issuance of bonds subject to the provisions hereof.
* * *
* * *
SECTION 2. SECTION 317(B) OF THE ACT 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 on redevelopment assistance capital projects
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.] $3,400,000,000. Beginning July 1, 2018, and
each July 1 thereafter until the sum of the outstanding
obligations for redevelopment assistance capital projects equals
$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.--In each fiscal year, 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
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