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.

Summary

The bill revises the definition of a "redevelopment assistance capital project" to set new eligibility criteria, including cost, financing and regional impact requirements. It also repeals the portion of the law that limited how much of the appropriation could be used for housing units. The changes affect developers, hospitals, local governments and other entities seeking state‑backed financing for eligible projects.

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