Rep. John E. Bradley
Filed: 5/30/2011
 
 

 

 

 
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1
AMENDMENT TO SENATE BILL 540




2    AMENDMENT NO. ______. Amend Senate Bill 540, AS AMENDED, 
3with reference to page and line numbers of House Amendment No. 
43, on page 117, by replacing lines 10 through 18 with the 
5following:


6    "On and after January 1, 2012, revenues
used pursuant to 
7this subsection shall be used only for the
mutual benefit of 
8the redevelopment project area that the
revenues were received 
9from and the redevelopment project area
to which the revenues 
10were sent. A redevelopment project area  that uses revenues 
11pursuant to this subsection for
reimbursement of private 
12developer costs may not transfer
revenues to another 
13redevelopment project area before repaying
the redevelopment 
14project area from which the revenues were
received. 
15Notwithstanding the above, in a municipality with a
population 
16of less than 25,000 inhabitants, public works or improvements 
17as
defined in paragraph (4) of subsection (q) of Section 
1811-74.4-3




  shall not be subject to this transfer prohibition.  "; 
 
 
09700SB0540ham005- 2 -LRB097 04293 KMW 56615 a

1and
 
2on page 146, by replacing lines 25 and 26 with the following:
3"population of less than 25,000 inhabitants, public works or 
4improvements as defined in paragraph (4) of subsection (q) of 
5Section 11-74.4-3".