Amendment SA1-SB460

LRBa1436/1

GMM:kmg:pg

2001 - 2002 LEGISLATURE

SENATE AMENDMENT 1, TO 2001 SENATE BILL 460

March 6, 2002 - Offered by Committee on Labor and Agriculture.

SB460-SA1,1,1 At the locations indicated, amend the bill as follows:

SB460-SA1,1,2 1. Page 8, line 21: delete lines 21 to 25.

SB460-SA1,1,3 2. Page 9, line 1: delete lines 1 and 2 and substitute:

SB460-SA1,1,11 "(am) Immediate recission of any or all business assistance that was provided to the business in an amount determined by the department, with the business to repay that amount according to a schedule determined by the department, plus a penalty in an amount determined by the department, not to exceed 10% of the amount of business assistance rescinded under this paragraph, and interest on that amount at a rate determined by the department, not to exceed the rate of 18% per year, from the date of receipt of the business assistance to the date of payment of the amount due.

SB460-SA1,2,3 (bm) Ineligibility for any further business assistance for a period determined by the department, not to exceed 10 years after the date of noncompliance as determined by the department.".

SB460-SA1,2,4 (End)