SENATE AMENDED
PRIOR PRINTER'S NOS. 2340, 2401, 2452 PRINTER'S NO. 2566
No. 1802 Session of 2005
INTRODUCED BY FEESE, JUNE 27, 2005
SENATOR THOMPSON, APPROPRIATIONS, IN SENATE, RE-REPORTED AS
AMENDED, JULY 6, 2005
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 DEFINING "REDEVELOPMENT ASSISTANCE CAPITAL <--
6 PROJECT"; further providing for procedures for capital budget
7 bill and debt-authorizing legislation and for appropriation
8 for and limitation on redevelopment assistance capital
9 projects; AND PROVIDING FOR QUARTERLY REPORTS RELATED TO <--
10 REDEVELOPMENT ASSISTANCE CAPITAL PROJECTS AND FOR THE
11 REFUNDING OF DEBT ISSUED UNDER PREVIOUS AUTHORIZED ACTS.
12 The General Assembly of the Commonwealth of Pennsylvania
13 hereby enacts as follows:
14 Section 1. Section 303(b) of the act of February 9, 1999 <--
15 (P.L.1, No.1), known as the Capital Facilities Debt Enabling
16 Act, is amended to read:
17 SECTION 1. THE DEFINITION OF "REDEVELOPMENT ASSISTANCE <--
18 CAPITAL PROJECT" IN SECTION 302 OF THE ACT OF FEBRUARY 9, 1999
19 (P.L.1, NO.1), KNOWN AS THE CAPITAL FACILITIES DEBT ENABLING
20 ACT, AMENDED JULY 4, 2004 (P.L.516, NO.67), IS AMENDED TO READ:
21 SECTION 302. DEFINITIONS.
1 THE FOLLOWING WORDS AND PHRASES WHEN USED IN THIS CHAPTER
2 SHALL HAVE THE MEANINGS GIVEN TO THEM IN THIS SECTION UNLESS THE
3 CONTEXT CLEARLY INDICATES OTHERWISE:
4 * * *
5 "REDEVELOPMENT ASSISTANCE CAPITAL PROJECT." THE DESIGN AND
6 CONSTRUCTION OF FACILITIES WHICH MEET THE FOLLOWING:
7 (1) ARE FACILITIES, OTHER THAN [HOUSING UNITS,]
8 HIGHWAYS, BRIDGES, WASTE DISPOSAL FACILITIES, SEWAGE
9 FACILITIES OR WATER FACILITIES. THIS PARAGRAPH INCLUDES:
10 (I) WATER OR SEWER INFRASTRUCTURE OR BRIDGES OR
11 ROADS WHEN INCLUDED AS PART OF A BUSINESS OR INDUSTRIAL
12 PARK FACILITY.
13 (II) HOSPITAL FACILITIES AND CAPITAL IMPROVEMENTS
14 FOR HOSPITAL FACILITIES.
15 (2) ARE ECONOMIC DEVELOPMENT PROJECTS WHICH GENERATE
16 SUBSTANTIAL INCREASES IN EMPLOYMENT, TAX REVENUES OR OTHER
17 MEASURES OF ECONOMIC ACTIVITY. THIS PARAGRAPH INCLUDES
18 PROJECTS WITH CULTURAL, HISTORICAL OR CIVIC SIGNIFICANCE.
19 (3) ARE FACILITIES WHICH HAVE A REGIONAL OR
20 MULTIJURISDICTIONAL IMPACT.
21 (4) ARE ELIGIBLE FOR TAX-EXEMPT BOND FUNDING UNDER
22 EXISTING FEDERAL LAW AND REGULATIONS.
23 (5) HAVE A 50% NON-STATE PARTICIPATION DOCUMENTED AT THE
24 TIME OF APPLICATION, INCLUDING A PORTION OF ANY FUNDS
25 RESERVED FOR FUTURE PHYSICAL MAINTENANCE AND OPERATION OF THE
26 FACILITIES:
27 (I) AT LEAST HALF OF WHICH IS SECURED FUNDING;
28 (II) TOWARD WHICH THE ONLY NONCASH NON-STATE
29 PARTICIPATION PERMITTED IS LAND OR FIXED ASSETS WHICH
30 HAVE A SUBSTANTIAL USEFUL LIFE AND ARE DIRECTLY RELATED
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1 TO THE PROJECT;
2 (III) TOWARD WHICH STATE FUNDS FROM OTHER PROGRAMS
3 MAY NOT BE USED; AND
4 (IV) TOWARD WHICH FUNDS FROM FEDERAL SOURCES MAY BE
5 USED.
6 (6) HAVE A TOTAL PROJECT COST OF AT LEAST $1,000,000.
7 (7) APPLICANTS SHALL BE ONE OF THE FOLLOWING:
8 (I) A REDEVELOPMENT AUTHORITY.
9 (II) AN INDUSTRIAL DEVELOPMENT AUTHORITY.
10 (III) A GENERAL PURPOSE UNIT OF LOCAL GOVERNMENT.
11 (IV) A LOCAL DEVELOPMENT DISTRICT WHICH HAS AN
12 AGREEMENT WITH A GENERAL PURPOSE UNIT OF LOCAL GOVERNMENT
13 UNDER WHICH THE UNIT ASSUMES ULTIMATE RESPONSIBILITY FOR
14 DEBT INCURRED TO OBTAIN THE 50% NON-STATE PARTICIPATION
15 REQUIRED BY PARAGRAPH (5).
16 (V) ANY PUBLIC AUTHORITY ESTABLISHED PURSUANT TO THE
17 LAWS OF THIS COMMONWEALTH.
18 (VI) AN INDUSTRIAL DEVELOPMENT AGENCY WHICH HAS BEEN
19 CERTIFIED AS AN INDUSTRIAL DEVELOPMENT AGENCY BY THE
20 PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY BOARD
21 PURSUANT TO THE ACT OF MAY 17, 1956 (1955 P.L.1609,
22 NO.537), KNOWN AS THE PENNSYLVANIA INDUSTRIAL DEVELOPMENT
23 AUTHORITY ACT, AND WHICH IS ITSELF OR WHICH IS ACTING
24 THROUGH A WHOLLY OWNED SUBSIDIARY WHICH IS EXEMPT FROM
25 FEDERAL TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL
26 REVENUE CODE OF 1986 (PUBLIC LAW 99-514, 26 U.S.C. § 1 ET
27 SEQ.).
28 THE TERM ALSO INCLUDES A FIRE TRUCK AND FIREFIGHTING EQUIPMENT
29 TO THE EXTENT THAT THE REQUEST FOR ASSISTANCE DOES NOT EXCEED
30 $50,000.
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1 * * *
2 SECTION 2. SECTION 303(B) OF THE ACT IS AMENDED TO READ:
3 Section 303. Procedures for capital budget bill and debt-
4 authorizing legislation.
5 * * *
6 (b) Itemization.--[The]
7 (1) Except as set forth in paragraph (2), the capital
8 budget bill must specifically itemize, by brief identifying
9 description and estimated financial cost, the capital
10 projects to be financed from the proceeds of obligations of
11 the Commonwealth. [except where such itemization is]
12 (2) Paragraph (1) does not apply if the itemization is:
13 (i) contained in or approved by prior legislation
14 referred to in the capital budget bill [or except where
15 such itemization is]; or
16 (ii) included in one or more supplemental capital
17 budget bills.
18 (3) Projects must be listed in separate categories as
19 well as according to the fund to be charged with the
20 repayment of the obligations to be incurred.
21 (4) The capital budget bill must state the maximum
22 amount of such obligations which may be incurred in the
23 ensuing fiscal year to provide funds for and towards the
24 financial costs of each category of capital projects, which
25 shall be by the issue of general obligations of the
26 Commonwealth.
27 * * *
28 SECTION 3. THE ACT IS AMENDED BY ADDING A SECTION TO READ: <--
29 SECTION 313.1. REPORTS RELATED TO REDEVELOPMENT ASSISTANCE
30 CAPITAL PROJECTS.
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1 THE SECRETARY OF THE BUDGET SHALL, WITHIN TEN DAYS OF THE
2 EXPIRATION OF EACH QUARTER OF EACH FISCAL YEAR, PROVIDE TO THE
3 CHAIRMAN AND MINORITY CHAIRMAN OF THE APPROPRIATIONS COMMITTEE
4 OF THE SENATE AND THE CHAIRMAN AND MINORITY CHAIRMAN OF THE
5 APPROPRIATIONS COMMITTEE OF THE HOUSE OF REPRESENTATIVES A
6 REPORT RELATING TO REDEVELOPMENT ASSISTANCE CAPITAL PROJECTS
7 WHICH ADDRESSES AT LEAST ALL OF THE FOLLOWING MATERIALS:
8 (1) AN ITEMIZED LIST OF THE REDEVELOPMENT ASSISTANCE
9 CAPITAL PROJECTS APPROVED FOR RELEASE AND CONSTRUCTION IN THE
10 PRECEDING QUARTER.
11 (2) AN ESTIMATE OF THE AMOUNT OF FUNDS REMAINING UNDER
12 THE CAP PROVIDED IN SECTION 317(B).
13 (3) AN ESTIMATE OF THE TOTAL AMOUNT OF OUTSTANDING DEBT
14 RELATED TO REDEVELOPMENT ASSISTANCE CAPITAL PROJECTS.
15 (4) AN ESTIMATE OF THE AMOUNT OF OUTSTANDING DEBT
16 RELATED TO REDEVELOPMENT ASSISTANCE CAPITAL PROJECTS WHICH
17 WILL BE PAID OR REFINANCED IN THE SUCCEEDING FOUR QUARTERS.
18 Section 2 4. Section 317(b) of the act, amended July 4, 2004 <--
19 (P.L.516, No.67), is amended AND THE SECTION IS AMENDED BY <--
20 ADDING A SUBSECTION to read:
21 Section 317. Appropriation for and limitation on redevelopment
22 assistance capital projects.
23 * * *
24 (b) Limitation.--The maximum amount of redevelopment
25 assistance capital projects undertaken by the Commonwealth for
26 which obligations are outstanding shall not exceed, in
27 aggregate, [$2,150,000,000] $2,650,000,000.
28 (C) HOUSING UNITS.--AN AMOUNT NOT TO EXCEED $25,000,000 OF <--
29 THE AMOUNT UNDER SUBSECTION (B) MAY BE USED FOR THE CONSTRUCTION
30 OF HOUSING UNITS.
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1 SECTION 5. REFUNDING THE DEBT ISSUED UNDER PREVIOUSLY
2 AUTHORIZED ACTS.--THE ISSUING OFFICIALS ARE AUTHORIZED TO
3 PROVIDE BY RESOLUTION FOR THE ISSUANCE OF REFUNDING BONDS FOR
4 THE PURPOSE OF REFUNDING ANY DEBT ISSUED UNDER THE PROVISIONS OF
5 ANY PREVIOUSLY AUTHORIZED DEBT ACT, INCLUDING DEBT ISSUED
6 PURSUANT TO VOTER REFERENDA, AND THEN OUTSTANDING, EITHER BY
7 VOLUNTARY EXCHANGE WITH THE HOLDERS OF THE OUTSTANDING DEBT OR
8 TO PROVIDE FUNDS TO REDEEM AND RETIRE THE OUTSTANDING DEBT WITH
9 ACCRUED INTEREST, ANY PREMIUM PAYABLE THEREFROM AND THE COSTS OF
10 ISSUANCE AND RETIREMENT OF THE DEBT, AT MATURITY OR AT ANY CALL
11 DATE. THE ISSUANCE OF THE REFUNDING BONDS, THE MATURITIES AND
12 OTHER DETAILS THEREOF, THE RIGHTS OF THE HOLDERS THEREOF AND THE
13 DUTIES OF THE ISSUING OFFICIALS IN RESPECT THERETO SHALL BE
14 GOVERNED BY THE PROVISIONS OF THIS SECTION, INSOFAR AS THEY MAY
15 BE APPLICABLE. REFUNDING BONDS MAY BE ISSUED BY THE ISSUING
16 OFFICIALS TO REFUND DEBT ORIGINALLY ISSUED OR TO REFUND BONDS
17 PREVIOUSLY ISSUED FOR REFUNDING PURPOSES.
18 Section 3 6. This act shall take effect immediately. <--
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