SB1149sam002 97TH GENERAL ASSEMBLY

Sen. Terry Link

Filed: 4/5/2011

 

 


 

 


 
09700SB1149sam002LRB097 04873 AEK 53795 a

1
AMENDMENT TO SENATE BILL 1149

2    AMENDMENT NO. ______. Amend Senate Bill 1149, AS AMENDED,
3with reference to page and line numbers of Senate Amendment No.
41 as follows:
 
5on page 15, by replacing lines 5 though 10 with the following:
 
6"located. No credit issued under this Section shall reduce a
7taxpayer's liability below zero."; and
 
8on page 17, by replacing lines 13 through 17 with the
9following:
 
10"relocation from the State by the"; and
 
11on page 18, by replacing lines 3 through 5 with the following:
 
12"Pursuant to Section 15, the Department shall adopt appropriate

 

 

09700SB1149sam002- 2 -LRB097 04873 AEK 53795 a

1rules or regulations to be applied to a company for violating
2an agreement. The amount"; and
 
3on page 18, by replacing lines 12 through 22 with the
4following:
 
5"retention projects shall be $750,000 per year;"; and
 
6on page 20, by replacing lines 20 through 26 with the
7following:
 
8"and flood survivor relief project shall be $250,000 per
9year;"; and
 
10on page 21, by replacing lines 1 through 3 with the following:
 
11"in no event shall the total amount of all tax"; and
 
12on page 24, by replacing lines 18 through 22 with the
13following:
 
14    "(j) No credit issued under this Section shall reduce a
15taxpayer's liability below zero."; and
 
16on page 25, by deleting lines 9 through 23; and
 

 

 

09700SB1149sam002- 3 -LRB097 04873 AEK 53795 a

1on page 26, by replacing line 1 with the following:
 
2    "Section 20. Evaluation of the tax credit program. On an
3annual basis, the Department shall evaluate the tax program.
4Prior to March"; and
 
5on page 26, by replacing line 9 with the following:
 
6"companies using the program. The evaluation shall include an
7assessment of the effectiveness of the program in creating new
8jobs in Illinois and of the revenue impact of the program, and
9may include a review of the practices and experiences of other
10states with similar programs.".