PRINTER'S NO. 3415
No. 2353 Session of 2008
INTRODUCED BY BIANCUCCI, DeLUCA, SURRA, KOTIK, BELFANTI,
BRENNAN, CALTAGIRONE, CARROLL, GEORGE, KORTZ, LONGIETTI,
MAHONEY, McCALL, McGEEHAN, MOYER, MYERS, PALLONE, PARKER,
RAMALEY, READSHAW, SANTONI, SIPTROTH, SOLOBAY, WALKO,
YOUNGBLOOD AND YUDICHAK, MARCH 12, 2008
REFERRED TO COMMITTEE ON COMMERCE, MARCH 12, 2008
AN ACT
1 Amending Title 64 (Public Authorities and Quasi-Public
2 Corporations) of the Pennsylvania Consolidated Statutes,
3 further providing for indebtedness.
4 The General Assembly of the Commonwealth of Pennsylvania
5 hereby enacts as follows:
6 Section 1. Section 1543(b)(1) and (c)(4) of Title 64 of the
7 Pennsylvania Consolidated Statutes are amended to read:
8 § 1543. Indebtedness.
9 * * *
10 (b) Program limitations.--Indebtedness incurred by the
11 authority under subsection (a) shall not, in aggregate, exceed
12 any of the following:
13 (1) [$300,000,000] $400,000,000 for the program
14 established in section 1551 (relating to Business in Our
15 Sites Program).
16 * * *
17 (c) Fiscal year limitations.--
1 * * *
2 (4) Except as provided in subsection (d) and upon
3 adoption of a resolution under subsection (f)(3), the
4 aggregate amount of indebtedness incurred by the authority,
5 including through the issuance of bonds, may not exceed
6 [$1,000,000,000] $1,100,000,000 reduced by the aggregate
7 amount of Commonwealth indebtedness incurred under 12 Pa.C.S.
8 Ch. 39.
9 * * *
10 Section 2. This act shall take effect in 60 days.
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