SENATE AMENDED

THE GENERAL ASSEMBLY OF PENNSYLVANIA

HOUSE BILL

INTRODUCED BY D. EVANS, MARCH 5, 2010

SENATOR BROWNE, FINANCE, IN SENATE, RE-REPORTED AS AMENDED, JULY 2, 2010   

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," further providing for appropriation for and

limitation on redevelopment assistance capital projects.

The General Assembly of the Commonwealth of Pennsylvania

hereby enacts as follows:

Section 1.  Section 317 of the act of February 9, 1999

(P.L.1, No.1), known as the Capital Facilities Debt Enabling

Act, amended July 4, 2008 (P.L.618, No.48) is amended to read:

Section 317.  Appropriation for and limitation on redevelopment

assistance capital projects.

(a)  Appropriation.--The amount necessary to pay principal of

and interest on all obligations issued to provide funds for

redevelopment assistance capital projects shall be appropriated

from the General Fund and shall be transferred to the Capital

Debt Fund upon authorization by the Governor.

(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, provided that, for projects released

pursuant to the additional authorization set forth in this

amendatory act, no more than $200,000,000 in debt shall be

issued in any of the first four fiscal years beginning with the

fiscal year commencing July 1, 2008] $4,250,000,000 

<--

$4,050,000,000.

<--

(c)  Housing units.--An amount not to exceed $25,000,000 of

the amount under subsection (b) may be used for the construction

of housing units.

Section 2.  This act shall take effect immediately.