FIFTY-FOURTH LEGISLATURESB 511/a

FIRST SESSION, 2019

March 5, 2019

Mr. President:

    Your CORPORATIONS AND TRANSPORTATION COMMITTEE, to whom has been referred

SENATE BILL 511

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

    1. On pages 5 and 6, strike Paragraph (2) in its entirety.

    2. Renumber the succeeding paragraphs accordingly.

    3. On page 6, line 12, after the comma, insert "each county assessor,".

    4. On page 6, line 15, after "notice", strike the remainder of the line, strike lines 16 through 20 in their entirety, strike line 21 up to the period and insert in lieu thereof the following:

"by one or more of the local governments proposing to issue industrial revenue bonds of the opportunity to commence negotiations among the local government, each local taxing entity and the person proposing the project regarding an annual amount in lieu of taxes that the person will pay or other consideration that the person will give to the local government and each local taxing entity for the period that the local government owns and leases the project; provided that, if a local government, one or more of those local taxing entities and the person proposing the project fail to agree in writing as described in this paragraph to that payment or giving of consideration, then each local taxing entity that fails to agree shall forfeit its right to that remuneration".,

and thence referred to the FINANCE COMMITTEE.

                               Respectfully submitted,

                               ___________________________________

                               SENATOR CLEMENTE SANCHEZ, CHAIRMAN

Adopted_______________________ Not Adopted_______________________

          (Chief Clerk) (Chief Clerk)

                  Date ________________________

The roll call vote was 6 For 0 Against

Yes:      6

No:       0

Excused: Sharer

Recused:  Woods

Absent:   None

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