PRINTER'S NO. 756
No. 674 Session of 1975
INTRODUCED BY McCUE, KNEPPER, TADDONIO AND SCHMITT,
MARCH 5, 1975
REFERRED TO COMMITTEE ON BUSINESS AND COMMERCE, MARCH 10, 1975
AN ACT
1 Amending the act of May 17, 1956 (P.L.1609, No.537), entitled
2 "An act to promote the welfare of the people of the
3 Commonwealth by the reduction of unemployment in certain
4 areas of the Commonwealth determined to be critical economic
5 areas; providing for the establishment of industrial
6 development projects in such areas; creating The Pennsylvania
7 Industrial Development Authority as a body corporate and
8 politic with power to allocate funds for and make secured
9 loans to industrial development agencies for the payment of a
10 part of the cost of industrial development projects in
11 critical economic areas; authorizing the Authority to enter
12 into agreements with the Government of the United States or
13 any Federal agency or industrial development agency;
14 empowering the Authority to take title to, sell, convey and
15 lease industrial development projects where necessary to
16 protect loans made by the Pennsylvania Industrial Development
17 Authority on industrial development projects; providing that
18 no debt of the Commonwealth, its municipalities or political
19 subdivisions shall be incurred in the exercise of any powers
20 granted by this act; and providing for the examination of the
21 accounts and affairs of the Authority; and making an
22 appropriation," extending the application of the act to the
23 expansion of railroad transportation facilities.
24 The General Assembly of the Commonwealth of Pennsylvania
25 hereby enacts as follows:
26 Section 1. Section 2, act of May 17, 1956 (P.L.1609,
27 No.537), known as the "Pennsylvania Industrial Development
28 Authority Act," is amended by adding a clause to read:
1 Section 2. Findings and Declaration of Policy.--It is hereby
2 determined and declared as a matter of legislative finding--
3 * * *
4 (m) That there is a need to encourage and facilitate
5 industrial development by the expansion of railroad
6 transportation facilities.
7 * * *
8 Section 2. Clause (i) of section 3 of the act, amended June
9 16, 1972 (P.L.475, No.153), is amended to read:
10 Section 3. Definitions.--The following terms, whenever used
11 or referred to in this act, shall have the following meanings,
12 except in those instances where the context clearly indicates
13 otherwise:
14 * * *
15 (i) The term "industrial development project" shall mean any
16 land, site, structure, facility or undertaking comprising or
17 being connected with or being a part of (i) an industrial
18 enterprise, (ii) a manufacturing enterprise, (iii) a research
19 and development enterprise, [or] (iv) an agricultural
20 enterprise, or (v) the expansion of a railroad transportation
21 facility including railroad rolling stock, such as locomotives,
22 cabooses and vehicles for the transportation of freight,
23 established or to be established by an industrial development
24 agency in a critical economic area.
25 * * *
26 Section 3. Clauses (a) and (k) of section 7 of the act,
27 amended July 10, 1963 (P.L.221, No.125), are amended to read:
28 Section 7. Loan Application Requirements.--Prior to the
29 loaning of any funds to an industrial development agency for an
30 industrial development project in a critical economic area, the
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1 Authority shall receive from such industrial development agency
2 a loan application in form adopted by the Authority which shall
3 contain, without being limited to, the following provisions:
4 (a) A general description of the industrial development
5 project and a general description of the industrial or
6 manufacturing enterprise, [or] research and development facility
7 or the expansion of a railroad transportation facility for which
8 the industrial development project has been or is to be
9 established.
10 * * *
11 (k) Evidence that the establishment of the industrial
12 development project will not cause the removal of an industrial
13 or manufacturing plant or facility, [or] research and
14 development facility or railroad transportation facility from
15 one area of the Commonwealth to another area of the
16 Commonwealth.
17 * * *
18 Section 4. This act shall take effect immediately.
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