PRINTER'S NO. 1488
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
928
Session of
2015
INTRODUCED BY MENTZER, GABLER, DUNBAR, TOOHIL, R. BROWN, TOPPER,
TURZAI, LAWRENCE, STEPHENS, CUTLER, DIAMOND, GREINER, GROVE,
A. HARRIS, IRVIN, KAUFFMAN, MACKENZIE, MILNE, SAYLOR, TOEPEL,
WARD AND WATSON, MAY 11, 2015
REFERRED TO COMMITTEE ON FINANCE, MAY 11, 2015
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," in capital facilities, 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 October 25, 2013 (P.L.648, No.77), 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
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Debt Fund upon authorization by the Governor.
(b) Limitation on redevelopment assistance capital project
obligations.--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. Beginning July 1, 2018, and each July 1
thereafter until the sum of the outstanding obligations for
redevelopment assistance capital projects equals $2,950,000,000,
the sum of the maximum amount of outstanding obligations for
redevelopment assistance projects shall be decreased by
$50,000,000.
(c) Housing units.--An amount not to exceed $50,000,000 of
the amount under subsection (b) may be used for the construction
of housing units.
Section 2. This act shall take effect immediately.
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