PRIOR PRINTER'S NO. 376 PRINTER'S NO. 983
No. 332 Session of 1983
INTRODUCED BY LLOYD, DeWEESE, AFFLERBACH, WACHOB, BELFANTI,
RUDY, MORRIS, HALUSKA, KUKOVICH, KOSINSKI, ZWIKL,
D. R. WRIGHT, SWEET, CAWLEY, DALEY, WARGO, KASUNIC AND
WOZNIAK, MARCH 14, 1983
AS REPORTED FROM COMMITTEE ON BUSINESS AND COMMERCE, HOUSE OF
REPRESENTATIVES, AS AMENDED, APRIL 26, 1983
AN ACT
1 Amending the act of May 17, 1956 (1955 P.L.1609, No.537),
2 entitled "An act to promote the welfare of the people of the
3 Commonwealth by the reduction of unemployment in certain
4 areas of the Commonwealth determined to be critical economic
5 areas; providing for the establishment of industrial
6 development projects in such areas; creating The Pennsylvania
7 Industrial Development Authority as a body corporate and
8 politic with power to allocate funds for and make secured
9 loans to industrial development agencies for the payment of a
10 part of the cost of industrial development projects in
11 critical economic areas; authorizing the Authority to enter
12 into agreements with the Government of the United States or
13 any Federal agency or industrial development agency;
14 empowering the Authority to take title to, sell, convey and
15 lease industrial development projects where necessary to
16 protect loans made by the Pennsylvania Industrial Development
17 Authority on industrial development projects; providing that
18 no debt of the Commonwealth, its municipalities or political
19 subdivisions shall be incurred in the exercise of any powers
20 granted by this act; and providing for the examination of the
21 accounts and affairs of the Authority; and making an
22 appropriation," providing preferential Pennsylvania
23 Industrial Development Authority loans for coal projects.
24 The General Assembly of the Commonwealth of Pennsylvania
25 hereby enacts as follows:
26 Section 1. The act of May 17, 1956 (1955 P.L.1609, No.537),
27 known as the Pennsylvania Industrial Development Authority Act,
1 is amended by adding a section to read:
2 Section 6.1. Powers of the Authority; Encouragement of Coal
3 Use.--An application which meets all the other requirements of
4 this act shall be given a preference over other applications if
5 it is for an industrial development project involving:
6 (a) The construction of a facility if the facility would
7 burn coal; a synthetic fuel derived in whole or in part from
8 coal; or a mixture which includes coal or is derived in whole or
9 in part from coal, either to heat the facility or as part of the
10 industrial process carried out in the facility;
11 (b) The expansion of a facility if the expanded portion of
12 the facility would burn coal; a synthetic fuel derived in whole
13 or in part from coal; or a mixture which includes coal or is
14 derived in whole or in part from coal, either to heat the
15 expanded portion of the facility or as part of the industrial
16 process carried out in the expanded portion of the facility; or
17 (c) The renovation of a facility if, because of the
18 renovation, the facility would burn coal; a synthetic fuel
19 derived in whole or in part from coal, or a mixture which
20 includes coal or is derived in whole or in part from coal,
21 either to heat the renovated facility or as part of the
22 industrial process carried out in the renovated facility.
23 Whenever the board of the Authority grants a loan for such an
24 industrial development project, the interest rate on such loan
25 shall be at a rate which shall be (1%) per annum less than the
26 rate of interest the board would otherwise have established for
27 such loan.
28 FOR THE PURPOSE OF THIS SECTION "COAL" MEANS COAL PRODUCED <--
29 FROM PENNSYLVANIA MINES.
30 Section 2. This act shall take effect in 60 days.
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