House Joint Resolution 2 H-1107 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 for purposes of providing tax relief 23 for any of the following purposes: 24 a. Personal income tax reduction. 25 b. Homeowner property tax reduction. 26 c. Sales tax reduction. 27 d. Improving the health of the citizens of Iowa. 28 3. The general assembly shall enact laws to 29 implement this section. 30 Sec. 2. The foregoing proposed amendment to the 31 Constitution of the State of Iowa is referred to the 32 general assembly to be chosen at the next general 33 election for members of the general assembly, and the 34 Secretary of State is directed to cause the amendment 35 to be published for three consecutive months previous 36 to the date of that election as provided by law. > 37 ___. Title page, by striking lines 1 through 5 and 38 inserting < A Joint Resolution proposing an amendment to 39 the Constitution of the State of Iowa relating to state 40 budgeting by creating a taxpayers trust fund. >> 41 ______________________________ M. SMITH of Marshall -1- H1074.819 (1) 85 jp/sc 1/ 1 #1.