THE GENERAL ASSEMBLY OF PENNSYLVANIA

HOUSE BILL

INTRODUCED BY KNOWLES, GEIST, HEFFLEY, EVANKOVICH, BEAR, BENNINGHOFF, BLOOM, CHRISTIANA, CREIGHTON, DAY, EMRICK, EVERETT, FLECK, GABLER, GILLEN, GINGRICH, GROVE, HELM, M. K. KELLER, KILLION, MAJOR, MALONEY, METCALFE, MILLER, MOUL, MURT, OBERLANDER, PERRY, QUIGLEY, REICHLEY, ROCK, SAYLOR, TALLMAN, TOBASH, TOEPEL, TRUITT AND VEREB, OCTOBER 12, 2011

REFERRED TO COMMITTEE ON TRANSPORTATION, OCTOBER 12, 2011  

AN ACT

Establishing the Infrastructure Future Fund and the

Infrastructure Future Restricted Receipts Account; and

providing for funding for transportation infrastructure

projects.

The General Assembly of the Commonwealth of Pennsylvania

hereby enacts as follows:

Section 1.  Short title.

This act shall be known and may be cited as the

Infrastructure Future Fund Act.

Section 2.  Definitions.

The following words and phrases when used in this act shall

have the meanings given to them in this section unless the

context clearly indicates otherwise:

"Account."  The Infrastructure Future Restricted Receipts

Account established by this act.

"Board."  The Pennsylvania Liquor Control Board.

"Construction costs."  Any of the following expenses incurred

for a project:

(1)  Expenses for the acquisition, construction,

reconstruction, expansion, extension, demolition, improvement

or rehabilitation of a project.

(2)  Expenses for the remediation of existing

environmental hazards on land where the project is or will be

located.

(3)  Costs and expenses of professional services,

including the costs of engineering and legal services,

rendered in completing the project.

(4)  Costs and expenses associated with the preparation

of plans, specifications, studies and surveys necessary or

incidental to constructing the project.

"Constructs."  The acquisition, construction, reconstruction,

expansion, extension, demolition, improvement or rehabilitation

of a project.

"Fund."  The Infrastructure Future Fund established by this

act.

"Liquor."  As that term in defined in the act of April 12,

1951 (P.L.90, No.21), known as the Liquor Code.

"Liquor Code."  The act of April 12, 1951 (P.L.90, No.21),

known as the Liquor Code.

"Pennsylvania liquor stores."  The stores established,

operated and maintained by the Pennsylvania Liquor Control Board

under Article III of the act of April 12, 1951 (P.L.90, No.21),

known as the Liquor Code.

"Transportation infrastructure project."  A project which

constructs any of the following:

(1)  A bridge, tunnel or culvert owned or to be owned by

the Commonwealth.

(2)  A portion of a limited access highway as that term

is defined in section 1 of the act of May 29, 1945 (P.L.1108,

No.402), referred to as the Limited Access Highway Law.

(3)  A portion of a highway as that term is used in the

act of June 1, 1945 (P.L.1242, No.428), known as the State

Highway Law.

"Wine."  As that term is defined in section 102 of the act of

April 12, 1951 (P.L.90, No.21), known as the Liquor Code.

Section 3.  Infrastructure Future Fund.

(a)  Establishment.--The Infrastructure Future Fund is

established in the State Treasury.

(b)  Deposits.--The following sums shall be deposited into

the fund:

(1)  The net proceeds from the privatization of the

retail wine and liquor operations of the Pennsylvania liquor

stores.

(2)  The net proceeds from the privatization of the

wholesale wine and liquor operations of the Pennsylvania

liquor stores.

(3)  The net proceeds from the sale of any wine or liquor

inventory owned or maintained by the board or by the

Pennsylvania liquor stores.

(c)  Investment.--

(1)  The State Treasurer shall have exclusive control and

authority to manage, invest and reinvest money in the fund,

subject, however, to the exercise of that degree of judgment,

skill and care under the circumstances then prevailing that

persons of prudence, discretion and intelligence, who are

familiar with investment matters, exercise in the management

of their own affairs, not in regard to speculation but in

regard to permanent disposition of the funds, considering the

probable income to be derived from the investments and the

probable safety of their capital.

(2)  The State Treasurer may hold, purchase, sell, lend,

assign, transfer or dispose of any securities and

investments, including equity securities, in which money in

the fund has been invested and of the proceeds of the

investments, including any directed commissions that have

accrued to the benefit of the fund as a consequence of the

investments, and of money belonging to the fund subject to

the standard of prudence in this section.

Section 4.  Infrastructure Future Restricted Receipts Account.

(a)  Establishment.--The Infrastructure Future Restricted

Receipts Account is established as a restricted receipts account

in the fund.

(b)  Deposits.--Earning derived from the investment of the

money in the fund, after deduction of investment expenses, shall

be deposited into the account.

(c)  Use.--Moneys in the account shall be used to pay for

construction costs of transportation infrastructure projects

authorized under section 5.

Section 5.  Funding for transportation infrastructure projects.

(a)  General rule.--Annually, and as part of the proposed

operating budget for the ensuing fiscal year, the Governor shall

submit an itemization of transportation infrastructure projects

to be funded by this act. The itemization shall specifically

itemize each transportation infrastructure project by a brief

identifying description and estimate financial cost.

(b)  Limitation.--In no year may the aggregate construction

costs of transportation infrastructure projects authorized by

the General Assembly exceed the sum of:

(1)  twenty percent of the balance of the fund in the

first year; and

(2)  the balance of the account on the date the

itemization is submitted for the ensuing year.

Section 6.  Effective date.

This act shall take effect in 60 days.