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Pennsylvania House of Representatives
06/02/2024 07:14 AM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20130&cosponId=12003
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House Co-Sponsorship Memoranda

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House of Representatives
Session of 2013 - 2014 Regular Session

MEMORANDUM

Posted: March 5, 2013 03:50 PM
From: Representative Scott A. Petri
To: All House members
Subject: Community College Capital Fund (Former HB 1279)
 
I will be reintroducing former House Bill 1279, which establishes the Community College Capital Projects Fund Pooled Financing Program to assist Pennsylvania’s fourteen community colleges in improving infrastructure and other capital needs. This program would consist of a $15,000,000 annual appropriation to provide subsidized interest rate loans for community college capital projects. The fund would be held and operated by the Pennsylvania State Public School Building Authority.

The Pennsylvania Commission for Community Colleges would act as Program Administrator and, with oversight provided by the capital project committee, establish program guidelines setting forth:
  • The manner of funding the program through the Pennsylvania State Public School Building Authority;
  • The means by which Pennsylvania community colleges may apply for loans from the program;
  • The method of prioritizing funding requests, structure of repayment plans, and manner of securing capital loans;
  • Procedures for redistributing funds as loans are repaid;
  • The designation or manner of selecting the trustee, financial advisor, bond counsel and other necessary or appropriate consulting professionals; and
  • Such other necessary or appropriate program operating guidelines.
If you have any questions regarding the legislation, or if you would like a copy of the language, please contact Lea Farrell at 787-9033 or lfarrell@pahousegop.com.

Introduced as HB1418