2020 Pennsylvania Consolidated & Unconsolidated Statutes
Act 25 - CAPITAL BUDGET ACT OF 2019-2020 - ENACTMENT
An Act
Providing for the capital budget for the fiscal year 2019-2020 and for limitation on redevelopment assistance capital projects; and making a related repeal.
The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows:
Section 1. Short title.
This act shall be known and may be cited as the Capital Budget Act of 2019-2020.
Section 2. Overall limitations on debt to be incurred for capital projects.
The maximum principal amount of additional debt to be incurred during the 2019-2020 fiscal year, and thereafter until the enactment of the 2020-2021 capital budget specifying the maximum debt for the 2020-2021 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:
|
Category |
Amount |
Fund |
|
(1) Public Improvement Projects: |
|
|
|
(i) Buildings and structures
|
$550,000,000
|
General Fund or Special Fund as applicable |
|
(2) Furniture and equipment
|
10,000,000 |
General Fund or Special Fund as applicable |
|
(3) Transportation assistance projects |
175,000,000 |
General Fund |
|
(4) Redevelopment assistance projects |
275,000,000 |
General Fund |
|
(5) Flood control projects |
0 |
General Fund |
|
Total |
$1,010,000,000 |
|
Section 2.1. Limitation on redevelopment assistance capital projects.
The following limitations shall apply to redevelopment assistance capital projects:
(1) Subject to adjustment under paragraph (2), the maximum amount of redevelopment assistance capital projects undertaken by the Commonwealth for which obligations are outstanding shall not exceed, in aggregate, $3,350,000,000.
(2) Beginning July 1, 2018, and each July 1 thereafter until the sum of the outstanding obligations for redevelopment assistance capital projects equals $3,100,000,000 or July 1, 2022, whichever occurs first, the sum of the maximum amount of outstanding obligations for redevelopment assistance projects shall be decreased by $50,000,000.
Section 2.2. Repeals are as follows:
(1) The General Assembly declares that the repeal under paragraph (2) is necessary to effectuate the addition of section 2.1.
(2) Section 317(b) of the act of February 9, 1999 (P.L.1, No.1), known as the Capital Facilities Debt Enabling Act, is repealed.
Section 3. Effective date.
This act shall take effect July 1, 2020, or immediately, whichever is later.
