HOUSE AMENDED
PRIOR PRINTER'S NO. 655 PRINTER'S NO. 782
No. 582 Session of 2003
INTRODUCED BY MADIGAN AND THOMPSON, APRIL 15, 2003
AS REPORTED FROM COMMITTEE ON APPROPRIATIONS, HOUSE OF
REPRESENTATIVES, AS AMENDED, APRIL 29, 2003
AN ACT
1 Providing for the capital budget for the fiscal year 2002-2003,
2 itemizing public improvement REDEVELOPMENT ASSISTANCE <--
3 projects to be constructed or acquired or assisted by the
4 Department of Community and Economic Development, together
5 with their estimated financial costs; authorizing the
6 incurring of debt without the approval of the electors for
7 the purpose of financing the projects to be constructed or
8 acquired or assisted by the Department of Community and
9 Economic Development; stating the estimated useful life of
10 the projects; and making an appropriation.
11 The General Assembly of the Commonwealth of Pennsylvania
12 hereby enacts as follows:
13 Section 1. Short title.
14 This act shall be known and may be cited as the Capital
15 Budget Project Itemization Act for 2002-2003.
16 Section 2. Total authorizations.
17 The total authorization for the additional capital projects
18 in the category of public improvement REDEVELOPMENT ASSISTANCE <--
19 projects itemized in section 3 and to be acquired or constructed
20 by the Department of Community and Economic Development, its
1 successors or assigns, and to be financed by the incurring of
2 debt, shall be $15,000,000.
3 Section 3. Itemization of redevelopment assistance projects.
4 Additional capital projects in the category of redevelopment
5 assistance projects for capital grants by the Department of
6 Community and Economic Development, its successors or assigns,
7 authorized under the provisions of the act of May 20, 1949
8 (P.L.1633, No.493), known as the Housing and Redevelopment
9 Assistance Law, and redevelopment assistance capital projects
10 and to be financed by the incurring of debt, are hereby
11 itemized, together with their respective estimated financial
12 costs, as follows:
13 Total
14 Project
15 Project Allocation
16 (1) Department of Community and Economic
17 Development
18 (i) Bradford County-North Towanda Township
19 (A) DuPont Company's Imaging Technologies,
20 for construction and improvements of
21 existing facility. $15,000,000
22 Section 4. Debt authorization.
23 Subject to the limitation in section 317(b) of the act of
24 February 9, 1999 (P.L.1, No.1), known as the Capital Facilities
25 Debt Enabling Act, the Governor, Auditor General and State
26 Treasurer are hereby authorized and directed to borrow from time
27 to time in addition to any authorization heretofore or hereafter
28 enacted, on the credit of the Commonwealth, subject to the
29 limitations provided in the current capital budget, money not
30 exceeding in the aggregate the sum of $15,000,000 as may be
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1 found necessary to carry out the redevelopment assistance and
2 the redevelopment assistance capital projects specifically
3 itemized in a capital budget.
4 Section 5. Issue of bonds.
5 The indebtedness authorized in this act shall be incurred,
6 from time to time, and shall be evidenced by one or more series
7 of general obligation bonds of the Commonwealth in such
8 aggregate principal amount for each series as the Governor, the
9 Auditor General and the State Treasurer shall determine, but the
10 latest stated maturity date shall not exceed the estimated
11 useful life of the projects being financed as stated in section
12 6.
13 Section 6. Estimated useful life and term of debt.
14 (a) Estimated useful life.--The General Assembly states that
15 the estimated useful life of the public improvement projects
16 itemized in this act is as follows:
17 (1) Public improvement projects, 30 years.
18 (2) Furniture and equipment projects, 10 years.
19 (3) Transportation assistance projects:
20 (i) Rolling stock, 15 years.
21 (ii) Passenger buses, 12 years.
22 (iii) Furniture and equipment, 10 years.
23 (iv) All others, 30 years.
24 (b) Term of debt.--The maximum term of the debt authorized
25 to be incurred under this act is 30 years.
26 Section 7. Appropriations.
27 The net proceeds of the sale of the obligations authorized in
28 this act are hereby appropriated from the Capital Facilities
29 Fund to the Department of Community and Economic Development in
30 the maximum amount of $15,000,000 to be used by it exclusively
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1 to defray the financial cost of the redevelopment assistance and
2 redevelopment assistance capital projects specifically itemized
3 in a capital budget. After reserving or paying the expenses of
4 the sale of the obligation, the State Treasurer shall pay to the
5 Department of Community and Economic Development the moneys as
6 required and certified by it to be legally due and payable.
7 Section 8. Federal funds.
8 In addition to those funds appropriated in section 7, all
9 moneys received from the Federal Government for the projects
10 specifically itemized in this act are also hereby appropriated
11 for those projects.
12 Section 9. Expiration of authorization and appropriation.
13 The authorization and appropriation for the additional
14 capital projects itemized in section 3 for which grant
15 agreements have not been executed within four years of the
16 effective date of this act shall expire upon such date and shall
17 be considered repealed. The Secretary of the Budget may extend
18 an expired project for up to one year upon written notification
19 of the majority chairman and minority chairman of the
20 Appropriations Committee of the Senate and the majority chairman
21 and minority chairman of the Appropriations Committee of the
22 House of Representatives. Upon expiration of the extension
23 period, an extended project may not be subsequently extended.
24 Section 10. Editorial changes.
25 In editing and preparing this act for printing following the
26 final enactment, the Legislative Reference Bureau shall insert
27 or revise letters or numbers for projects where the letters or
28 numbers are missing or require revision. The bureau shall also
29 revise the total monetary amounts for the total authorization,
30 debt authorization, appropriations and departmental totals as
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1 necessary to agree with the total monetary amounts of the
2 projects.
3 Section 11. Effective date.
4 This act shall take effect immediately.
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