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78S41492 DAK-D

By:  Duncan                                                     S.J.R. No. 8  



A JOINT RESOLUTION

proposing a constitutional amendment authorizing a business tax, 
including on the income of individuals who benefit from personal 
liability limitations, and dedicating the revenue from the tax to 
fund public education.
	BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:                       
	SECTION 1.  Article VIII, Texas Constitution, is amended by 
adding Section 25 to read as follows:
	Sec. 25.  (a)  The legislature by general law may impose a 
business tax on an entity doing business in this state for:
		(1)  the privilege of doing business in this state; and                
		(2)  the benefit of limitations on the personal 
liability of individuals who are owners, partners, shareholders, 
officers, or directors of the entity.
	(b)  All net revenue remaining after payment of all refunds 
allowed by law and expenses of collection from the tax shall be used 
only for the support of public education.
	(c)  Section 24 of this article does not apply to a tax 
imposed under this section.
	SECTION 2.  This proposed constitutional amendment shall be 
submitted to the voters at an election to be held November 2, 2004.  
The ballot shall be printed to permit voting for or against the 
proposition:  "The constitutional amendment authorizing a business 
tax, including on the income of individuals who benefit from 
personal liability limitations, and dedicating the revenue from the 
tax to fund public education."