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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.".