Amend SB 262 as follows:  on page 1, line 38, insert the
following after the word "annexation.":
"For an annexation that is subject to pre-clearance by a federal
authority, a payment will be considered timely if the municipality
(i) escrows the reimbursable amounts determined in accordance with
subsection (c), below, prior to the effective date of the
annexation; and (ii) subsequently causes the escrowed funds and
accrued interest to be disbursed to the developer within five (5)
business days after the municipality receives notice of the
pre-clearance."