PRINTER'S NO. 2538

THE GENERAL ASSEMBLY OF PENNSYLVANIA

HOUSE BILL

No. 1949 Session of 2001

        INTRODUCED BY CAPPELLI, KENNEY, PETRONE, ARGALL, PHILLIPS,
           BROWNE, L. I. COHEN, HESS, LEDERER, DIVEN, MANN, M. WRIGHT,
           J. WILLIAMS, BASTIAN, BUNT, CIVERA, DAILEY, DALLY, FICHTER,
           GODSHALL, HARHART, McILHINNEY, RUBLEY, TRELLO, FREEMAN,
           WATSON, M. COHEN, MICOZZIE, McILHATTAN, FEESE, JAMES AND
           BEBKO-JONES, SEPTEMBER 26, 2001

        REFERRED TO COMMITTEE ON URBAN AFFAIRS, SEPTEMBER 26, 2001

                                     AN ACT

     1  Amending the act of July 11, 1990 (P.L.465, No.113), entitled
     2     "An act providing for the creation of tax increment
     3     districts; providing for additional powers and duties to be
     4     exercised by redevelopment authorities and by industrial and
     5     commercial development authorities; authorizing the creation
     6     and approval of project plans for tax increment financing;
     7     providing for the establishment of a tax increment base;
     8     allocating the payment of positive tax increments; providing
     9     for the financing of project costs; and providing for the
    10     issuance of tax increment bonds and notes," further providing
    11     for tax increment districts.

    12     The General Assembly of the Commonwealth of Pennsylvania
    13  hereby enacts as follows:
    14     Section 1.  Section 5 of the act of July 11, 1990 (P.L.465,
    15  No.113), known as the Tax Increment Financing Act, amended
    16  December 16, 1992 (P.L.1240, No.164), is amended by adding a
    17  paragraph to read:
    18  Section 5.  Creation of tax increment districts and approval of
    19                 project plans.
    20     (a)  General rule.--A tax increment district shall be created

     1  in the following manner:
     2         * * *
     3         (7.1)  Where a majority of the governing bodies that levy
     4     property taxes within the boundaries of a proposed tax
     5     increment district have agreed to participate in the tax
     6     increment district by adopting an ordinance or resolution,
     7     the remaining governing bodies that levy property taxes
     8     within the boundaries shall adopt an ordinance or resolution
     9     agreeing to participate in the tax increment district.
    10         * * *
    11     Section 2.  This act shall take effect in 60 days.













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