PRINTER'S NO. 69
No. 65 Session of 1985
INTRODUCED BY LLOYD, KUKOVICH, SWEET, HERMAN, PISTELLA, BROUJOS,
DALEY, KOSINSKI, VAN HORNE, D. R. WRIGHT, GEIST, CAWLEY,
FISCHER, HALUSKA, REINARD, DeWEESE, WOZNIAK, PERZEL, BALDWIN,
STABACK, PRESTON, LUCYK, BATTISTO, RYBAK, BELARDI AND MORRIS,
JANUARY 23, 1985
REFERRED TO COMMITTEE ON MINES AND ENERGY MANAGEMENT,
JANUARY 23, 1985
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 the use of coal
24 produced in Pennsylvania.
25 The General Assembly of the Commonwealth of Pennsylvania
26 hereby enacts as follows:
27 Section 1. The act of May 17, 1956 (1955 P.L.1609, No.537),
1 known as the Pennsylvania Industrial Development Authority Act,
2 is amended by adding a section to read:
3 Section 6.1. Powers of the Authority; Encouragement of Use
4 of Pennsylvania Produced Coal.--(a) Whenever the board of the
5 Authority grants a loan for an industrial development project
6 involving:
7 (1) the construction of a facility which would burn coal
8 either to heat the facility or as part of the industrial process
9 carried out in the facility;
10 (2) the expansion of a facility which would burn coal either
11 to heat the expanded portion of the facility or as part of the
12 industrial process carried out in the expanded portion of the
13 facility; or
14 (3) the renovation of a facility which, because of the
15 renovation, would burn coal either to heat the renovated
16 facility or as part of the industrial process carried out in the
17 renovated facility, the interest rate on such loan shall not
18 exceed the lowest interest rate established by the board for any
19 other loans, applicants or industrial development projects.
20 (b) For the purpose of this section "coal" means coal
21 produced from mines in Pennsylvania or any mixture or synthetic
22 derived in whole or in part from coal produced from mines in
23 Pennsylvania.
24 Section 2. This act shall take effect in 60 days.
L19L64JRW/19850H0065B0069 - 2 -