PRINTER'S NO. 1960
No. 1692 Session of 1993
INTRODUCED BY LESCOVITZ, RUDY, ROBINSON, COLAFELLA, ITKIN,
SEMMEL, BUSH AND JADLOWIEC, MAY 26, 1993
REFERRED TO COMMITTEE ON APPROPRIATIONS, MAY 26, 1993
AN ACT
1 Appropriating money from the Sunny Day Fund to the Department of
2 Commerce for various projects throughout this Commonwealth
3 for fiscal year 1993-1994.
4 The General Assembly of the Commonwealth of Pennsylvania
5 hereby enacts as follows:
6 Section 1. The sums set forth in this act, or as much
7 thereof as may be necessary, are hereby specifically
8 appropriated from the Sunny Day Fund to the Department of
9 Commerce for the fiscal year July 1, 1993, to June 30, 1994, for
10 the projects listed in this act to enhance economic development
11 and the creation of jobs in this Commonwealth in accordance with
12 the provisions of Chapter 1 of the act of July 1, 1985 (P.L.120,
13 No.32), known as the Sunny Day Fund Act.
14 Section 2. The following amounts are appropriated to the
15 Department of Commerce to induce companies to locate large
16 industrial, manufacturing or research and development
17 enterprises within this Commonwealth:
18 (1) For the purpose of making a loan to
1 CONFAB/ICD Industries for the purchase of
2 machinery and equipment to start up a new diaper
3 line and consolidate existing operations to its
4 new facility in King of Prussia, Upper Merion
5 Township, Montgomery County. CONFAB/ICD Industries
6 will invest at least $30,000,000 into the project,
7 which project will create 455 new jobs within
8 three years of operation.
9 State appropriation.................... $6,825,000
10 (2) For the purpose of making a loan to Union
11 Switch and Signal for the construction of a new
12 engineering and research and development facility
13 at the Pittsburgh Technology Center site in the
14 City of Pittsburgh, Allegheny County. Union Switch
15 and Signal will invest at least $15,000,000 into
16 the project, which project will create at least
17 250 new jobs within three years of operation.
18 State appropriation.................... 4,500,000
19 (3) For the purpose of making a loan to AEG
20 Transportation Systems for the consolidation of
21 its operations at Southpointe Business Park, Cecil
22 Township, Washington County. AEG Transportation
23 Systems will invest at least $30,000,000 into the
24 project, which project will create 350 new jobs
25 within three years of operation.
26 State appropriation.................... 7,000,000
27 (4) For the purpose of making a loan to
28 Agramer Ceramics, Inc. for the location of a new
29 ceramic tile manufacturing facility in Hopewell
30 Business and Industrial Park, Hopewell Township,
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1 Beaver County. Agramer Ceramics, Inc. will invest
2 at least $5,700,000 into the project, which
3 project will create 160 new jobs within three
4 years of operation.
5 State appropriation.................... 2,400,000
6 (5) For the purpose of making a loan to Carol
7 Cable for the expansion and renovation of its
8 Montoursville, Lycoming County, facility to
9 accommodate new product lines. Carol Cable will
10 invest at least $4,000,000 into the project, which
11 project will create 200 new jobs within three
12 years of operation.
13 State appropriation.................... 3,000,000
14 (6) For the purpose of making a loan to MACK
15 Trucks for the purchase, upgrading and
16 installation of machinery and equipment to be used
17 at the assembly plant located in Lower Macungie
18 Township, Lehigh County and at the engineering and
19 research and development operations located in the
20 City of Allentown, Lehigh County. MACK Trucks will
21 invest at least $30,000,000 into the project,
22 which project will create 140 new jobs within
23 three years of operation.
24 State appropriation.................... 2,700,000
25 (7) For the purpose of making a loan to
26 Saratan, Inc. for the purchase of machinery and
27 equipment to be used at its medium-density
28 fiberboard facility and chip mill to be
29 constructed in Allegheny Industrial Park located
30 in Mt. Jewett, McKean County. Saratan, Inc. will
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1 invest at least $38,000,000 into the project,
2 which project will create 139 new jobs within
3 three years of operation.
4 State appropriation.................... 2,000,000
5 (8) For the purpose of making a loan to
6 BioScience Contract Production Corporation for the
7 purchase of machinery and equipment to be used at
8 its new facility to be located in the Penn State
9 Research Park, College Township, Centre County.
10 BioScience Contract Production Corporation will
11 invest at least $6,000,000 into the project, which
12 project will create 100 new jobs within three
13 years of operation.
14 State appropriation.................... 1,500,000
15 Section 3. It is the intent of the General Assembly that the
16 appropriations in section 2 shall be loaned at an annual
17 interest rate that in no case shall be less than the
18 Pennsylvania Industrial Development Authority's rate for the
19 area in which the project is located. Private companies which
20 receive Sunny Day Fund assistance but fail to make the
21 investment in the enterprise development as specified in section
22 2 shall be liable for the repayment of all Sunny Day Fund
23 moneys, including any accrued interest thereon and any penalties
24 set by the Secretary of Commerce. Private companies which
25 receive Sunny Day Fund assistance but fail to create the number
26 of jobs specified in the approved loan or other agreements with
27 the Commonwealth shall be liable for a penalty equal to an
28 increase in the interest charged to 2% greater than the current
29 prime interest rate for the remainder of the loan, unless the
30 penalty is waived by the Secretary of Commerce because the
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1 failure is due to circumstances outside the control of the
2 private company. The Secretary of Commerce shall consult with
3 the chairmen of the Appropriations Committee of the Senate and
4 the Appropriations Committee of the House of Representatives
5 prior to the establishment of waiver of penalties.
6 Section 4. For a period equal to the term of assistance
7 provided each project under this act, the Department of Commerce
8 shall provide a written report on the status of each project to
9 the Secretary of the Senate and the Chief Clerk of the House of
10 Representatives by June 30 of each year. This report shall
11 contain, at a minimum, information pertaining to the specific
12 use of the Sunny Day Fund money, the interest rate and term of
13 the Sunny Day Fund loan, the amount of principal outstanding and
14 interest due on the loan and the number of jobs created by the
15 project. All recipients of funds under this act shall be
16 required to provide any and all information required by the
17 Department of Commerce for the purpose of this act.
18 Section 5. No funds under this act shall be awarded by the
19 Department of Commerce after June 30, 1995. Any funds from this
20 appropriation remaining unexpended or unencumbered on June 30,
21 1995, shall automatically lapse into the Sunny Day Fund.
22 Section 6. This act shall take effect immediately.
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