CONAMEND-TABOR

Proposes to amend the Revenue Article of the Illinois Constitution. Creates the Taxpayer's Bill of Rights. Provides that the State, units of local government, and school districts must have referendum approval to: (1) enact a new tax, tax rate increase, valuation for assessment ratio increase for a property class, extend an expiring tax, or enact certain tax policy changes; or (2) incur certain obligations without adequate cash reserves. Contains provisions concerning emergency taxes. Contains provisions setting spending limits for the State, units of local government, and school districts. Effective upon being declared adopted.