AN ACT

 

1Amending the act of December 8, 2004 (P.L.1801, No.238),
2entitled "An act empowering municipalities, counties and
3public transportation agencies to work cooperatively to
4establish Transit Revitalization Investment Districts (TRID),
5including partnerships with the National Railroad Passenger
6Corporation requiring planning studies, comprehensive plan
7and zoning amendments and use of existing statutes and
8techniques to achieve transit-oriented development,
9redevelopment, community revitalization and enhanced
10community character through TRID creation; establishing value
11capture areas as a means to reserve and use future,
12designated incremental tax revenues for public transportation
13capital improvements, related site development improvements
14and maintenance; promoting the involvement of and
15partnerships with the private sector in TRID development and
16implementation; encouraging public involvement during TRID
17planning and implementation; and providing for duties of the
18Department of Community and Economic Development," in general
19provisions, further providing for definitions; in TRID
20creation and location, further providing for criteria for
21proposed TRID, for TRID designation, for implementing
22authority, for TRID planning study factors, for roles and
23responsibilities of public transportation agencies and
24municipalities and for amendments to TRID planning study; in
25land development powers of public transportation agencies,
26further providing for development or redevelopment of
27property; in value capture approaches, further providing for
28creation of value capture area and for dedication of tax
29revenues; providing for capture of TRID tax revenue; and, in
30community involvement, further providing for public meeting
31to explain TRID and alternative implementation approaches.

32The General Assembly of the Commonwealth of Pennsylvania

1hereby enacts as follows:

2Section 1. Section 103 of the act of December 8, 2004
3(P.L.1801, No.238), known as the Transit Revitalization
4Investment District Act, is amended by adding a definition to
5read:

6Section 103. Definitions.

7The following words and phrases when used in this act shall
8have the meanings given to them in this section unless the
9context clearly indicates otherwise:

10* * *

11"Management entity." Any of the following:

12(1) A participating municipality or transit agency.

13(2) A redevelopment authority, municipal authority,
14neighborhood improvement district, business improvement
15district or a similar governmental or nonprofit organization
16authorized to act in a manner consistent with the TRID
17planning study and with a services area compatible with the
18TRID.

19* * *

20Section 2. Sections 301, 302, 303, 304, 305, 306, 502, 701
21and 702 of the act are amended to read:

22Section 301. Criteria for proposed TRID.

23Local municipalities, counties, transportation authorities
24and public transportation agencies proposing to define and
25develop a TRID shall use the following criteria and process:

26(1) Eligible TRID locations may include any geographic
27area of a municipality or municipalities, including vacant,
28underutilized or potentially redevelopable land, within an
29area generally formed by a minimum radius of one-eighth mile
30and not to exceed a radius of one-half mile from a railroad,

1transit, light rail, busway or similar transit stop or
2station, measured from the centerline of the track or roadway
3traversing the station or stop location. TRID designation may
4also include new station locations proposed in conjunction
5with a planned public transportation service, as defined on
6an adopted county, regional or public transportation agency
7plan.

8[(2) The specific boundaries of a TRID may be expanded
9or reduced based on local circumstances such as local
10economic development and planning goals, community character,
11property boundary and scale variations but only when:

12(i) authorized by the governing body or bodies of
13the affected jurisdiction or jurisdictions in cooperation
14with the pertinent public transportation agency; and

15(ii) the rationale for the boundaries is supported
16by the findings of the required TRID planning study.]

17(3) A local municipality or municipalities shall
18[further] define and support the rationale for the TRID
19designation through a TRID planning study as well as
20appropriate amendments to the municipal comprehensive plan,
21zoning ordinance and other pertinent regulations.

22(4) A local municipality may designate the county
23planning agency to undertake or assist the TRID planning
24study on its behalf.

25(5) An existing neighborhood improvement district, tax
26increment district or urban renewal area may be used as the
27basis for the boundaries of a TRID when justified by the TRID
28planning study required in section 304.

29Section 302. TRID designation.

30(a) Designation.--Local municipalities and counties working

1with public transportation agencies, transportation authorities,
2AMTRAK, passenger rail transportation providers or any
3combination thereof may designate TRIDs in advance of
4implementation of a new public transit service or in conjunction
5with an existing public transportation service and in advance of
6or in conjunction with actual development proposals. A TRID and 
7its boundaries shall be established by ordinance.

8(b) Agreement.--To create a TRID, in addition to the
9planning study described in section 301(3), the municipality or
10municipalities shall enter into an agreement with the transit
11agency that approves the TRID planning study under section 
12301(3) and defines the activities [and], commitments and 
13administrative and management roles of each party to the TRID,
14including any specific actions or financial participation to
15help implement the TRID. The agreement shall include the
16development agreement specified in section 504 as well as a
17description of the TRID management entity described in section
18[502(4)] 303.

19Section 303. [Implementing authority] Management entity.

20[A participating county, local municipality, transportation
21authority and public transportation agency may designate on
22their behalf the county redevelopment authority to assume
23responsibility for TRID implementation.] The participating local 
24municipality or county and the transit agency shall designate 
25the management entity in the TRID agreement to administer, 
26manage and facilitate the implementation of the TRID planning 
27study.

28Section 304. TRID planning study factors.

29The scope and scale of transit improvements and community
30facility improvements, as well as any needed support facilities,

1shall be assessed in the TRID planning study. The TRID planning
2study shall also serve as the basis for a comprehensive plan
3amendment to establish the TRID if the municipality has a
4currently adopted comprehensive plan. The following shall apply:

5(1) The planning study shall consider the need for
6capital improvements to transit-related facilities and
7adjacent public infrastructure, including roads, sidewalks
8and water, sewer and storm drainage service and public
9facilities, as well as opportunities for private sector real
10estate development and ways in which such facilities,
11services and development can be financed.

12(2) Municipalities and counties undertaking a TRID
13planning study shall receive priority consideration for
14planning [and implementation] grants and technical assistance
15from the department[, working in partnership with the
16pertinent county planning agency or agencies and other State
17agencies with grant or loan programs that may be applicable
18to TRID planning or implementations]. Any funding
19[appropriated to the Department of Community and Economic
20Development for the purpose of carrying out this act is
21intended to assist counties and local governments on a 25%
22matching basis to undertake TRID planning studies and related
23implementation activities. Individual grants for a TRID
24planning study or implementation project shall not exceed
25$75,000. The department in consultation with the Department
26of Transportation shall administer the supplemental TRID
27program through the existing land use planning and technical
28assistance program, with application guidance as necessary.]
29utilized by the department to assist with TRID planning 
30studies, except where otherwise limited by law, shall be
 

1awarded on a 25% matching basis.

2(3) Commonwealth agencies are directed to provide State
3resources, programs and new capital investments that will
4assist local governments, transportation authorities and
5transit agencies to implement TRIDS.

6Section 305. Roles and responsibilities of public
7transportation agencies and municipalities.

8As guidelines to implement the findings and recommendation of
9the TRID planning study, the following roles and
10responsibilities are defined:

11(1) The scope and scale of needed or proposed transit
12capital improvements within the TRID area are the
13responsibility of the partnering public transportation
14agency. The cost, financing, phasing and schedule of all
15transit-related improvements shall be included in the public
16transportation agency's adopted capital program.

17(2) The scope and scale of needed or proposed support
18facilities, highway accessways and community or neighborhood
19facility improvements, for example, sidewalks and recreation
20facilities, are the responsibility of the partnering county
21and local jurisdiction or jurisdictions and may include
22support from the private sector.

23[(3) Notwithstanding these stated roles and
24responsibilities, the parties to a TRID shall be responsible
25for defining the administrative and management roles and
26responsibilities that will be most appropriate to achieve
27implementation of the TRID in their community.]

28Section 306. Amendments [to TRID planning study].

29[Proposed real estate development or redevelopment may
30trigger additional needs for transit improvements and community

1facility improvements or support facilities and shall be
2accommodated through pertinent amendments of the TRID planning
3study and county, multimunicipal or local municipal
4comprehensive plan.] If warranted by a changing economic or 
5community condition, planning goal, real estate development, 
6redevelopment opportunity or a demonstrated need for transit or 
7community facility improvement, a TRID or TRID planning study 
8may be amended. The following shall apply:<-

9(1) The boundaries of a TRID may be expanded or reduced
10by an amendment to the ordinance establishing the TRID and
11shall be accompanied by justification for the boundary change
12supported by findings in the original or amended TRID
13planning study.

14(2) A TRID planning study may be amended by approval of
15the municipality or, municipalities <-or counties and the
16transit agency that are parties to the TRID designation
17pursuant to section 302.

18Section 502. Development or redevelopment of property.

19Development or redevelopment of property within a TRID shall
20generally occur in the following manner:

21(1) The public transportation agency may acquire the
22property, improve it for future development, such as site
23clearance, utility work, environmental remediation and
24similar improvements, and work cooperatively with the
25pertinent local jurisdiction or jurisdictions and
26implementing agencies to offer it for sale to the private
27sector for use or uses consistent with the adopted TRID plan.

28(2) Alternatively, the public transportation agency may
29advertise the presence of available development sites within
30a TRID, including a map of potentially developable or

1redevelopable properties, and invite interested developers to
2submit proposals in cooperation with the pertinent local
3jurisdiction or jurisdictions and implementing agencies.

4(3) In the case of either paragraph (1) or (2), the
5public transportation agency may not be the primary real
6estate developer, and joint development activities are
7confined to the construction of support and access
8facilities: that is, vehicular access, parking, pedestrian
9ways, building pads, foundation columns, signage and similar
10items.

11[(4) The partnering TRID local municipality or
12municipalities shall designate a management entity for the
13TRID which may be a municipal authority or joint municipal
14authority, in accordance with the requirements of 53 Pa.C.S.
15Ch. 56 (relating to municipal authorities) to manage and
16facilitate TRID implementation. The local municipality or
17municipalities involved in the TRID shall retain policy and
18oversight responsibilities for all budgetary and programmatic
19actions of the designated TRID management entity.]

20(5) Creative partnerships with AMTRAK, passenger rail
21transportation providers, transportation authorities and the
22private sector to accomplish TRID purposes that use the
23benefits of AMTRAK's and passenger rail service providers'
24existing real estate development powers are both desirable
25and encouraged.

26[(6) Neighborhood improvement districts, business
27improvement districts or similar entities may be designated
28to manage the TRID implementation activities.]

29Section 701. Creation of value capture area.

30In conjunction with the formal establishment of the TRID

1boundaries, a coterminous value capture area shall
2simultaneously be created to enable local municipalities, school
3districts, the county and the public transportation agency to
4share the increased tax increment of real estate and other
5designated tax revenues generated by new real estate investment
6within the TRID. The participants in the TRID, through the
7designated management entity, shall develop an administrative
8and project schedule and budget to implement the project,
9including future maintenance needs, as defined in the TRID
10planning study, as well as the shares and use of [such tax] the 
11incremental revenues as are projected to be generated from the
12TRID value capture area. The participating municipality or
13municipalities may review and revise the TRID budget.

14Section 702. Dedication of tax revenues.

15[Tax] A portion of incremental tax revenues generated within
16a TRID shall be dedicated to completion and future maintenance
17of the specific and necessary transit capital and public 
18infrastructure improvements designated in the comprehensive plan
19amendment and TRID planning study as follows:

20(1) Local [municipalities and counties shall not use
21such revenues for general government purposes, and a public
22transportation agency shall not use such revenues for transit
23capital investments elsewhere on the public transportation
24system.] taxing bodies shall approve that portion of revenues 
25which shall be dedicated to support TRID implementation and 
26that portion which shall be dedicated for general government 
27purposes.

28(1.1) A public transportation agency may not use the
29revenue for a transit capital investment outside of a
30designated TRID except if the investment is necessary and

1integral to achieve an approved TRID implementation
2objective.

3(2) Local municipalities, school districts and the
4county shall establish an amortization schedule for receipt,
5investment and expenditure of any TRID tax incremental
6revenues[, not to exceed 20 years,] similar to the
7amortization schedule in the act of July 11, 1990 (P.L.465,
8No.113), known as the Tax Increment Financing Act. [However,
9where a municipal or joint municipal authority has been
10created, it shall be responsible for fixing the amortization
11schedule and for defining the TRID capital improvement plan.]
12Incremental tax revenue generated by a TRID property may be 
13directed for use in TRID projects for up to 20 years from the 
14date a property is designated as a TRID.

15Section 3. The act is amended by adding a chapter to read:

16CHAPTER 8

17CAPTURE OF TRID TAX REVENUE

18Section 801. Definitions.

19The following words and phrases when used in this chapter
20shall have the meanings given to them in this section unless the
21context clearly indicates otherwise:

22"Baseline year." The calendar year the department approved
23the TRID as a recipient of tax revenue generated within the
24TRID.

25"Bond." The term includes a note, instrument, refunding note
26or other evidence of indebtedness or obligation.

27"Department." The Department of Revenue of the Commonwealth.

28"Eligible project." Development or improvement within a
29TRID, <-and located within 100 acres of the transit node,
30including construction, infrastructure and site preparation,

1reconstruction or renovation of a facility within a TRID which
2will result in economic development or transit-oriented
3development in accordance with the TRID and the TRID planning
4study.

5"Eligible tax." As follows:

6(1) Any of the following taxes <-if generated within an 
7area of not more than 100 acres, comprised of parcels 
8designated by the management entity:

9(i) Corporate net income tax, capital stock and
10franchise tax, or bank shares tax <-or business privilege
11tax, calculated and apportioned as to amount attributable
12to the location within the TRID and calculated under
13section 1904-B(b) and (c) of the act of March 4, 1971
14(P.L.6, No.2), known as the Tax Reform Code of 1971.

<-15(ii) Amusement tax, only to the extent the tax is
16related to the activity of a qualified business within
17the TRID.

18(iii) <-(ii) Sales and use tax, only to the extent the
19tax is related to the activity of a qualified business
20within the TRID.

<-21(iv) (iii) Personal income tax withheld from its
22employees by a qualified business for work performed in
23the TRID.

<-24(v) (iv) Tax paid to the Commonwealth on the sale of
25liquor, wine or malt or brewed beverages in the TRID.

26(2) The term does not include cigarette tax.

27"Qualified business." As follows:

28(1) An entity located or partially located in a TRID<-,
29and within 100 acres of the transit node, which meets the
30requirements of all of the following:

1(i) Has conducted an active trade or business in the
2TRID.

3(ii) Appears on the timely filed list under section
4805(a).

5(2) A construction contractor engaged in construction,
6including infrastructure or site preparation, reconstruction
7or renovation of a facility located in or partially in the
8TRID.

9(3) The term does not include an agent, broker or
10representative of a business.

11"TRID fund." A TRID fund established under section 806.

12Section 802. Approval.

13(a) Submission.--A management entity may apply to the
14Department of Community and Economic Development to establish a
15TRID fund for the purposes of funding an eligible project or for
16covering debt service payments related to debt incurred to fund
17an eligible project.

18(b) Agencies.--The Department of Community and Economic
19Development and the department must approve each application.

20(c) Approval schedule.--The Department of Community and
21Economic Development shall develop a schedule for the approval
22of applications provided that an application under this section
23shall be approved or disapproved within 90 days of the postmark
24date of the submission. An application which is not disapproved
25within the time period under this subsection shall be deemed to
26be approved.

27(d) Reapplication.--If an application is not approved under
28this section, the applicant may revise the application and plan
29and reapply for approval.

30Section 803. Additional powers of management entities.

1In addition to other powers and functions of management
2entities granted under this act, a management entity shall have
3the power to borrow money for the purposes of executing a TRID
4or TRID planning study for which a TRID fund has been approved
5under section 802.

6Section 804. Prohibition on management entities.

7A member of the management entity may not receive money
8directly or indirectly from the TRID fund.

9Section 805. Qualified businesses.

10(a) List.--By June 1 following the end of the baseline year,
11and for every year thereafter, each management entity shall file
12with the department a complete list of all businesses located in
13the TRID and all construction contractors engaged in
14construction, reconstruction or renovation of a facility in the
15TRID in the prior calendar year. The list shall include for each
16business address, State tax identification number and parcel
17number and a map of the TRID with parcel numbers.

18(b) Time.--If the list under subsection (a) is not timely
19provided to the department, no eligible State tax shall be
20certified by the department for the prior calendar year.

<-21(c) Audit.--The management entity shall hire an independent
22auditing firm to perform an annual audit verifying all of the
23following:

24(1) The correct amount of the eligible local tax was
25submitted to the local taxing authorities.

26(2) The local taxing authorities transferred the correct
27amount of eligible local tax to the State Treasurer.

28(3) The money transferred to the TRID fund was properly
29expended.

30(4) Verify the correct amount was requested under

1section 810(c).

2Section 806. Funds.

3(a) Notice.--Following the approval of an application under
4section 802, the management entity shall notify the State
5Treasurer.

6(b) Establishment.--Upon receipt of notice under subsection
7(a), the State Treasurer shall establish for each TRID a special
8fund for the benefit of the management entity to be known as the
9TRID Fund. Interest income derived from investment of money in a
10fund shall be credited by the State Treasury to the fund.

11Section 807. Reports.

12(a) TRID report.--By June 15 following the baseline year and
13each year thereafter, each qualified business shall file a
14report with the department in a form or manner required by the
15department which includes all of the following:

16(1) Amount of each eligible tax which was paid to the
17Commonwealth by the qualified business in the prior calendar
18year.

19(2) Amount of each eligible tax refund received from the
20Commonwealth in the prior calendar year by the qualified
21business.

22(b) Penalties.--

23(1) Failure to file a timely and complete report under
24subsection (a) may result in the imposition of a penalty of
25the lesser of:

26(i) ten percent of all eligible tax due the taxing
27authority in the prior calendar year; or

28(ii) one thousand dollars.

29(2) A penalty for a violation of subsection (a) shall be
30imposed, assessed and collected by the department under

1procedures set forth in Article II of the act of March 4,
21971 (P.L.6, No.2), known as the Tax Reform Code of 1971.
3Money collected under this paragraph shall be deposited in
4the General Fund.

5Section 808. Calculation of baseline.

6(a) Baseline tax.--By October 15 following the end of the
7baseline year and for each year thereafter, the department shall
8verify the State baseline tax amount which consists of <-50% 75%
9of the following:

10(1) For qualified businesses that file timely TRID
11reports under section 807, the amount of eligible State tax
12paid, less eligible State tax refunds.

13(2) For qualified businesses not included under
14paragraph (1) but located or partially located in the TRID as
15determined by the department or included in the information
16received by the department under section 807(a), the amount
17of eligible State tax paid, less eligible State tax refunds.

18(b) Moves and noninclusions.--

19(1) This subsection applies to a qualified business
20that:

21(i) moves into a zone from within this Commonwealth
22after the baseline year; or

23(ii) is in a zone but not included in the
24calculation of the State baseline tax under subsection
25(a).

26(2) A qualified business subject to paragraph (1) shall
27file a TRID report under section 807 following the end of the
28first full calendar year in which the qualified business
29conducted business in the TRID and each calendar year
30thereafter. The amount of eligible State tax verified by the

1department for the qualified business for the prior calendar
2year shall be added to the State baseline tax amount for the
3zone for the prior calendar year and each year thereafter.

4(3) The calculation under this section may not include
5the eligible taxes of a qualifying business moving into the
6TRID from outside this Commonwealth.

7Section 809. Certification.

8(a) Amounts.--By the October 15 following the baseline year,
9and each year thereafter, the department shall do all of the
10following for the prior calendar year:

11(1) Make the following calculation for qualified
12businesses which file TRID reports under section 807(a),
13separately for each TRID:

14(i) Subtract:

15(A) the amount of eligible State tax refunds
16received; from

17(B) the amount of eligible State tax paid.

18(ii) Subtract:

19(A) the State tax baseline amount for the zone;
20from

21(B) the difference under subparagraph (i).

22(2) Certify to the Office of the Budget the difference
23under paragraph (1)(ii).

24(b) Content.--

25(1) The certification may include the following:

26(i) Adjustment made to timely filed TRID reports by
27the department for eligible State tax actually paid by a
28qualified business in the prior calendar year.

29(ii) Eligible State tax refunds paid to a qualified
30business in the TRID in a prior calendar year.

1(iii) State tax penalties paid by a qualified
2business in the prior year under section 807(b).

3(2) The certification shall not include the following:

4(i) Tax paid by a qualified business that did not
5file a timely TRID report under section 807(a).

6(ii) Tax paid by a qualified business whose tax was
7not included in the State tax baseline amount calculation
8under section 808.

9(iii) Tax paid by a qualifying business not
10appearing on a timely filed list under section 805(a).

11Section 810. Transfers.

12(a) Office.--Within ten days of receiving the certification
13from the department under section 809, the Office of the Budget
14shall direct the State Treasurer to transfer the amount of
15certified eligible TRID tax from the General Fund to each TRID
16fund.

17(b) State Treasurer.--Within ten days of receiving direction
18under subsection (a), the State Treasurer shall pay into the
19TRID fund the amount directed under subsection (a) until bonds
20issued to finance the construction, including related
21infrastructure and site preparation, reconstruction or
22renovation of a facility or other eligible project in the TRID
23are retired.

24(c) Notification.--The following shall apply:

25(1) If the transfers under subsection (a) are
26insufficient to make payments on the bonds issued under
27section 811(a)(1) for the calendar year when the transfers
28are made, the management entity shall notify the Department
29of Community and Economic Development, the Office of the
30Budget and the department of the amount of additional money

1necessary to make payments on the bonds.

2(2) The notification under paragraph (1) must be
3accompanied by a detailed account of the management entity's
4expenditures and the calculation which resulted in the
5request for additional money. The Department of Community and
6Economic Development, the Office of the Budget or the
7department may request additional information from the
8management entity and shall jointly verify the proper amount
9of money necessary to make the payments on the bonds.

10(3) Notwithstanding 53 Pa.C.S. § 5607(e) (relating to
11purposes and powers) within 90 days of the date of the
12notification request, the Office of the Budget shall direct
13the State Treasurer to establish a restricted account within
14the General Fund. The Office of the Budget shall direct the
15State Treasurer to transfer the amount verified under
16paragraph (2) from the General Fund to the restricted account
17for the use of the management entity to make payments on the
18bonds issued under section 811(a)(1).

19(4) Money transferred under paragraph (3):

20(i) shall be limited to 50% of the State tax
21baseline amount for the calendar year prior to the date
22the amount is verified under paragraph (2), not to exceed
23$10,000,000; and

24(ii) must occur in the first seven calendar years
25following the baseline year.

26(5) Under extraordinary circumstances, a management
27entity may request money in excess of the limitations under
28paragraph (4)(i). The Department of Community and Economic
29Development, the Office of the Budget and the department
30shall determine whether the circumstances merit additional

1money and the amount to be transferred. The money shall be
2transferred under the procedure under this section.

3(6) Money transferred under paragraph <-(4) (3) shall be
4repaid to the General Fund by the management entity. If money
5transferred under paragraph (3) is not repaid to the General
6Fund by the management entity by the date of the final
7payment on the bonds originally issued under section
8811(a)(1), the municipality or county and the transit agency
9which established the management entity shall pay, in equal
10shares, the money not repaid to the General Fund plus an
11additional penalty of 10% of the amount outstanding on the
12date of the final payment on the bonds originally issued
13under section 811(a)(1).

14Section 811. Restrictions.

15(a) Utilization.--If the use was approved in an application
16filed under section 802, money transferred under section 810 may
17only be utilized for the following:

18(1) Payment of debt service on bonds issued for the
19construction, including related infrastructure and site
20preparation, reconstruction or renovation of a facility in
21the TRID.

22(2) Construction, including related infrastructure and
23site preparation, reconstruction or renovation of all or a
24part of a facility.

25(3) Replenishment of amounts in debt service reserve
26funds established to pay debt service on bonds.

27(4) Employment of an independent auditing firm to
28perform the duties under section 805(c).

29(5) Improvement or development of all or part of a TRID.

30(6) Improvement projects, including fixtures and

1equipment for a facility owned by a public authority.

2(b) Prohibition.--Money transferred under section 810 may
3not be utilized for maintenance of a facility.

4(c) Excess money.--

5(1) If the amount of money transferred to the fund under
6section 810 in any one calendar year exceeds the money
7utilized under this section in that calendar year, the
8management entity shall submit by January 15 following the
9end of the calendar year the excess money to the State
10Treasurer for deposit into the General Fund.

11(2) At the time of submission to the State Treasurer,
12the management entity shall submit to the State Treasurer,
13the Office of the Budget and department a detailed accounting
14of the calculation resulting in the excess money.

15(3) The excess money shall be credited to the management
16entity and applied to the amount required to be repaid under
17section 810(c)(6) until there is full repayment.

18(d) Matching funds.--

19(1) The amount of money transferred from the TRID fund
20utilized for the construction, including related site
21preparation and infrastructure, reconstruction or renovation
22of facilities shall be matched by <-private money other sources
23of funding at a ratio of two fund dollars to one private
24dollar.

25(2) By April 1, following the baseline year and for each
26year thereafter, the management entity shall file an annual
27report with the Department of Community and Economic
28Development, the Office of the Budget and the department that
29contains detailed account of the fund money expenditures and
30the private money expenditures <-of funds from other sources

1and a calculation of the ratio in paragraph (1) for the prior
2calendar year. The agencies shall determine whether
3sufficient <-private money funding from other sources was
4utilized.

5(3) If it is determined that insufficient <-private money
<-6funding from other sources was utilized under paragraph (1),
7the amount of TRID fund money utilized under paragraph (1) in
8the prior calendar year shall be deducted from the next
9transfer of the fund.

10Section 812. Duration.

<-11A TRID shall be in effect for a period equal to the length of

<-12A TRID fund shall be in effect for:

13(1) the amount of time required to complete any approved
14eligible project for which debt was not incurred; or

15(2) a period equal to the length of time for the
16repayment of debt incurred for the TRID, including bonds
17issued. Bonds shall be paid no later than 30 years following
18the initial issuance of the bonds.

19Section 813. Commonwealth pledges.

20(a) Pledge.--If and to the extent the management entity
21pledges amounts required to be transferred to its TRID fund
22under section 810 for payment of bonds issued by the management
23entity, until all bonds secured by the pledge of the management
24entity, together with interest on the bonds, are fully paid or
25provided for, the Commonwealth pledges to and agrees with any
26person, firm, corporation or government agency, in this
27Commonwealth or elsewhere and pledges to and agrees with any
28Federal agency subscribing to or acquiring the bonds of the
29contracting authority that the Commonwealth itself will not, nor
30will it authorize any government entity to, do any of the

1following:

2(1) Abolish or reduce the size of the zone.

3(2) Amend or repeal section 808 or 809.

4(3) Limit or alter the rights vested in the management
5entity in a manner inconsistent with the obligations of the
<-6contracting authority management entity with respect to the
7bonds issued by the management entity.

8(4) Impair revenue to be paid under this chapter to the
9management entity necessary to pay debt service on bonds.

10(b) Limitation.--Nothing under this section shall limit the
11authority of the Commonwealth to change the rate, base or
12subject of a specific tax or to repeal or enact any tax.

13Section 814. Confidentiality.

14(a) Sole use.--A TRID report or certification under this
15chapter shall only be used by the management entity, the
16Department of Community and Economic Development, the Office of
17the Budget or the department to verify the amount of the State
18tax baseline amount calculated under section 809 and State tax
19certification under section 809.

20(b) Prohibition.--Use of a TRID report other than as
21provided under subsection (a) shall be prohibited and shall be
22subject to the law applicable to the confidentiality of tax
23records.

24Section 815. Guidelines.

25By <-July 1, December 31, 2014, the Department of Community and
26Economic Development, the Office of the Budget and the
27department shall develop and publish guidelines necessary to
28implement this chapter.

29Section 4. Section 901 of the act is amended to read:

30Section 901. Public meeting to explain TRID and alternative

1implementation approaches.

2Community and public involvement in the establishment of
3TRIDs is required. The municipality and the public
4transportation agency shall jointly conduct at least one public
5meeting in the proposed TRID area prior to the enactment of a
6TRID[,] and TRID planning study[, comprehensive plan or zoning
7amendment]. The meeting is intended to explain the purpose and
8components of the TRID and the alternative implementation
9approaches. The public meeting or meetings shall be in addition
10to any required local government public hearing or hearings
11prior to comprehensive or multimunicipal plan amendment
12adoption. However, nothing in this act shall relieve the [TRID
13management entity] municipality or public transportation entity
14from conducting all public meetings required by law where the
15TRID is acting or seeking to act under the:

16(1) Act of May 24, 1945 (P.L.991, No.385), known as the
17Urban Redevelopment Law.

18(2) Act of July 11, 1990 (P.L.465, No.113), known as the
19Tax Increment Financing Act.

20(3) Act of December 20, 2000 (P.L.949, No.130), known as
21the Neighborhood Improvement District Act.

22Section 5. This act shall take effect in 60 days.