Pennsylvania Act 2003-49 — CAPITAL FACILITIES DEBT ENABLING ACT - INCREASING LIMITATION ON REDEVELOPMENT ASSISTANCE CAPITAL PROJECTS

Act text

CAPITAL FACILITIES DEBT ENABLING ACT - INCREASING LIMITATION ON
                REDEVELOPMENT ASSISTANCE CAPITAL PROJECTS
                  Act of Dec. 23, 2003, P.L. 357, No. 49              Cl. 72
                             Session of 2003
                               No. 2003-49

     SB 870

                                  AN ACT

     Amending the act of February 9, 1999 (P.L.1, No.1), entitled "An
        act providing for borrowing for capital facilities;
        conferring powers and duties on various administrative
        agencies and officers; making appropriations; and making
        repeals," increasing the limitation on redevelopment
        assistance capital projects.

        The General Assembly of the Commonwealth of Pennsylvania
     hereby enacts as follows:

        Section 1.  Section 317 of the act of February 9, 1999
     (P.L.1, No.1), known as the Capital Facilities Debt Enabling
     Act, amended October 28, 2002 (P.L.889, No.130), 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 is hereby appropriated
     from the General Fund and shall be transferred to the Capital
     Debt Fund upon authorization by the Governor.
        (b)  Limitation.--The maximum amount of redevelopment
     assistance capital projects undertaken by the Commonwealth for
     which obligations are outstanding shall not exceed, in
     aggregate, [$1,450,000,000] $1,510,000,000.
        Section 2.  This act shall take effect immediately.

     APPROVED--The 23rd day of December, A. D. 2003.

     EDWARD G. RENDELL