Senate Joint Resolution 11 H-8487 Amend Senate Joint Resolution 11, as passed by the Senate, as 1 follows: 2 1. By striking everything after the resolving clause and 3 inserting: 4 < Section 1. The following amendment to the Constitution of 5 the State of Iowa is proposed: 6 The Constitution of the State of Iowa is amended by adding 7 the following new section to new Article XIII : 8 ARTICLE XIII. 9 TAXATION LIMITATIONS. 10 Section 1. Two-thirds majority vote for corporate tax 11 credits tax. Passage of a bill that increases corporate income 12 tax credits shall require the affirmative votes of at least 13 two-thirds of the members elected to each house of the general 14 assembly. 15 Passage of a bill that establishes a new corporate tax credit 16 of any type shall require the affirmative votes of at least 17 two-thirds of the members elected to each house of the general 18 assembly. 19 A lawsuit challenging the proper enactment of a bill under 20 this section must be filed no later than one year following the 21 enactment. If such a lawsuit is not filed within the one-year 22 limit, the bill shall be considered properly enacted under this 23 section. 24 Each bill to which this section applies must include a 25 separate provision describing the requirements for enactment 26 prescribed by this section. 27 The general assembly shall enact laws to implement this 28 section. 29 Sec. 2. REFERRAL AND PUBLICATION. The foregoing proposed 30 amendment to the Constitution of the State of Iowa is referred 31 to the general assembly to be chosen at the next general 32 election for members of the general assembly, and shall be 33 published as provided by law for three months previous to the 34 date of that election. > 35 -1- SJR 11.4544 (3) 91 jm/jh 1/ 2 #1.