State of Illinois
92nd General Assembly
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92_HB0732ham001

 










                                             LRB9201568TAtmam

 1                     AMENDMENT TO HOUSE BILL 732

 2        AMENDMENT NO.     .  Amend House Bill  732  by  replacing
 3    the title with the following:
 4        "AN ACT concerning economic development."; and

 5    by  replacing  everything  after the enacting clause with the
 6    following:

 7        "Section 5.  The Illinois Development  Finance  Authority
 8    Act is amended by changing Section 5 as follows:

 9        (20 ILCS 3505/5) (from Ch. 48, par. 850.05)
10        Sec. 5.  All official acts of the Authority shall require
11    the approval of at least 9 8 members. It shall be the duty of
12    the Authority to promote employment within those areas of the
13    State  duly  certified from time to time by the Department of
14    Commerce and Community Affairs as  areas  of  critical  labor
15    surplus.  To  this end the Authority shall utilize the powers
16    herein conferred upon it to assist  in  the  development  and
17    construction  or  acquisition  of  industrial projects within
18    such areas of the State.
19        The Authority is hereby authorized to utilize its  powers
20    with respect to prospective industrial projects to be located
21    at  any  given  time  within any general areas then currently
 
                            -2-              LRB9201568TAtmam
 1    certified by the Department of Commerce and Community Affairs
 2    as areas of critical labor surplus. In addition,  upon  being
 3    requested to utilize its powers with respect to a prospective
 4    industrial  project  to  be located outside of any areas then
 5    currently certified as areas of critical labor  surplus,  the
 6    Authority  may  refer  such  request  to  the  Department  of
 7    Commerce  and  Community  Affairs for its determination as to
 8    whether the proposed location is within any specific area  of
 9    critical  labor  surplus not hitherto generally certified. If
10    the proposed location is certified by the Department as being
11    within an area of critical labor surplus, the  Authority  may
12    similarly utilize its powers with respect to such prospective
13    industrial project.
14        In   evaluating   the   eligibility  of  any  prospective
15    industrial project to be located within any area of  critical
16    labor   surplus,   the  Authority  shall  consider,  (1)  the
17    financial responsibility of  the  prospective  applicant  and
18    user, and (2) the relationship between the amount of funds to
19    be  provided  by  exercise of powers of the Authority and the
20    degree to which the project (A) will contribute  to  creation
21    or  retention  of  employment,  including  employment  in the
22    construction industry, (B) will contribute  to  the  economic
23    development  of  the  area in which the industrial project is
24    located and (C) will produce  goods  or  services  for  which
25    there is a need or demand.
26    (Source: P.A. 84-1023.)

27        Section  99.  Effective date.  This Act takes effect upon
28    becoming law.".

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