act-2023-0-28•Pennsylvania Act 2023-28 — CAPITAL BUDGET ACT OF 2023-2024 - ENACTMENT
Pennsylvania Act 2023-28 — CAPITAL BUDGET ACT OF 2023-2024 - ENACTMENT
act-2023-0-282023 Pa. Act 28Law
Act text
| CAPITAL BUDGET ACT OF 2023-2024 - ENACTMENT | ||
|---|---|---|
| Act of Nov. 13, 2023, P.L. 172, No. 28 | Cl. 86 |
An Act
Providing for the capital budget for fiscal year 2023-2024.
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 2023-2024.
Section 2. Overall limitations on debt to be incurred for capital projects.
The maximum principal amount of additional debt to be incurred during the 2023-2024 fiscal year, and thereafter until the enactment of the 2024-2025 capital budget specifying the maximum debt for the 2024-2025 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 | $600,000,000 | 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 | 350,000,000 | General Fund |
| (4) Redevelopment assistance projects | 375,000,000 | General Fund |
| (5) Flood control projects | 0 | General Fund |
| Total | $1,335,000,000 |
Section 3. Effective date.
This act shall take effect July 1, 2023, or immediately, whichever is later.
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