PRINTER'S NO. 1411
No. 1192 Session of 1993
INTRODUCED BY STOUT, LAVALLE, STEWART, AFFLERBACH, BODACK, PECORA, REIBMAN, CORMAN, MADIGAN, TILGHMAN, PETERSON, BELAN, LINCOLN, MELLOW, DAWIDA AND FISHER, JUNE 2, 1993
REFERRED TO APPROPRIATIONS, JUNE 2, 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, 19930S1192B1411 - 2 -
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 19930S1192B1411 - 3 -
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 19930S1192B1411 - 4 -
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. E21L84PJP/19930S1192B1411 - 5 -