SB 802 — An Act amending the act of April 9, 1929 (P.L.343, No.176), known as The Fiscal Code, establishing the Redevelopment Authority Startup Loan Program and the Redevelopment Authority Startup Fund.

PRIOR PRINTER'S NO.

916 THEPRINTER'S GENERALNO. ASSEMBLY OF PENNSYLVANIA SENATE BILL Session of No.

802937 2023THE INTRODUCEDGENERAL BYASSEMBLY FARRYOF ANDPENNSYLVANIA PENNYCUICK,SENATE JUNEBILL 19,Session 2023 REFERRED TO URBAN AFFAIRS AND HOUSING, JUNE 19, 2023 AN ACT Amending the act of AprilNo. 9, 1929 (P.L.343, No.176), entitled "An act relating to the finances of the State government;

ambulatory802 surgical2023 centerINTRODUCED dataBY collection,FARRY, forPENNYCUICK theAND JointrSAVAL, UnderwritingJUNE Association,19, for2023 entertainmentSENATOR businessFARRY, financialURBAN managementAFFAIRS firms,AND forHOUSING, privateAS damAMENDED, financialJUNE assurance21, and2023 forAN reinstatementACT Amending the act of itemApril vetoes;9, 1929 (P.L.343, No.176), entitled "An act relating to the finances of the State government;

providing for thecancer settlement,control, assessment,prevention collection, and lienresearch, offor taxes,ambulatory bonus,surgical andcenter alldata othercollection, accountsfor due the Commonwealth,Joint theUnderwriting collectionAssociation, andfor recoveryentertainment ofbusiness feesfinancial andmanagement otherfirms, moneyfor orprivate propertydam duefinancial orassurance belonging to the Commonwealth, or any agency thereof, including escheated property and thefor proceedsreinstatement of itsitem sale,vetoes; the custody and disbursement or other disposition of funds and securities belonging to or in the possession of the Commonwealth, and the settlement of claims against the Commonwealth, the resettlement of accounts and appeals to the courts, refunds of moneys erroneously paid to the Commonwealth, auditing the accounts of the Commonwealth and all agencies thereof, of all public officers collecting moneys payable to the Commonwealth, or any agency thereof, and all receipts of appropriations from the Commonwealth, authorizing the Commonwealth to issue tax anticipation notes to defray current expenses, implementing the provisions of section 7(a) of Article VIII of the Constitution of Pennsylvania authorizing and restricting the incurring of certain debt and imposing penalties;

affectingproviding everyfor department,the board,settlement, commission,assessment, collection, and officerlien of taxes, bonus, and all other accounts due the StateCommonwealth, government,the everycollection politicaland subdivisionrecovery of fees and other money or property due or belonging to the State,Commonwealth, or any agency thereof, including escheated property and certainthe officersproceeds of suchits subdivisions,sale, everythe person,custody association,and disbursement or other disposition of funds Commonwealth, and corporationthe requiredsettlement of claims against thee Commonwealth, the resettlement of accounts and appeals to pay,the assess,courts, orrefunds collectof taxes,moneys orerroneously paid to makethe returnsCommonwealth, orauditing reportsthe underaccounts of the lawsCommonwealth imposingand taxesall foragencies Statethereof, purposes,of orall topublic payofficers licensecollecting feesmoneys payable to the Commonwealth, or everyany Stateagency depositorythereof, and everyall debtorreceipts orof creditorappropriations offrom the Commonwealth,"Commonwealth, establishingauthorizing the RedevelopmentCommonwealth Authorityto Startupissue Loantax Programanticipation notes to defray current expenses, implementing the provisions of section 7(a) of Article VIII of the Constitution of Pennsylvania authorizing and restricting the Redevelopmentincurring Authorityof Startupcertain Fund.debt and imposing penalties;

affecting every department, board, commission, and officer of the State government, every political subdivision of the State, and certain officers of such subdivisions, every person, association, and corporation required to pay, assess, or collect taxes, or to make returns or reports under the laws imposing taxes for State purposes, or to pay license fees or other moneys to the Commonwealth, or any agency thereof, every State depository and every debtor or creditor of the Commonwealth," establishing the Redevelopment Authority Startup Loan Program and the Redevelopment Authority Startup Fund.

"Qualified redevelopment authority." A public body and body corporate and politic created and organized in accordance with the provisions of the act of May 24, 1945 (P.L.991, No.385), known as the Urban Redevelopment Law, and established AND <-- LOCATED in a qualified county.

20230SB0802PN0937 - 2 - (a) General rule.--A qualified redevelopment authority may 20230SB0802PN0916 - 2 - apply to the department for a startup loan as provided under this article.

(1) Provide a startup loan from the fund to at least one <-- county of each qualified county classification, if a county of that classification has applied and the county is in compliance with all requirements established by the department.

(1) PROVIDE A STARTUP LOAN FROM THE FUND TO ONE OR MORE <-- QUALIFIED REDEVELOPMENT AUTHORITIES IN ONE OR MORE QUALIFIED COUNTIES, IF THE QUALIFIED REDEVELOPMENT AUTHORITY OR AUTHORITIES IN THE QUALIFIED COUNTY OR COUNTIES HAVE APPLIED AND THE QUALIFIED COUNTY OR COUNTIES ARE IN COMPLIANCE WITH ALL REQUIREMENTS ESTABLISHED BY THE DEPARTMENT.

(2) GIVE PRIORITY TO A QUALIFIED REDEVELOPMENT AUTHORITY IN A QUALIFIED COUNTY WITH EXISTING MUNICIPAL BLIGHT 20230SB0802PN0937 - 3 - PROGRAMS, IF THE QUALIFIED REDEVELOPMENT AUTHORITY HAS APPLIED IN THAT QUALIFIED COUNTY.

(1) The purchase of a residential property or a commercial property.property BY A QUALIFIED REDEVELOPMENT AUTHORITY.

<-- (2) The cost of redevelopment OF A residential property <-- or a 20230SB0802PN0916 - 3 - commercial property purchased under paragraph (1) or owned by the qualified redevelopment authority.

(d) Repayment terms.--A startup loan shall be subject to the 20230SB0802PN0937 - 4 - following terms and conditions:

(3) The qualified redevelopment authority may be <-- required by the department to enter into a security agreement sufficient to protect the Commonwealth's interests in the startup loan.

(e)(3) DepositTHE ofDEPARTMENT repaymentMAY amounts.--TheREQUIRE amountTHE ofQUALIFIED principal<-- andREDEVELOPMENT interestAUTHORITY repaidTO byPROVIDE aCOLLATERAL qualifiedSUFFICIENT redevelopmentIN authorityTHE shallDEPARTMENT'S 20230SB0802PN0916DETERMINATION -TO 4PROTECT -THE beCOMMONWEALTH'S depositedINTEREST intoIN theTHE fund.STARTUP LOAN.

(e) Deposit of repayment amounts.--The amount of principal and interest repaid by a qualified redevelopment authority shall be deposited into the fund.

(c) Interfund transfer.--The State Treasurer shall transfer $10,000,000 from the General Fund to the Redevelopment Authority 20230SB0802PN0937 - 5 - Startup Fund.

(E) GUIDELINES.--THE DEPARTMENT MAY ISSUE GUIDELINES TO <-- IMPLEMENT THIS ARTICLE.

20230SB0802PN091620230SB0802PN0937 - 56 -