PRINTER'S NO. 1788
No. 1408 Session of 2007
INTRODUCED BY D. EVANS, JUNE 5, 2007
REFERRED TO COMMITTEE ON APPROPRIATIONS, JUNE 5, 2007
AN ACT 1 Amending the act of February 9, 1999 (P.L.1, No.1), entitled "An 2 act providing for borrowing for capital facilities; 3 conferring powers and duties on various administrative 4 agencies and officers; making appropriations; and making 5 repeals," further providing for appropriation for and 6 limitation on redevelopment assistance capital projects. 7 The General Assembly of the Commonwealth of Pennsylvania 8 hereby enacts as follows: 9 Section 1. Section 317 of the act of February 9, 1999 10 (P.L.1, No.1), known as the Capital Facilities Debt Enabling 11 Act, amended July 4, 2004 (P.L.516, No.67) and December 22, 2005 12 (P.L.454, No.87), is amended to read: 13 Section 317. Appropriation for and limitation on redevelopment 14 assistance capital projects. 15 (a) Appropriation.--The amount necessary to pay principal of 16 and interest on all obligations issued to provide funds for 17 redevelopment assistance capital projects shall be appropriated 18 from the General Fund and shall be transferred to the Capital 19 Debt Fund upon authorization by the Governor.
1 (b) Limitation.--The maximum amount of redevelopment
2 assistance capital projects undertaken by the Commonwealth for
3 which obligations are outstanding shall not exceed, in
4 aggregate, [$2,650,000,000] $2,900,000,000.
5 (c) Housing units.--An amount not to exceed $25,000,000 of
6 the amount under subsection (b) may be used for the construction
7 of housing units.
8 Section 2. This act shall take effect in 60 days.
A16L72BIL/20070H1408B1788 - 2 -