AMENDMENT FOR SENATE STATE AFFAIRS COMMITTEE ENGROSSED BILL
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___________________ moved that SB 112 be amended as follows:


    On the Senate State Affairs Committee engrossed bill, delete everything after the enacting clause and insert:

"    Section 1. That § 11-9-23 be amended to read:

    11-9-23. If the municipality adopts an amendment to the original project plan for any district, which includes additional project costs for which tax increments may be received by the municipality, the tax incremental base for the district shall be redetermined pursuant to § 11-9-20. The tax incremental base as redetermined under this section is effective for the purposes of this chapter only if it exceeds the original tax incremental base determined under § 11-9-20. The provisions of this section do not apply if the additional project costs are thirty-five percent or less than the amount approved in the original project plan and the additional project costs will be incurred before the expiration of the period specified in § 11-9-13. "