House Joint Resolution 2 H-1074 Amend House Joint Resolution 2 as follows: 1 1. By striking everything after the resolving 2 clause and inserting: 3 < Section 1. The following amendment to the 4 Constitution of the State of Iowa is proposed: 5 The Constitution of the State of Iowa is amended by 6 adding the following new section to new Article XIII: 7 ARTICLE XIII. 8 TAXPAYERS TRUST FUND 9 Taxpayers trust fund. SECTION 1. 10 1. A taxpayers trust fund is created within the 11 treasury to provide tax relief. The maximum balance 12 of the trust fund shall be established by statute but 13 shall not be more than one percent of the state’s 14 annual net general revenue. 15 2. Except for temporary cash flow purposes, moneys 16 in the taxpayers trust fund shall only be used in 17 accordance with appropriations or transfers made by the 18 general assembly for purposes of providing tax relief 19 for any of the following purposes: 20 a. Personal income tax reduction. 21 b. Homeowner property tax reduction. 22 c. Sales tax reduction. 23 3. The general assembly shall enact laws to 24 implement this section. 25 Sec. 2. The foregoing proposed amendment to the 26 Constitution of the State of Iowa is referred to the 27 general assembly to be chosen at the next general 28 election for members of the general assembly, and the 29 Secretary of State is directed to cause the amendment 30 to be published for three consecutive months previous 31 to the date of that election as provided by law. 32 2. Title page, by striking lines 1 through 5 and 33 inserting < A Joint Resolution proposing an amendment to 34 the Constitution of the State of Iowa relating to state 35 budgeting by creating a taxpayers relief fund. > 36 3. By renumbering as necessary. 37 ______________________________ HALL of Woodbury -1- HJR2.774 (1) 85 jp/sc 1/ 1 #1.