(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 on redevelopment assistance capital project
obligations.-- (B) LIMITATION.--
(1) 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
$3,450,000,000.
(2) 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 $3,200,000,000 , the sum of the maximum amount
of outstanding obligations for redevelopment assistance
projects shall be decreased by $50,000,000.
(b.1) Limitation on additional capital project releases
financed by debt.-- Beginning July 1, 2017, and in each fiscal
year thereafter, the following limitations on releasing
additional capital projects for funding authorizations financed
by debt shall apply:
(1) The maximum amount of additional public improvement
projects released for funding by the Commonwealth in a fiscal
year shall not exceed $350,000,000.
(2) The maximum amount of additional redevelopment
assistance capital projects released for funding by the
Commonwealth in a fiscal year shall not exceed $125,000,000.
(b.2) Carry forward.--
20170HB0785PN2218 - 4 -
<--
<--
<--
<--
<--
<--
<--
<--
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30