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https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20130&cosponId=11662
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House of Representatives
Session of 2013 - 2014 Regular Session

MEMORANDUM

Posted: February 12, 2013 10:18 AM
From: Representative Scott A. Petri
To: All House members
Subject: Rebuild PA
 
I will be reintroducing a legislative package entitled Rebuild PA, creating two parallel bond programs that will help to rebuild our state’s ailing infrastructure. My proposal will create an Energy Independence Bond program and an Infrastructure Bond program. The two programs will allow the state to obtain funds that will be used to address our 21st Century energy needs as well as address the deficiency in the Commonwealth’s transportation networks. The Infrastructure Bond program will also include funding for water and sewer improvements, of which many Pennsylvania communities are in desperate need. Notably, this will all be accomplished without raising the tax burden on Pennsylvanians, now or in the future.

My plan allows ordinary Pennsylvanians the chance to have a direct stake in the Commonwealth’s recovery, beyond simply hoping that Pennsylvania’s leaders get the job done right. Pennsylvanians will have the opportunity to invest in their own community and will directly benefit from the projects they help to fund.



Document #1

Introduced as HB996

Description:

Former HOUSE BILL 545:  I am proposing that there be established an Energy Independence Bond Guarantee Program, which would allow the sale of private bonds in $100 increments to fund energy infrastructure projects.  Under my proposal, the total amount of bonds, which would be guaranteed by the Commonwealth Financing Agency (CFA), would be limited to $1 billion.  The CFA would review and approve applications and the private bonds would be sold at local financial institutions.  An individual would be limited to the purchase of no more than ten energy bonds or $1,000.

 

Document #2

Introduced as HB998

Description:

Former HOUSE BILL 546:  It is evident that Pennsylvania, as well as our nation itself, is facing a serious infrastructure crisis.  Our Interstates, now a half-century old, are in need of maintenance and expansion.  Our bridges are reaching the end of their design life, and nearly a quarter of them in Pennsylvania have been deemed structurally deficient.  Congestion is a seemingly constant condition as the increasing volume of vehicles threatens to exceed the existing capacity of our roadways.  There are also many communities throughout the Commonwealth that will benefit from the rehabilitation and repair of existing sewer and water infrastructure.
 
In addition, Pennsylvania must ensure a pervasive and reasonable priced broadband infrastructure, made accessible through a mixture of technologies, positioning the Commonwealth as a global economic competitor in an informational-based economy.  Broadband can be used to substantially benefit educational institutions, healthcare institutions, community-based organizations and governmental institutions.  These projects will not only improve the quality of life for many citizens of the Commonwealth, but will also promote economic development at the same time.
 
My legislation will offer Pennsylvanians the opportunity to purchase tax free infrastructure bonds in $100 increments.  The bonds will be guaranteed by the Commonwealth and will provide a return of 5%.  Proceeds from the bonds will be utilized to revitalize Pennsylvania’s infrastructure, including its roads, bridges, railroads, dams, water supply and sewage treatment systems, energy communications, flood control measures and any other such infrastructure deemed necessary.  To accomplish this, my legislation will authorize the Commonwealth to incur $400,000,000 of indebtedness, with the approval of voters.
 
My legislation will promote economic development, create jobs and significantly contribute to the quality of life for Pennsylvania’s citizens.  In our current economic climate, what could be more important?