PRIOR PRINTER'S NOS. 864, 2218, 2537, 2623
PRINTER'S NO. 2632
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
785
Session of
2017
INTRODUCED BY SAYLOR AND TURZAI, MARCH 10, 2017
AMENDMENTS TO SENATE AMENDMENTS TO HOUSE AMENDMENTS TO SENATE
AMENDMENTS, AS AMENDED, HOUSE OF REPRESENTATIVES, OCTOBER 24,
2017
AN ACT
Amending the act of February 9, 1999 (P.L.1, No.1), entitled "An
act providing for borrowing for capital facilities;
conferring powers and duties on various administrative
agencies and officers; making appropriations; and making
repeals," in capital facilities, further providing for bonds,
issue of bonds and notes, maturity, interest and for
appropriation for and limitation on redevelopment assistance
capital projects; and providing for capital budgets.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 307(c)(4.1) of the act of February 9,
1999 (P.L.1, No.1), known as the Capital Facilities Debt
Enabling Act, is repealed:
Section 307. Bonds, issue of bonds and notes, maturity,
interest.
* * *
(c) Terms and conditions.--
* * *
[(4.1) The issuing officials may enter into agreements
or contracts to insure or secure payment of principal,
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
interest or the purchase price of bonds which, in the
judgment of the issuing officials, will assist in managing
the interest costs of the debt of the Commonwealth.]
* * *
Section 2. Section 317(b) of the act is amended to read:
Section 317. Appropriation for and limitation on redevelopment
assistance capital projects.
* * *
(b) Limitation.--The maximum amount of redevelopment
assistance capital projects undertaken by the Commonwealth for
which obligations are outstanding shall not exceed, in
aggregate, [$3,450,000,000.] $3,400,000,000 $3,350,000,000 .
Beginning July 1, 2018, and each July 1 thereafter until the sum
of the outstanding obligations for redevelopment assistance
capital projects equals $3,200,000,000 $3,150,000,000 , the sum
of the maximum amount of outstanding obligations for
redevelopment assistance projects shall be decreased by
$50,000,000.
* * *
Section 3. The act is amended by adding a chapter to read:
CHAPTER 6
CAPITAL BUDGETS
SUBCHAPTER A
SCOPE OF CHAPTER
Section 601. Scope of chapter.
This chapter applies to capital budgets for particular fiscal
years.
SUBCHAPTER B
CAPITAL BUDGET ACT OF 2017-2018
Section 611. Short title.
20170HB0785PN2632 - 2 -
<--<--
<--<--
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
This subchapter shall be known and may be cited as the
Capital Budget Act of 2017-2018.
Section 612. Overall limitations on debt to be incurred for
capital projects.
The maximum principal amount of additional debt to be
incurred during the 2017-2018 fiscal year and thereafter until
the enactment of the 2018-2019 capital budget specifying the
maximum debt for the 2018-2019 fiscal year for capital projects
specifically itemized in a capital budget pursuant to section
7(a)(4) of Article VIII of the Constitution of Pennsylvania and
the fund to be charged with the repayment of such debt shall,
with respect to each category of capital projects, be as
follows:
(1) Public Improvement
Projects:
(i) Buildings and
structures $680,000,000 General Fund or
special fund as
applicable
(2) Furniture and
equipment 10,000,000 General Fund or
special fund as
applicable
(3) Transportation
assistance projects 350,000,000 General Fund
(4) Redevelopment
assistance projects 175,000,000 General Fund
(5) Flood control
projects 10,000,000 General Fund
Total $1,225,000,000
20170HB0785PN2632 - 3 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Section 4. This act shall take effect immediately.
20170HB0785PN2632 - 4 -
1