Illinois General Assembly - Full Text of SB0397
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Full Text of SB0397  97th General Assembly

SB0397ham005 97TH GENERAL ASSEMBLY

Rep. John E. Bradley

Filed: 11/29/2011

 

 


 

 


 
09700SB0397ham005LRB097 04209 HLH 60151 a

1
AMENDMENT TO SENATE BILL 397

2    AMENDMENT NO. ______. Amend Senate Bill 397, AS AMENDED,
3with reference to page and line numbers of House Amendment No.
43, on page 3, line 4, by deleting "(i)"; and
 
5on page 3, by replacing lines 6 and 7 with the following:
6"all taxes administered by the Department of Revenue."; and
 
7on page 3, line 10, by deleting "(i)"; and
 
8on page 3, by replacing lines 12 and 13 with the following:
9"taxes administered by the Department of Revenue."; and
 
10on page 39, line 10, after "area,", by inserting "except as
11provided in subsection (c) of this Section,"; and
 
12on page 39, immediately below line 20, by inserting the
13following:

 

 

09700SB0397ham005- 2 -LRB097 04209 HLH 60151 a

1    "(c) In the event the developer maintains no jobs at any
2time before the termination of the economic development project
3area, the municipality shall adopt an ordinance dissolving the
4special tax allocation fund for the economic development
5project area and terminating the economic development project
6area as an economic development project area. That ordinance
7shall be adopted no later than one year after the date that the
8developer maintains no jobs within the economic development
9project area. All excess moneys in the special tax allocation
10fund shall be distributed to the taxing districts in the same
11manner and proportion as the most recent distribution by the
12county collector to those taxing districts in the economic
13development project area."; and
 
14on page 43, by replacing line 13 with the following:
15"independent certified public accountant licensed by".