S0166B0985A04179 NAD:EJH 12/06/19 #90 A04179
AMENDMENTS TO SENATE BILL NO. 166
Sponsor: REPRESENTATIVE TURZAI
Printer's No. 985
Amend Bill, page 1, line 1, by inserting after "2019-2020"
and for limitation on redevelopment assistance capital
projects; and making a related repeal
Amend Bill, page 3, by inserting between lines 2 and 3
Section 2.1. Limitation on redevelopment assistance capital
projects.
The following limitations shall apply to redevelopment
assistance capital projects:
(1) Subject to adjustment under paragraph (2) or (3),
the maximum amount of redevelopment assistance capital
projects undertaken by the Commonwealth for which obligations
are outstanding shall not exceed, in aggregate,
$3,350,000,000.
(2) Beginning July 1, 2018, and each July 1 thereafter
until the sum of the outstanding obligations for
redevelopment assistance capital projects equals
$3,150,000,000 or July 1, 2021, whichever occurs first, the
sum of the maximum amount of outstanding obligations for
redevelopment assistance projects shall be decreased by
$50,000,000.
(3) Beginning July 1, 2022, and each July 1 thereafter
until the sum of the outstanding obligations for
redevelopment assistance capital projects equals
$2,975,000,000, the sum of the maximum amount of outstanding
obligations for redevelopment assistance projects shall be
decreased by $50,000,000.
Section 2.2. Repeals are as follows:
(1) The General Assembly declares that the repeal under
paragraph (2) is necessary to effectuate the addition of
section 2.1.
(2) Section 317(b) of the act of February 9, 1999
(P.L.1, No.1), known as the Capital Facilities Debt Enabling
Act, is repealed.
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