HB 2367
An Act amending the act of February 9, 1999 (P.L.1, No.1), known as the Capital Facilities Debt Enabling Act, in capital facilities, further providing for definitions and repealing provisions relating to appropriation for and limitation on redevelopment assistance capital projects.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill amends Pennsylvania’s Capital Facilities Debt Enabling Act to clarify the definition of ‘redevelopment assistance capital projects.’ Specifically, it expands the types of projects considered eligible, including storm water infrastructure associated with economic development, hospital facilities, and housing projects that support economic activity. The bill also removes a previous limitation on the amount of funds that could be used for housing construction under this program.
Key provisions
- Revised definition of ‘redevelopment assistance capital project’ to include specific infrastructure and housing projects.
- Clarification that projects do not include highways, bridges, waste disposal facilities, sewage facilities, or water facilities.
- Requirement that projects generate substantial increases in employment, tax revenues, or economic activity.
- Mandate for at least 50% non-State financial participation, including secured funding and land/fixed assets.
- Minimum project cost of $1,000,000.
- Projects must be eligible for tax-exempt bond funding.
- Removal of a previous funding limitation for housing units.
Who is affected
- Local governments
- Developers
- Housing providers
- Economic development organizations
- Pennsylvania residents
Notable changes
- Expands the definition of eligible ‘redevelopment assistance capital projects’ to include a broader range of infrastructure and housing initiatives.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
Benjamin Sanchez
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