Sen. Toi W. Hutchinson

Filed: 11/29/2011





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2    AMENDMENT NO. ______. Amend House Bill 1883, AS AMENDED,
3with reference to page and line numbers of Senate Amendment No.
47, on page 39, line 10, after "area,", by inserting "except as
5provided in subsection (c),"; and
6on page 39, immediately below line 20, by inserting the
8    "(c) In the event that the developer maintains no jobs at
9any time before the termination of the economic development
10project area, the municipality shall adopt an ordinance
11dissolving the special tax allocation fund for the economic
12development project area and terminating the economic
13development project area as an economic development project
14area. That ordinance shall be adopted no later than one year
15after the date that the developer maintains no jobs within the
16economic development project area. All excess moneys in the
17special tax allocation fund shall be distributed to the taxing



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1districts in the same manner and proportion as the most recent
2distribution by the county collector to those taxing districts
3in the economic development project area.".