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No State Tax on Retirement Income

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HJRCA 14 resolves by the Illinois House of Representatives, with the concurrence of the Illinois Senate, that there must be submitted to the electors of the state for adoption or rejection at the general election next occurring at least six months after adoption of the resolution a proposition to amend Article IX, Section 3 of the Illinois Constitution to prohibit the state taxation of retirement income.

Specifically, HJRCA 14 amends Article IX, Section 3 of the Illinois Constitution to prohibit a state tax on retirement income. HJRCA 14 defines “retirement income” as income derived from a pension or any other retirement plan. (Illinois currently does not tax retirement income.)

HJRCA 14 takes effect upon being declared adopted in accordance with Section 7 of the Illinois Constitutional Amendment Act.

Sponsor: 
Representative Allen Skillicorn