IL HR0029

Expresses the Illinois House of Representatives' belief that the Illinois Income Tax Act should not be amended to permit taxation of retirement income.

Asserts that retirees live on fixed incomes with limited ability to rejoin the workforce, face high health care costs, and have little savings capacity.

Notes that retirees already pay federal income taxes, property taxes, and sales taxes, and could not have anticipated sudden state taxation of retirement income during their lifetime of planning.

States that exempting retirement income from state taxation encourages current retirees to remain in Illinois and attracts newly retired Americans to relocate to the state.

Directs distribution of the resolution to Illinois constitutional officers, leadership of both chambers of the General Assembly, and leadership of the Illinois Senate.