When the taxable income of a resident of the Municipality is subject to a municipal income tax in another municipality and/or Joint Economic Development District or Joint Economic Development Zone on the same income taxable by the Municipality, Council shall make provision for granting the resident a credit of the amount of income tax paid on such taxable income to such other municipality or Joint Economic Development District or Joint Economic Development Zone equal to one hundred percent (100%) of the amount obtained by multiplying the lower of the tax rate of such other municipality or Joint Economic Development District or Joint Economic Development Zone or of the Municipality by the taxable income earned in or attributable to the municipality or Joint Economic Development District or Joint Economic Development Zone of employment or business activity. Council may not decrease the amount of such credit without having obtained the approval for such decrease by a majority of the electors of the Municipality voting on the question at a general election. (Amended 11-2-10)