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90_HB2061sam002
LRB9005374PTcwam02
1 AMENDMENT TO HOUSE BILL 2061
2 AMENDMENT NO. . Amend House Bill 2061 on page 1,
3 immediately below line 6, by inserting the following:
4 "(Section scheduled to be repealed on December 31,
5 2002)"; and
6 on page 1, line 28, before "The", by inserting the following:
7 "Each small business incubator shall be eligible for a grant
8 equal to no more than 50% of the amount of State income taxes
9 paid in the previous year by qualified tenant businesses of
10 the small business incubator, minus administrative costs.";
11 and
12 on page 2, immediately below line 26, by inserting the
13 following:
14 "(f) Five percent of the amount that is appropriated
15 annually into the Small Business Incubator Fund shall be
16 allotted to the Department of Commerce and Community Affairs
17 for the purpose of administering, overseeing, and evaluating
18 the grant process and outcome.
19 (g) This Section is repealed on December 31, 2002. The
20 evaluation of the effectiveness of the grant process and
21 subsequent outcome of job and business creation shall
22 recommend the continuation or the repeal of this Section and
23 shall be submitted to the Governor and the General Assembly
-2- LRB9005374PTcwam02
1 before December 31, 2001.".