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.

SB 1407 amends Pennsylvania's Capital Facilities Debt Enabling Act to update the definition of "redevelopment assistance capital projects" for the purpose of issuing tax-exempt bonds. The bill clarifies that eligible projects must generate significant economic activity, involve substantial non-state funding, and include specific infrastructure like stormwater systems or hospital facilities while excluding general highways and waste disposal sites. Additionally, it allows fire trucks and firefighting equipment to qualify for assistance under certain cost conditions. This legislative change directly affects local governments and organizations seeking state-approved financing for redevelopment initiatives by establishing clearer criteria for what projects can receive funding.