Bill Text: PA HB2290 | 2009-2010 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Further providing for appropriation for and limitation on redevelopment assistance capital projects.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2010-07-07 - Act No. 48 [HB2290 Detail]

Download: Pennsylvania-2009-HB2290-Introduced.html

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PRINTER'S NO. 3275
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 2290 Session of2010
INTRODUCED BY D. EVANS, MARCH 5, 2010
REFERRED TO COMMITTEE ON APPROPRIATIONS, MARCH 5, 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.
(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.
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