|Posted:||December 2, 2021 10:43 AM|
|From:||Representative Lori A. Mizgorski|
|To:||All House members|
|Subject:||Consolidating Material Relating to the Pennsylvania Infrastructure Bank into Title 74 of the PA Consolidated Statutes|
|Please join me as I reintroduce legislation to consolidate material relating to the Pennsylvania Infrastructure Bank into Title 74 of the Pennsylvania Consolidated Statutes. Previous House Bill 2330 of 2019-2020 Session.
The Pennsylvania Infrastructure Bank was enacted in the Administrative Code of 1929 through Act 57 of 1997. Under the program, the Department of Transportation may make loans to, or enter into leases with, qualified applicants to finance the costs of transportation projects. Under Acts 165 and 7A of 2004, this program was expanded to include financing of rail freight infrastructure. Amounts available for the program are derived from loan repayments and interest earnings.
Under this legislation, the statutory language governing the program would be consolidated into a single chapter in the Pennsylvania Consolidated Statutes, which is where similar programs under the Department of Transportation are established. The language would also be updated to reflect the current operation of the program.
I look forward to working with you on this important legislation. Please consider joining me as a cosponsor.
Introduced as HB2216