PRINTER'S NO. 3161
No. 2211 Session of 2008
INTRODUCED BY CONKLIN, DeWEESE, BRENNAN, HARKINS, BELFANTI,
HORNAMAN, WALKO, MAHONEY, KULA, PASHINSKI, LONGIETTI, KORTZ
AND J. WHITE, FEBRUARY 1, 2008
REFERRED TO COMMITTEE ON APPROPRIATIONS, FEBRUARY 1, 2008
AN ACT
1 Amending the act of March 1, 1988 (P.L.82, No.16), entitled "An
2 act providing for the establishment, implementation and
3 administration of the Pennsylvania Infrastructure Investment
4 Authority; imposing powers and duties on a board of trustees;
5 transferring the rights, powers, duties and obligations of
6 the Water Facilities Loan Board to the Pennsylvania
7 Infrastructure Investment Authority; providing for the
8 issuance of notes and bonds; providing for financial
9 assistance and for a comprehensive water facilities plan;
10 authorizing a referendum to incur indebtedness; making an
11 appropriation; and making repeals," further providing for
12 financial assistance.
13 The General Assembly of the Commonwealth of Pennsylvania
14 hereby enacts as follows:
15 Section 1. Section 10(e) of the act of March 1, 1988
16 (P.L.82, No.16), known as the Pennsylvania Infrastructure
17 Investment Authority Act, is amended to read:
18 Section 10. Financial assistance.
19 * * *
20 (e) Grants.--Grants shall be made only when the board, in
21 its sole discretion, determines that the financial condition of
22 the recipient is such that repayment of a loan is unlikely and
1 that the recipient will not be able to proceed with the project
2 without a grant. In considering grant applications, the
3 authority may recommend, either before or after the
4 determination of the board, that the recipient pursue other
5 State grant programs, including, but not limited to, the Site
6 Development program, the Federal Small Communities Block Grant
7 program and the Federal Urban Development Action Grant program.
8 Should the board determine that a grant is necessary from the
9 authority, the board shall attempt to mix the grant funds with
10 loan funds, if financially possible. When a grant is made,
11 unless there is an outstanding item from a loan closing,
12 disbursement shall be made as follows:
13 (1) Except as set forth in paragraph (2), within 15
14 business days of receipt of an accurate payment request.
15 (2) In the case of a first-time recipient, within 15
16 days of a successful automated clearinghouse account test to
17 establish the viability of electronic transfer of funds.
18 * * *
19 Section 2. The amendment of section 10(e) of the act shall
20 apply to grants made on or after the effective date of this
21 section.
22 Section 3. This act shall take effect immediately.
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