Curious about Amendment 1 and its implications? Join Kylie Spies with Common Good Iowa for this presentation about the constitutional amendment that’s on the November ballot in our state.
The proposed Amendment 1 would require a two-thirds (66.67%) vote of both chambers of the state legislature to pass a bill that would increase the individual or corporate income tax rate or create a new income tax. Amendment 1 would not require local option taxes to be approved by a two-thirds majority.
Amendment 1 would also require a two-thirds vote of both chambers of the state legislature to pass a bill that would create a new tax on legal and special reserves. Legal and special reserves are funds that Iowa credit unions are required to maintain as a financial safeguard against risks and losses.
Lastly, under Amendment 1, if a lawsuit is filed challenging the enactment of any bill, claiming that it should have required a two-thirds majority but did not receive it, the lawsuit must be filed within one year of the bill's enactment. The amendment would require bills that need a two-thirds majority to include a provision that describes the requirement.
What does all of this mean for you and our community? Make plans to attend tonight’s session to find out more.
This event is sponsored by the League of Women Voters of Johnson County and the Iowa City Public Library.
This live event will also be streamed live on the Library's YouTube channel.