Proposing an amendment to the Constitution of the State of Iowa relating to requirements for certain state tax law changes

This joint resolution proposes an amendment to the Constitution of the State of Iowa, for adoption by the second consecutive general assembly, relating to restrictions on certain tax law changes. The amendment requires a bill that increases the individual income tax rate or corporate income tax rate, or the rate of any other type of tax based upon income or legal and special reserves, to be adopted by at least two-thirds of the members elected to each house of the general assembly. In addition, the amendment requires a bill that establishes a new tax on any type of income or legal and special reserves imposed by the state to be adopted by at least two-thirds of the members elected to each house of the general assembly. A lawsuit challenging enactment of a bill subject to the two-thirds majority passage requirement must be filed no later than one year following the enactment of the bill. Finally, the amendment requires the general assembly to enact laws to implement the amendment. The resolution, if adopted, would be submitted to the electorate for ratification at the general election in November 2026.