SJR 25 - This constitutional amendment, if approved by the voters, will phase out the individual income tax and replace it with an expanded sales tax. From January 1, 2018, to January 1, 2020, the individual income tax is capped at three percent. After January 1, 2020, the individual income tax is eliminated. From January 1, 2018 to January 1, 2020, the state sales tax cannot exceed five percent except on food, which is capped at four percent. After January 1, 2020, the total of the state sales tax, conservation sales tax, and the parks and soils sales tax cannot exceed seven percent. For food, such tax cannot exceed five and one-half percent after January 1, 2020. The General Assembly may increase taxes or fees in the event of an emergency. The total of all sales taxes, including local taxes but excluding transportation development districts and community improvement districts, is capped at ten percent. This cap can be exceeded if higher local taxes are approved at an election or it is the temporary result of a recalculation of local taxes. The tax revenue from the new sales tax will be deposited into the General Revenue Fund and appropriated by the General Assembly unless otherwise restricted by the constitution, except that a portion of the funds received shall be deposited into the School District Trust Fund. The amount deposited in such fund shall not be less than the average annual amount deposited in the fund for fiscal years 2012 to 2016. The new state sales tax will be on all retail sales of new tangible personal property and all taxable services. All existing sales tax exceptions are repealed as of January 1, 2018. The only sales tax exemptions authorized are those specifically listed in the amendment or those passed by a two-thirds majority of the General Assembly. The General Assembly is required to enact a law by January 1, 2020, that continues providing a similar benefit as the Senior Citizens Property Tax Credit. Local sales taxes, the conservation sales tax, and the parks and soils sales tax will be recalculated to produce substantially the same amount of revenue based on the average collections over a five-year period. This amendment creates a property tax relief credit equal to fifty percent of the increase in taxes on a homestead to be used on the taxpayer's current property tax bill. To be eligible, the prior year's tax liability on the residence must have increased by more than five percent in a year of general reassessment or two and one-half percent in a year without reassessment. To qualify for the credit, a taxpayer must be at least sixty-five years of age; have total household income of no more than $75,000, adjusted annually based on the consumer price index; and own a residence of no more than $400,000 in appraised value, adjusted annually based on the consumer price index. Any taxpayer who claims this credit cannot also claim the Senior Citizen Property Tax Credit or any similar credit. This amendment is identical to SJR 11 (2015) and similar to HJR 23 (2015), SJR 46 (2014), HJR 80 (2014) and HJR 25 (2013). DOMENIC SITA