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RESOLUTION NO. 29-71 <br />WHEREAS, House Bill 366 amends the Income Tax Act lowering <br />income tax from 22% to 2% and lowers corporate income tax from <br />4% to 3.2% of such taxpayer's net income for the taxable year. <br />NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD <br />OF TRUSTEES OF THE VILLAGE OF ELK GROVE VILLAGE: <br />SECTION 1: That the Village of Elk Grove Village is opposed <br />to House Bill 366, as the passage of this bill would be a serious <br />financial loss to all municipalities. <br />SECTION 2: That the Village of Elk Grove Village believes <br />the Income Tax Act in its present form is a fair and equitable <br />method of taxation for all citizens of Illinois and eliminates a <br />tax burden for the real estate owner. <br />SECTION <br />3: <br />That <br />House <br />Bill <br />366 <br />be defeated. <br />SECTION <br />4: <br />That <br />copies <br />of <br />this <br />resolution be distributed <br />appropriate members of the 77th General Assembly and the Governor <br />of the State of Illinois. <br />SECTION 5: That this resolution shall be in full force and <br />effect from and after its passage and approval according to law. <br />PASSED this 6th _ day of April , 1971, <br />APPROVED this 6th _ day of April , 1971. <br />ATTEST: <br />/ 7 <br />Acting,V;IIage Clerk <br />