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Millionaire-tax ballot proposal goes to governor

SPRINGFIELD – The State Senate today approved a proposal to ask voters whether the state should amend its constitution to allow an added tax on income greater than $1 million for education funding. The vote was 33-17.

The proposal, House Bill 3816, would direct the State Board of Elections to put the following question on the Nov. 4, 2014, ballot:

“Should the Illinois Constitution be amended to require that each school district receive additional revenue, based on their number of students, from an additional 3% tax on income greater than one million dollars?”

The question would be advisory only, and would not carry the weight of law.

State Sen. Michael Noland, an Elgin Democrat who is the measure’s sponsor, says he looks forward to putting the question to voters.

“This is a chance for the people of Illinois to signal that they are no longer satisfied with a status quo that is failing students and teachers across the state,” Noland said. “Structural tax reform can provide a more stable footing for education funding for future generations.”

If the state’s constitution were amended in line with the question, the state would bring in an estimated $1 billion for education funding.

The proposal now goes to the governor’s desk for his consideration.

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