Sen. Toi W. Hutchinson
Filed: 11/29/2011
 
 

 

 

 
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1
AMENDMENT TO HOUSE BILL 1883 




2    AMENDMENT NO. ______. Amend House Bill 1883, AS AMENDED, 
3with reference to page and line numbers of Senate Amendment No. 
47, on page 39, line 10, after "area,", by inserting "except as 
5provided in subsection (c),"; and


 
6on page 39, immediately below line 20, by inserting the 
7following:
8    "(c) In the event that the developer maintains no jobs at 
9any time before the termination of the economic development 
10project area, the municipality shall adopt an ordinance 
11dissolving the special tax allocation fund for the economic 
12development project area and terminating the economic 
13development project area as an economic development project 
14area.  That ordinance shall be adopted no later than one year 
15after the date that the developer maintains no jobs within the 
16economic development project area. All excess moneys in the 
17special tax allocation fund shall be distributed to the taxing 
 
 
09700HB1883sam008- 2 -LRB097 08685 HLH 60154 a

1districts in the same manner and proportion as the most recent 
2distribution by the county collector to those taxing districts 
3in the economic development project area.".