House
Joint
Resolution
2
H-1103
Amend
the
amendment,
H-1074,
to
House
Joint
1
Resolution
2
as
follows:
2
1.
Page
1,
by
striking
lines
1
through
36
and
3
inserting:
4
<
Amend
House
Joint
Resolution
2
as
follows:
5
___.
By
striking
everything
after
the
resolving
6
clause
and
inserting:
7
<
Section
1.
The
following
amendment
to
the
8
Constitution
of
the
State
of
Iowa
is
proposed:
9
The
Constitution
of
the
State
of
Iowa
is
amended
by
10
adding
the
following
new
section
to
new
Article
XIII:
11
ARTICLE
XIII.
12
TAXPAYERS
TRUST
FUND
13
Taxpayers
trust
fund.
SECTION
1.
14
1.
A
taxpayers
trust
fund
is
created
within
the
15
treasury
to
provide
tax
relief.
The
maximum
balance
16
of
the
trust
fund
shall
be
established
by
statute
but
17
shall
not
be
more
than
one
percent
of
the
state’s
18
annual
net
general
revenue.
19
2.
Except
for
temporary
cash
flow
purposes,
moneys
20
in
the
taxpayers
trust
fund
shall
only
be
used
in
21
accordance
with
appropriations
or
transfers
made
by
the
22
general
assembly
to
provide
tax
relief
for
any
of
the
23
following
purposes:
24
a.
Personal
income
tax
reduction.
25
b.
Homeowner
property
tax
reduction.
26
c.
Sales
tax
reduction.
27
d.
Equalization
and
reduction
of
rates,
through
28
distribution
of
state
funding,
for
the
additional
29
property
tax
levied
by
school
districts
that
is
above
30
and
beyond
the
funds
received
by
school
districts
31
through
the
uniform
foundation
property
tax
levy
and
32
state
foundation
aid.
33
3.
The
general
assembly
shall
enact
laws
to
34
implement
this
section.
35
Sec.
2.
The
foregoing
proposed
amendment
to
the
36
Constitution
of
the
State
of
Iowa
is
referred
to
the
37
general
assembly
to
be
chosen
at
the
next
general
38
election
for
members
of
the
general
assembly,
and
the
39
Secretary
of
State
is
directed
to
cause
the
amendment
40
to
be
published
for
three
consecutive
months
previous
41
to
the
date
of
that
election
as
provided
by
law.
>
42
___.
Title
page,
by
striking
lines
1
through
5
and
43
inserting
<
A
Joint
Resolution
proposing
an
amendment
to
44
the
Constitution
of
the
State
of
Iowa
relating
to
state
45
budgeting
by
creating
a
taxpayers
trust
fund.
>>
46
______________________________
HALL
of
Woodbury
-1-
H1074.809
(2)
85
jp/sc
1/
1
#1.