.................... moves to amend H.F. No. 3729, the delete everything amendment
(A10-2559), as follows:
Page 61, after line 6, insert:
"Section 1. CONSTITUTIONAL AMENDMENT PROPOSED.
1.5An amendment to the Minnesota Constitution is proposed to the people. If the
1.6amendment is adopted, a section shall be added to article X, to read:
1.7Sec. 9. (a) An additional individual income tax is imposed on the highest income
1.8one percent of households. The commissioner of revenue must annually estimate the
1.9taxable income threshold for the highest income one percent of households, except that
1.10the income threshold for married couples filing separate returns, estates, and trusts is
1.11one-half the threshold for all other filing statuses. The additional income tax applies to
1.12taxable income in excess of the threshold. The commissioner must annually calculate the
1.13rate of the additional income tax so that the overall effective tax rate for all state and local
1.14taxes for the highest one percent of households equals the overall effective tax rate for all
1.15state and local taxes for the remaining 99 percent of households.
1.16(b) No later than December 15 of each year, the commissioner must announce the
1.17taxable net income threshold and the rate of the additional income tax.
Sec. 2. SUBMISSION TO VOTERS.
1.19The proposed amendment must be submitted to the people at the 2010 general
1.20election. The question submitted must be:
1.21"Shall the Minnesota Constitution be amended to impose an additional income tax
1.22on the highest income one percent of households, so that their total tax rate taking into
1.23account all state and local taxes equals the total tax rate for the remaining 99 percent
Renumber the sections in sequence and correct the internal references
Amend the title accordingly