SB2466sam001 93RD GENERAL ASSEMBLY

Sen. Iris Y. Martinez

Filed: 2/25/2004

09300SB2466sam001 LRB093 15357 BDD 47953 a

AMENDMENT TO SENATE BILL 2466

AMENDMENT NO. ______. Amend Senate Bill 2466 on page 2, by replacing lines 29 through 35 with the following:

"Sec. 15-178. Homestead improvements; fire safety system. Homestead properties that (i) have been improved with a fire safety sprinkler system after January 1, 2004 or (ii) have been modified after January 1, 2004 to comply with a fire safety compliance plan approved by the applicable local authorities are entitled to a fire safety homestead improvement exemption, limited to $2,500 or the actual cost of installation or modification, whichever is less, for the year that the system is installed or the modification is made, and $100 each year thereafter that the system or modification remains in place, in"; and

on page 3, by replacing line 16 with the following:

"system or the cost of making a building modification to comply with a life safety compliance plan is recouped by special assessment or similar assessment imposed by a"; and

on page 3, by replacing lines 19 and 20 with the following:

"cost of installation or modification" for the year that the system is installed or the modification is made with respect to that unit or apartment shall be the"; and

on page 3, immediately below line 35, by inserting the following:

"For purposes of this Section, "life safety compliance plan" means a plan concerning public safety adopted by a unit of local government that is imposed upon a building owner as an alternative or supplement to any requirement concerning a fire safety sprinkler system.".