Rep. Arthur L. Turner
Filed: 5/21/2007
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1 | AMENDMENT TO HOUSE BILL 3676
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2 | AMENDMENT NO. ______. Amend House Bill 3676 as follows:
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3 | on page 1, line 17, after " Illinois. " by inserting " The Fund is | ||||||
4 | also intended to provide investment capital for growth | ||||||
5 | industries in areas with low population density. "; and | ||||||
6 | on page 2, immediately below line 5, by inserting the | ||||||
7 | following: | ||||||
8 | " (d) The Department shall determine if an area of the State | ||||||
9 | is an "economically depressed community" on a case-by-case | ||||||
10 | basis for a census tract, city, or county of which the area is | ||||||
11 | a part based on the following criteria: | ||||||
12 | (1) whether the unemployment rates are higher than the | ||||||
13 | State average; | ||||||
14 | (2) whether the percentage of low and moderate income | ||||||
15 | residents exceeds 51% of the total population; |
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1 | (3) whether the area has been designated a labor | ||||||
2 | surplus area by the United States Department of Labor; | ||||||
3 | (4) whether the area has been designated as a tax | ||||||
4 | increment finance district, a State enterprise zone, or a | ||||||
5 | federal empowerment zone; | ||||||
6 | (5) whether the delinquency rate of real estate assets | ||||||
7 | at insured depository institutions is higher than the State | ||||||
8 | average or is marked by other evidence indicating declining | ||||||
9 | real estate values; and | ||||||
10 | (6) whether the area has experienced job loss in the | ||||||
11 | preceding 24 months due to closure or downsizing of | ||||||
12 | industry. "; and | ||||||
13 | on page 2, line 6, by replacing " (d) " with " (e) ".
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