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91_SB0011sam003
LRB9101143PTpkam06
1 AMENDMENT TO SENATE BILL 11
2 AMENDMENT NO. . Amend Senate Bill 11, AS AMENDED,
3 with reference to page and line numbers of Senate Amendment
4 No. 1, on page 1, line 18, by replacing "owning," with
5 "beneficially owning, whether through rights, options,
6 convertible interests, or otherwise,"; and
7 on page 1, line 19, by replacing "10%" with "25%"; and
8 on page 2, line 3, by replacing "10%" with "25%"; and
9 on page 2, by replacing line 5 with "directly or indirectly
10 beneficially owned, whether through rights, options,
11 convertible interests, or otherwise, controlled, or held
12 with"; and
13 on page 2, line 22, before "its", by inserting "or both"; and
14 on page 4, line 1, before "and", by inserting "an annualized
15 internal rate of return (calculated using the purchase price
16 of the qualified debt instrument, all payments of principal
17 and interest, and all future tax credits projected to be
18 received) not to exceed 3.5% over the then current yield of
19 the most recently issued 10-year U.S. Treasury security at
20 the time of issuance of the qualified debt instrument,"; and
21 on page 4, line 2, after "component", by inserting "(unless
-2- LRB9101143PTpkam06
1 the equity component is severable from and not considered a
2 part of the qualified debt instrument)"; and
3 on page 4, by replacing lines 5 through 9 with "capital
4 company's investment portfolio."; and
5 on page 4, line 11, by replacing "to equity holders of" with
6 "from"; and
7 on page 4, line 13, by replacing "Costs" with "Reasonable
8 costs"; and
9 on page 4, line 18, by replacing "company" with "company,
10 provided that no distribution or payment is directly or
11 indirectly made to a certified investor,"; and
12 on page 6, by replacing lines 21 through 23 with the
13 following:
14 "(g) No insurance company, group of insurance companies,
15 affiliate of an insurance company, group of affiliates of an
16 insurance company, or combination of insurance companies,
17 affiliates, or groups shall, directly or indirectly, manage a
18 certified capital company, beneficially own 10% or more,
19 whether through rights, options, convertible interests, or
20 otherwise, of the"; and
21 on page 6, line 26, after "an", by inserting "insurance
22 company or affiliate of an insurance company from possessing
23 voting rights with respect to certain extraordinary issues,
24 or"; and
25 on page 12, line 28, by replacing "to its equity holders,"
26 with "or payment,".