[ Search ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
| [ Introduced ] | [ Engrossed ] | [ Enrolled ] |
| [ House Amendment 001 ] | [ House Amendment 002 ] |
91_HB0306sam001
LRB9100182PTpkam05
1 AMENDMENT TO HOUSE BILL 306
2 AMENDMENT NO. . Amend House Bill 306 on page 1, line
3 7, by replacing "11-74.6-35 and 11-74.6-45" with "11-74.6-35,
4 11-74.6-45, and 11-74.6-50"; and
5 on page 47, by replacing lines 13 through 15 with the
6 following:
7 "(65 ILCS 5/11-74.6-50)
8 Sec. 11-74.6-50. On or before the date which is 60
9 months following the date on which this amendatory Act of
10 1994 becomes law, the Department shall submit to the General
11 Assembly a report detailing the number of redevelopment
12 project areas that have been established, the number and type
13 of jobs created or retained therein, the aggregate amount of
14 tax increment incentives provided, the aggregate amount of
15 private investment produced therein, the amount of tax
16 increment revenue produced and available for expenditure
17 within the tax increment financing districts and such
18 additional information as the Department may determine to be
19 relevant. On or after the date which is 16 years 72 months
20 following the date on which this amendatory Act of 1994
21 becomes law the authority granted hereunder to municipalities
22 to establish redevelopment project areas and to adopt tax
-2- LRB9100182PTpkam05
1 increment allocation financing in connection therewith shall
2 expire unless the General Assembly shall have authorized
3 municipalities to continue to exercise said powers.
4 (Source: P.A. 88-537.)".