IL HR0024

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

Acknowledges that Illinois currently exempts state taxation of retirement income and argues retirees should not face unexpected tax burdens after lifetime financial planning

Emphasizes retirees live on fixed incomes with limited ability to rejoin the workforce, face high healthcare costs, and already pay federal income taxes, property taxes, and sales taxes

Argues that maintaining the retirement income tax exemption encourages current retirees to remain in Illinois and attracts newly retired Americans to relocate to the State

Directs that copies of this resolution be distributed to all Illinois constitutional officers, legislative leaders in both chambers of the General Assembly