Any ordinance or resolution listed below in paragraphs (a) or (b) will not become effective, after passage thereof, until Council submits such ordinance or resolution to the electorate at a regular municipal or general election occurring more than ninety (90) days after the passage of the ordinance or resolution, and such ordinance or resolution is approved by a majority of the electors voting thereon in the city:
(a) One approving or providing for any increase, or the renewal or the extension of any increase in the municipal income tax rate charged upon any and all income taxable within the City of Elyria; or
(b) One approving or providing for any decrease, or the renewal or extension of any decrease in the municipal income tax credit allowable for any and all income taxable within the City of Elyria.
(Enacted 5-8-07)