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State Infrastructure Bank requests $1.3M to cover Act 37 shortfall; highlights $2B in active projects
Summary
Charles Cannon, COO of the State Infrastructure Bank, briefed the subcommittee on May 20 and requested $1.3 million to make the bank whole after a decline in registration-fee revenue tied to Act 37 (2021). He said the bank has about $2 billion in active projects and $7.1 billion provided since 1997.
Charles Cannon, chief operating officer of the State Infrastructure Bank, told the Senate Finance transportation subcommittee the bank seeks a $1.3 million nonrecurring appropriation to cover a shortfall caused by changes in registration-fee timing under Act 37 (2021).
"Act 37 in 2021...left us with a deficit of nearly $3,000,000...Last year, ...$1.6 million of that was added into H2 and passed by both the House…
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