SB1149sam002 97TH GENERAL ASSEMBLY

Sen. Terry Link

Filed: 4/5/2011

09700SB1149sam002 LRB097 04873 AEK 53795 a

AMENDMENT TO SENATE BILL 1149

AMENDMENT NO. ______. Amend Senate Bill 1149, AS AMENDED, with reference to page and line numbers of Senate Amendment No. 1 as follows:

on page 15, by replacing lines 5 though 10 with the following:

"located. No credit issued under this Section shall reduce a taxpayer's liability below zero."; and

on page 17, by replacing lines 13 through 17 with the following:

"relocation from the State by the"; and

on page 18, by replacing lines 3 through 5 with the following:

"Pursuant to Section 15, the Department shall adopt appropriate rules or regulations to be applied to a company for violating an agreement. The amount"; and

on page 18, by replacing lines 12 through 22 with the following:

"retention projects shall be $750,000 per year;"; and

on page 20, by replacing lines 20 through 26 with the following:

"and flood survivor relief project shall be $250,000 per year;"; and

on page 21, by replacing lines 1 through 3 with the following:

"in no event shall the total amount of all tax"; and

on page 24, by replacing lines 18 through 22 with the following:

"(j) No credit issued under this Section shall reduce a taxpayer's liability below zero."; and

on page 25, by deleting lines 9 through 23; and

on page 26, by replacing line 1 with the following:

"Section 20. Evaluation of the tax credit program. On an annual basis, the Department shall evaluate the tax program. Prior to March"; and

on page 26, by replacing line 9 with the following:

"companies using the program. The evaluation shall include an assessment of the effectiveness of the program in creating new jobs in Illinois and of the revenue impact of the program, and may include a review of the practices and experiences of other states with similar programs.".