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Illinois House passes 'Millionaires Tax' proposal

Published: Friday, May 23, 2014 11:04 a.m. CST
Caption
(T.J. Salsman)
FILE - In this Nov. 14, 2006, file photo, Illinois House Speaker Michael Madigan, D-Chicago, presides over the veto session in Springfield, Ill., at the Old State Capitol. Just how Madigan has become the longest serving House speaker in the U.S. will be on display in the next few weeks, as he crafts a tricky vote to extend the state's "temporary" income tax while protecting vulnerable members of his caucus _ and his majority _ from retribution in there 2014 November's election. (AP Photo/The State Journal-Register, T.J. Salsman, File)

SPRINGFIELD – A renewed effort to tax the state's millionaires has passed the Illinois House.

The chamber Friday approved the legislation sponsored by Democratic House Speaker Madigan by a 64-46 vote. The proposal would place a non-binding resolution on the November ballot asking voters if the Illinois Constitution should be amended to add a 3 percent surcharge to incomes of more than $1 million.

An earlier effort to amend the constitution failed last month when Madigan was unable to get enough backing in the Democrat-controlled House.

Madigan says the initiative will help build support for the proposal in the Legislature next year.

But Republicans say the matter should rest in the hands of the Legislature.

The measure now heads to the Senate.

The bill is HB3816.

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