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Synopsis As Introduced Amends the Assumed Business Name Act. Provides that filings under the Act shall be in the manner prescribed by the County Clerk. Provides for the renewal of assumed business names every 5 years in counties with a population of 4,000,000 or more inhabitants. Effective immediately.
Senate Committee Amendment No. 1 Provides that the fee for renewal of an assumed name in counties with a population of 4,000,000 or more inhabitants shall be $20 rather than $25.
Replaces everything after the enacting clause. Provides that, if and only if Senate Bill 2531 becomes law in the form in which it passed the House of Representatives, the General Not For Profit Corporation Act of 1986 is amended to provide that: "economic development corporation" means a local not-for-profit, public-private partnership that receives public money to promote the development, establishment, or expansion of industries; "economic development corporation" does not include a trade association, industry trade group, professional association, or business association that is founded and funded by businesses or individuals operating in a specific industry or profession; and "public money" does not include funds received for job training, apprenticeships and federally required education. In provisions concerning the inclusion of members of labor councils on boards of economic development corporations, excludes economic development corporations that do not receive more than $1,500 in public money from a single source.
House Floor Amendment No. 2 In provisions concerning the inclusion of members of labor councils on boards of economic development corporations, excludes economic development corporations that do not receive more than $1,500 annually, rather than cumulatively, in public money from a single source.
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