Pennsylvania Act 2003-38 — CAPITAL BUDGET ACT OF 2003-2004 - ENACTMENT

Act text

AN ACT

Providing for the capital budget for the fiscal year 2003-2004.

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

Section 1. Short title and construction.

(a) Short title.--This act shall be known and may be cited as the Capital Budget Act of 2003-2004.

(b) Supplements.--A reference to this act shall be deemed to include a reference to the supplements to this act.

(c) Capital Facilities Debt Enabling Act.--The provisions and definitions of Chapter 3 of the act of February 9, 1999 (P.L.1, No.1), known as the Capital Facilities Debt Enabling Act, shall apply to this act to the extent they are not inconsistent with this act.

Section 2. Overall limitations on debt to be incurred for capital projects.

The maximum principal amount of additional debt to be incurred during the 2003-2004 fiscal year, and thereafter until the enactment of the 2004-2005 capital budget specifying the maximum debt for the 2004-2005 fiscal year, for capital projects specifically itemized in a capital budget pursuant to section 7(a)(4) of Article VIII of the Constitution of Pennsylvania and the fund to be charged with the repayment of such debt shall, with respect to each category of capital projects, be as follows:

Section 3. Effective date.

This act shall take effect immediately.