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| 1 | AMENDMENT TO SENATE BILL 397
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| 2 | AMENDMENT NO. ______. Amend Senate Bill 397, AS AMENDED, | ||||||
| 3 | with reference to page and line numbers of House Amendment No. | ||||||
| 4 | 3, on page 3, line 4, by deleting "(i)"; and | ||||||
| 5 | on page 3, by replacing lines 6 and 7 with the following: | ||||||
| 6 | "all taxes administered by the Department of Revenue."; and | ||||||
| 7 | on page 3, line 10, by deleting "(i)"; and | ||||||
| 8 | on page 3, by replacing lines 12 and 13 with the following: | ||||||
| 9 | "taxes administered by the Department of Revenue."; and | ||||||
| 10 | on page 39, line 10, after "area,", by inserting "except as | ||||||
| 11 | provided in subsection (c) of this Section,"; and
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| 12 | on page 39, immediately below line 20, by inserting the | ||||||
| 13 | following: | ||||||
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| 1 | "(c) In the event the developer maintains no jobs at any | ||||||
| 2 | time before the termination of the economic development project | ||||||
| 3 | area, the municipality shall adopt an ordinance dissolving the | ||||||
| 4 | special tax allocation fund for the economic development | ||||||
| 5 | project area and terminating the economic development project | ||||||
| 6 | area as an economic development project area. That ordinance | ||||||
| 7 | shall be adopted no later than one year after the date that the | ||||||
| 8 | developer maintains no jobs within the economic development | ||||||
| 9 | project area. All excess moneys in the special tax allocation | ||||||
| 10 | fund shall be distributed to the taxing districts in the same | ||||||
| 11 | manner and proportion as the most recent distribution by the | ||||||
| 12 | county collector to those taxing districts in the economic | ||||||
| 13 | development project area."; and | ||||||
| 14 | on page 43, by replacing line 13 with the following: | ||||||
| 15 | "independent certified public accountant licensed by".
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