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                                                      PRINTER'S NO. 3465

THE GENERAL ASSEMBLY OF PENNSYLVANIA


HOUSE BILL

No. 2300 Session of 2004


        INTRODUCED BY GILLESPIE, TURZAI, THOMAS, ARGALL, BOYD, CAPPELLI,
           CLYMER, CORRIGAN, CRAHALLA, CREIGHTON, DeLUCA, DENLINGER,
           GOODMAN, HARPER, HERSHEY, JOSEPHS, LEVDANSKY, R. MILLER,
           S. MILLER, MUSTIO, NICKOL, REICHLEY, ROSS, RUBLEY, SCAVELLO,
           SCHRODER, B. SMITH, WEBER AND YOUNGBLOOD, MARCH 17, 2004

        REFERRED TO COMMITTEE ON COMMERCE, MARCH 17, 2004

                                     AN ACT

     1  Amending the act of July 11, 1990 (P.L.465, No.113), entitled
     2     "An act providing for the creation of tax increment
     3     districts; providing for additional powers and duties to be
     4     exercised by redevelopment authorities and by industrial and
     5     commercial development authorities; authorizing the creation
     6     and approval of project plans for tax increment financing;
     7     providing for the establishment of a tax increment base;
     8     allocating the payment of positive tax increments; providing
     9     for the financing of project costs; and providing for the
    10     issuance of tax increment bonds and notes," further providing
    11     for reporting requirements; and making an editorial change.

    12     The General Assembly of the Commonwealth of Pennsylvania
    13  hereby enacts as follows:
    14     Section 1.  Section 9.1 of the act of July 11, 1990 (P.L.465,
    15  No.113), known as the Tax Increment Financing Act, added
    16  December 16, 1992 (P.L.1240, No.164), is amended to read:
    17  Section 9.1.  Rules and regulations.
    18     The Secretary of [Commerce] Community and Economic
    19  Development may, in the manner provided by law, promulgate the
    20  rules and regulations necessary to carry out this act.
    21  Regulations so promulgated shall not apply to districts created

     1  prior to the effective date of such regulations.
     2     Section 2.  Section 10 of the act is amended to read:
     3  Section 10.  [Comprehensive report] Reporting requirements.
     4     (a)  Comprehensive report.--The Department of [Commerce]
     5  Community and Economic Development, in cooperation with other
     6  State agencies and local governments, shall make a comprehensive
     7  report to the Governor and the General Assembly every two years
     8  commencing January 1, 1992, as to the social, economic, and
     9  financial effects and impact of tax increment financing
    10  projects.
    11     (b)  Municipality reports.--The governing body of a
    12  municipality that creates a tax increment district and adopts a
    13  resolution or ordinance in accordance with section 5(a)(6),
    14  shall report to the Department of Community and Economic
    15  Development within 30 days of the adoption thereof, such
    16  information as required by regulation of the department. A copy
    17  of the resolution or ordinance shall be attached to the report.
    18     Section 3.  This act shall take effect in 60 days.








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