SB 1-24_ Filed 11/24/2003, 10:53 Simpson

SENATE MOTION


MR. PRESIDENT:

    I move
that Senate Bill 1 be amended to read as follows:

SOURCE: Page 103, line 34; (04)MO000118.103. -->     Page 103, between lines 34 and 35, begin a new paragraph and insert:
    " (b) The commission on state tax and financing policy established under IC 2-5-3 shall evaluate the tax burden imposed on individuals, businesses, and other major taxpayer classes by the state gross retail tax (IC 6-2.5), the adjusted gross income tax (IC 6-3), local option income taxes (IC 6-3.5), the financial institutions tax (IC 6-5.5), the utility receipts tax (IC 6-2.3), the insurance premium tax (IC 27-1-18-2), excise taxes (IC 6-6), and ad valorem property taxes (IC 6-1.1). In preparing its evaluation, the commission must review the incidence of the taxes described in this subsection:
        (1) on income classes (including, at a minimum, quintiles of the income distribution for individuals), on renters and homeowners, and on industry or business classes;
        (2) by other appropriate taxpayer characteristics, such as
whether the taxpayer is a farmer or retired person; and
        (3) by distribution of impact on consumers, labor, and capital.
".
    Page 103, line 35, delete "(b)" and insert " (c)".
    (Reference is to SB 1 as printed November 21, 2003.)

________________________________________

Senator SIMPSON


MO000118/DI 44
2004