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.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill amends the Capital Facilities Debt Enabling Act to clarify the definition of ‘redevelopment assistance capital project.’ Specifically, it expands the types of projects eligible for funding, including hospital facilities, stormwater infrastructure associated with economic development projects, and housing projects that support economic activity. It also adds a provision allowing for funding of fire trucks and firefighting equipment up to $150,000, provided the total purchase cost is at least $300,000.
Key provisions
- Expands eligible projects to include hospital facilities and capital improvements for hospitals.
- Includes stormwater, water, and sewer infrastructure associated with economic development projects.
- Adds housing projects that support economic activity as eligible projects.
- Allows for tax-exempt bond funding for projects meeting specific criteria.
- Requires at least 50% non-State financial participation for projects.
- Sets a minimum project cost of $1,000,000.
- Specifically allows for funding of fire trucks and firefighting equipment up to $150,000.
- Establishes a minimum purchase cost of $300,000 for fire trucks and equipment.
Who is affected
- Local governments
- Healthcare providers
- Economic development organizations
- Housing developers
- Fire departments
Notable changes
Bill text
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Document of record
- Version
- Pn 1858 Html
- Published
- Not published in the source record
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Sponsors
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6 on record
Primary sponsor
Cosponsors
Lynda Schlegel Culver
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