN




     1  1    Amend Senate Joint Resolution 2010, as passed by
     1  2 the Senate, as follows:
     1  3 #1.  Page 1, line 6, by inserting after the word
     1  4 <INCREASES> the following:  <OR REDUCTIONS>.
     1  5 #2.  Page 1, line 7, by inserting after the word
     1  6 <INCREASES> the following:  <OR REDUCTIONS>.
     1  7 #3.  Page 1, by inserting after line 20, the
     1  8 following:
     1  9    <If all tax and fee reductions adopted in a fiscal
     1 10 year would reduce annual revenue exceeding one percent
     1 11 of total state general fund revenue received in the
     1 12 preceding fiscal year, excluding transfers from other
     1 13 state funds, the reductions shall be submitted to the
     1 14 electors, starting with the largest reduction and
     1 15 including reductions in descending order, except the
     1 16 remaining reductions that total one percent or less.
     1 17 All reductions of any one tax or fee shall together be
     1 18 regarded as one reduction.  An adopted tax or fee
     1 19 reduction required by this article to be submitted to
     1 20 the electors shall take effect only if submitted to
     1 21 the electors at the next state general election and
     1 22 approved by a majority of the electors voting
     1 23 thereon.>
     1 24 #4.  Page 2, by inserting after line 11, the
     1 25 following:
     1 26    <   .  "Reduction" includes, but is not limited to,
     1 27 reducing a rate or amount; adopting or increasing an
     1 28 exemption, deduction, credit, exclusion, reduction, or
     1 29 indexing requirement; or narrowing the base or scope
     1 30 of a tax or fee in any way.>
     1 31 #5.  Page 2, by inserting after line 20, the
     1 32 following:
     1 33    <   .  "Reduce annual revenue" means the estimated
     1 34 net reduction over the fiscal year preceding adoption
     1 35 in total state general fund revenue produced by the
     1 36 total of all tax and fee reductions adopted in a
     1 37 fiscal year, plus estimated refunds payable as a
     1 38 result of the reductions, all as estimated for the
     1 39 fiscal year in which all such reductions are adopted,
     1 40 as if all such reductions and refunds were fully
     1 41 effective and entirely implemented for that full
     1 42 fiscal year.  Actual amounts, if known, shall be used
     1 43 instead of estimates.>
     1 44 #6.  Page 2, line 28, by inserting after the word
     1 45 <article> the following:  <relating to tax increases>.
     1 46 #7.  Page 3, line 9, by inserting after the word
     1 47 <increase> the following:  <or reduction>.
     1 48 #8.  Page 3, line 12, by inserting after the word
     1 49 <increase> the following:  <or reduction>.
     1 50 #9.  Page 3, line 14, by inserting after the word
     2  1 <increase> the following:  <or reduction>.
     2  2 #10.  Page 3, by striking lines 16 through 18, and
     2  3 inserting the following:  <required by this article.
     2  4 A citizen or taxpayer who brings suit>.
     2  5 #11.  Title page, line 3, by inserting after the
     2  6 word <increases> the following:  <or reductions>.
     2  7 #12.  By renumbering as necessary.
     2  8
     2  9
     2 10                               
     2 11 FALLON of Polk
     2 12 SJR 2010.204 80
     2 13 sc/sh

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