PRINTER'S NO. 3609
No. 2674 Session of 1982
INTRODUCED BY LESCOVITZ, COLAFELLA AND KOLTER, SEPTEMBER 21,
1982
REFERRED TO COMMITTEE ON APPROPRIATIONS, SEPTEMBER 21, 1982
AN ACT
1 Providing for financial assistance to municipalities which
2 suffer sudden and severe economic loss, providing further
3 duties of the Department of Community Affairs and making an
4 appropriation.
5 The General Assembly of the Commonwealth of Pennsylvania
6 hereby enacts as follows:
7 Section 1. Short title.
8 This act shall be known and may be cited as the "Municipal
9 Finance Assistance Law."
10 Section 2. Definitions.
11 The following words and phrases when used in this act shall
12 have, unless the context clearly indicates otherwise, the
13 meanings given to them in this section:
14 "Department." The Department of Community Affairs.
15 Section 3. Financial assistance.
16 (a) Entitlement.--Any municipality which suffers a sudden
17 and severe economic loss due to, but not limited to, an
18 industrial plant closing or a mass layoff, shall be entitled to
1 financial assistance under this act.
2 (b) Administration of act.--This act shall be administered
3 by the department.
4 Section 4. Assistance schedule.
5 A municipality which suffers a loss of the revenue it had a
6 reasonable expectation of receiving pursuant to an adopted
7 budget, had not the sudden and severe economic loss occurred,
8 shall be entitled to receive from the department, for the first,
9 second and third year following the sudden and severe economic
10 loss, the following percentage of revenue shortfall, provided
11 the shortfall is equal to or greater than 50% of expected
12 revenue during each year:
13 Year Percentage of shortfall
14 First year 100%
15 Second year 50%
16 Third year 25%
17 Section 5. Appropriation.
18 The sum of $1,000,000, or as much thereof as may be
19 necessary, is hereby appropriated to the department to carry out
20 this act for the 1982-1983 fiscal year.
21 Section 6. Effective date.
22 This act shall take effect immediately.
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