Rep. John D. Cavaletto

Filed: 3/10/2011

 

 


 

 


 
09700HB2500ham001LRB097 07614 PJG 52690 a

1
AMENDMENT TO HOUSE BILL 2500

2    AMENDMENT NO. ______. Amend House Bill 2500 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Tennessee Valley Authority Payment Act is
5amended by changing Section 1 as follows:
 
6    (30 ILCS 250/1)  (from Ch. 120, par. 1601)
7    Sec. 1. Beginning October 1, 1981 and each October 1,
8thereafter 30% of the total annual fiscal year payment received
9by the State of Illinois from the Tennessee Valley Authority,
10pursuant to Section 13 of the Tennessee Valley Authority Act of
111933 (16 USCA 831, et seq.), as amended, shall be deposited in
12the General Revenue Fund. Seventy percent of such payment shall
13be divided among counties in Illinois in which the Tennessee
14Valley Authority has coal reserved, and which counties
15themselves receive direct payments pursuant to Section 13 of
16the Tennessee Valley Authority Act of 1933 (16 USCA 831, et

 

 

09700HB2500ham001- 2 -LRB097 07614 PJG 52690 a

1seq.), as amended. Moneys distributed to any such county shall
2be deposited in its general fund.
3    The payment to each county shall bear the same proportion
4to the total amount to be divided as the book value of
5Tennessee Valley Authority property in such county bears to the
6net book value of Tennessee Valley Authority property in all
7counties eligible to receive a share of the amount to be
8divided. Such distributions to the counties shall be made as
9soon as possible after October 1 of each year. Book values
10shall be determined as of the immediately preceding calendar
11year.
12    The changes made to this Section by this amendatory Act of
13the 97th General Assembly are declarative of existing law and
14are not a new enactment.
15(Source: P.A. 82-713.)
 
16    Section 99. Effective date. This Act takes effect upon
17becoming law.".