House Joint Resolution 2 H-1137 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. The maximum balance of the trust fund shall 16 be established by statute but shall not be more than 17 one percent of the state’s annual net general revenue. 18 2. Except for temporary cash flow purposes, moneys 19 in the taxpayers trust fund shall only be used in 20 accordance with appropriations or transfers made by the 21 general assembly to provide tax relief or support for 22 Iowans for any of the following purposes: 23 a. Personal income tax reduction. 24 b. Homeowner property tax reduction. 25 c. Sales tax reduction. 26 d. Addressing drought conditions. 27 3. The general assembly shall enact laws to 28 implement this section. 29 Sec. 2. The foregoing proposed amendment to the 30 Constitution of the State of Iowa is referred to the 31 general assembly to be chosen at the next general 32 election for members of the general assembly, and the 33 Secretary of State is directed to cause the amendment 34 to be published for three consecutive months previous 35 to the date of that election as provided by law. > 36 ___. Title page, by striking lines 1 through 5 and 37 inserting < A Joint Resolution proposing an amendment to 38 the Constitution of the State of Iowa relating to state 39 budgeting by creating a taxpayers trust fund. >> 40 ______________________________ STECKMAN of Cerro Gordo -1- H1074.812 (2) 85 jp/sc 1/ 1 #1.