SB0397ham005 97TH GENERAL ASSEMBLY

Rep. John E. Bradley

Filed: 11/29/2011

09700SB0397ham005 LRB097 04209 HLH 60151 a

AMENDMENT TO SENATE BILL 397

AMENDMENT NO. ______. Amend Senate Bill 397, AS AMENDED, with reference to page and line numbers of House Amendment No. 3, on page 3, line 4, by deleting "(i)"; and

on page 3, by replacing lines 6 and 7 with the following: "all taxes administered by the Department of Revenue."; and

on page 3, line 10, by deleting "(i)"; and

on page 3, by replacing lines 12 and 13 with the following: "taxes administered by the Department of Revenue."; and

on page 39, line 10, after "area,", by inserting "except as provided in subsection (c) of this Section,"; and

on page 39, immediately below line 20, by inserting the following:

"(c) In the event the developer maintains no jobs at any time before the termination of the economic development project area, the municipality shall adopt an ordinance dissolving the special tax allocation fund for the economic development project area and terminating the economic development project area as an economic development project area. That ordinance shall be adopted no later than one year after the date that the developer maintains no jobs within the economic development project area. All excess moneys in the special tax allocation fund shall be distributed to the taxing districts in the same manner and proportion as the most recent distribution by the county collector to those taxing districts in the economic development project area."; and

on page 43, by replacing line 13 with the following: "independent certified public accountant licensed by".