House Joint Resolution 2 H-1140 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 18 the general assembly for purposes of providing tax 19 relief and supporting economic growth through any of 20 the following means: 21 a. Personal income tax reduction. 22 b. Homeowner property tax reduction. 23 c. Sales tax reduction. 24 d. Expansion of health care coverage of Iowans 25 under the federal-state medical assistance program, as 26 authorized under section 1902(a)(10)(A)(i)(VIII) of the 27 federal Social Security Act. 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 2. 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 ______________________________ MURPHY of Dubuque -1- HJR2.970 (2) 85 jp/sc 1/ 1 #1. #2.