PRINTER'S NO. 1923
No. 1412 Session of 1986
INTRODUCED BY SHAFFER, SINGEL, BRIGHTBILL, SALVATORE,
ANDREZESKI, CORMAN, HELFRICK AND PETERSON, MARCH 12, 1986
REFERRED TO COMMUNITY AND ECONOMIC DEVELOPMENT, MARCH 12, 1986
AN ACT
1 Amending the act of December 20, 1985 (P.L.483, No.113),
2 entitled "An act providing for tax-exempt bonds; and imposing
3 powers and duties on the Secretary of Commerce," further
4 providing for selection of projects using county allocations.
5 The General Assembly of the Commonwealth of Pennsylvania
6 hereby enacts as follows:
7 Section 1. Section 4(a)(1)(i) of the act of December 20,
8 1985 (P.L.483, No.113), known as the Tax-Exempt Bond Allocation
9 Act, is amended to read:
10 Section 4. Selection of projects.
11 (a) Projects using county allocations.--
12 (1) Except under paragraph (2), the secretary shall not
13 approve bond projects under the act of August 23, 1967
14 (P.L.251, No.102), known as the Industrial and Commercial
15 Development Authority Law, for:
16 (i) Projects related to the retail sale of consumer
17 goods, except that no more than $1,000,000 or 5% of the
18 allocation of each county, whichever is greater, as
19 provided by section 5(a)(1), may be utilized for such
1 projects, and the amount financed in any such project may
2 not exceed $1,000,000.
3 * * *
4 Section 2. This act shall take effect immediately.
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