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| THE GENERAL ASSEMBLY OF PENNSYLVANIA |
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| SENATE BILL |
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| INTRODUCED BY WOZNIAK, STOUT, O'PAKE, STACK, COSTA AND BOSCOLA, FEBRUARY 19, 2009 |
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| REFERRED TO COMMUNITY, ECONOMIC AND RECREATIONAL DEVELOPMENT, FEBRUARY 19, 2009 |
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| AN ACT |
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1 | Amending Title 64 (Public Authorities and Quasi-Public |
2 | Corporations) of the Pennsylvania Consolidated Statutes, |
3 | further providing for indebtedness. |
4 | The General Assembly of the Commonwealth of Pennsylvania |
5 | hereby enacts as follows: |
6 | Section 1. Section 1543(b)(1) and (c)(4) of Title 64 of the |
7 | Pennsylvania Consolidated Statutes are amended to read: |
8 | § 1543. Indebtedness. |
9 | * * * |
10 | (b) Program limitations.--Indebtedness incurred by the |
11 | authority under subsection (a) shall not, in aggregate, exceed |
12 | any of the following: |
13 | (1) [$300,000,000] $400,000,000 for the program |
14 | established in section 1551 (relating to Business in Our |
15 | Sites Program). |
16 | * * * |
17 | (c) Fiscal year limitations.-- |
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1 | * * * |
2 | (4) Except as provided in subsection (d) and upon |
3 | adoption of a resolution under subsection (f)(3), the |
4 | aggregate amount of indebtedness incurred by the authority, |
5 | including through the issuance of bonds, may not exceed |
6 | [$1,000,000,000] $1,100,000,000 reduced by the aggregate |
7 | amount of Commonwealth indebtedness incurred under 12 Pa.C.S. |
8 | Ch. 39. |
9 | * * * |
10 | Section 2. This act shall take effect in 60 days. |
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