PRINTER'S NO. 2129
No. 1714 Session of 2001
INTRODUCED BY ALLEN, PERZEL, DeWEESE, PHILLIPS, ARGALL, RAYMOND,
S. H. SMITH, CORNELL, LUCYK, FAIRCHILD, HASAY, THOMAS,
M. BAKER, BASTIAN, BELFANTI, BOYES, BROWNE, BUNT,
CALTAGIRONE, CAPPELLI, COSTA, DALEY, DALLY, EACHUS, J. EVANS,
FEESE, FLEAGLE, FORCIER, GEIST, HARHAI, HARHART, HERMAN,
HERSHEY, HESS, LAUGHLIN, LEWIS, MAJOR, McCALL, MELIO,
S. MILLER, ROBERTS, SAINATO, SATHER, SAYLOR, SCHRODER,
SEMMEL, SHANER, B. SMITH, STABACK, STERN, R. STEVENSON,
TRICH, WANSACZ, WATSON, WILT, YOUNGBLOOD, ZUG, PRESTON,
CREIGHTON, FREEMAN, HENNESSEY, PETRONE, PALLONE, TIGUE,
GRUCELA, L. I. COHEN AND HORSEY, JUNE 11, 2001
REFERRED TO COMMITTEE ON ENVIRONMENTAL RESOURCES AND ENERGY,
JUNE 11, 2001
AN ACT
1 Amending the act of March 1, 1988 (P.L.82, No.16), entitled "An
2 act providing for the establishment, implementation and
3 administration of the Pennsylvania Infrastructure Investment
4 Authority; imposing powers and duties on a board of trustees;
5 transferring the rights, powers, duties and obligations of
6 the Water Facilities Loan Board to the Pennsylvania
7 Infrastructure Investment Authority; providing for the
8 issuance of notes and bonds; providing for financial
9 assistance and for a comprehensive water facilities plan;
10 authorizing a referendum to incur indebtedness; making an
11 appropriation; and making repeals," providing for financial
12 assistance.
13 The General Assembly of the Commonwealth of Pennsylvania
14 hereby enacts as follows:
15 Section 1. Section 3 of the act of March 1, 1988 (P.L.82,
16 No.16), known as the Pennsylvania Infrastructure Investment
17 Authority Act, is amended by adding a definition to read:
18 Section 3. Definitions.
1 The following words and phrases when used in this act shall
2 have the meanings given to them in this section unless the
3 context clearly indicates otherwise:
4 * * *
5 "Industrial development corporation." An organization
6 certified under the act of May 17, 1956 (1955 P.L.1609, No.537),
7 known as the Pennsylvania Industrial Development Authority Act,
8 which is in good standing with the Department of Community and
9 Economic Development.
10 "Keystone opportunity zone." A zone of deteriorated
11 property, not to exceed a total of 5,000 acres, designated by
12 the Department of Community and Economic Development under the
13 act of October 6, 1998 (P.L.705, No.92), known as the Keystone
14 Opportunity Zone and Keystone Opportunity Expansion Zone Act.
15 * * *
16 Section 2. Section 10 of the act is amended by adding a
17 subsection to read:
18 Section 10. Financial assistance.
19 * * *
20 (f.1) Special conditions for keystone opportunity zones.--
21 (1) The board shall establish a program of assistance to
22 water supply and sewage disposal systems serving communities
23 in which keystone opportunity zones are located. The board
24 shall establish a Keystone Opportunity Zone Project Loan Fund
25 for assistance to projects located within keystone
26 opportunity zone communities. Loans from the fund are not to
27 exceed $1,500,000 or 100% of eligible project costs for each
28 loan, whichever is less. The loan shall be 20 years at no
29 interest if the applicant within the keystone opportunity
30 zone is an industrial development corporation, a municipality
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1 or a municipal authority. If the borrower is a private
2 company or person, the interest rate on a loan shall be as
3 determined under subsection (f), but shall be for no longer
4 than 20 years. Loans under this subsection shall be used for
5 the following purposes:
6 (i) Drinking water facilities, including
7 construction, rehabilitation, alteration, expansion or
8 improvement of water facilities.
9 (ii) Pumping stations, distribution and treatment
10 facilities and reservoir rehabilitation projects.
11 (iii) Sanitary sewage facilities, including all
12 facilities related to collection lines at sewage
13 treatment facilities and storm sewers.
14 (iv) Access roads to serve a public water or
15 sanitary sewer facility.
16 (2) The board shall also administer a Keystone
17 Opportunity Zone Facilities Grant Program. The program shall
18 provide supplemental financial assistance in the form of
19 grants for needed public facilities in keystone opportunity
20 zones for the same purposes as outlined previously in this
21 subsection.
22 (3) A grant shall not exceed $250,000. Grants shall be
23 made in conformance with subsection (e) and any guidelines
24 promulgated by the authority.
25 * * *
26 Section 3. This act shall take effect in 60 days.
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