64 Pa.C.S. § 6013 — PA Code / Title 64 / Chapter 60 / Section 6013
Capital and operating budgets.
Status: in_force

(a) Capital budget.--At least 90 days before the commencing of the ensuing fiscal year of the authority, the board shall cause to be prepared and submitted to it a recommended capital budget. The capital budget shall show in detail the capital expenditures to be made or incurred in the next fiscal year which are to be financed from funds subject to control or appropriation by the board. The capital budget shall be prepared with the aid of the Secretary of the Budget and the chief financial officer of the city and shall be in a form and detail satisfactory to them. In the event that the capital budget is not in a form and detail satisfactory to either the Secretary of the Budget or the chief financial officer of the city, either official may require that the capital budget be redrafted and resubmitted. The official shall not be considered to be in receipt of the capital budget or any amendments to the capital budget unless the form and detail is to the officer's satisfaction. For each separate purpose, project, facility or other property, the amount and the source of the money which has been spent, encumbered or is intended to be spent or encumbered during the fiscal year shall be shown. No later than the date of the adoption of the annual operating budget, the board shall adopt a capital budget by a majority vote of its members.

(b) Operating budget.--At least 90 days before the commencing of the ensuing fiscal year of the authority, the board shall cause to be prepared and submitted to it a recommended operating budget. The operating budget shall be prepared with the aid of the chief financial officer of the city and shall be in form and detail satisfactory to him. In the event that the operating budget is not in a form and detail satisfactory to the chief financial officer of the city, the officer may require that the operating budget be redrafted and resubmitted. The chief financial officer shall not be considered to be in receipt of the operating budget or any amendments to the operating budget unless the form and detail is to the officer's satisfaction. The operating budget should set forth the estimated receipts and revenue of the authority during the next fiscal year. The board shall, at least 30 days before the end of the fiscal year, adopt, by a majority vote of its members, an operating budget for the next fiscal year.

(c) Additional approvals or disapprovals.--If the Secretary of the Budget or the chief financial officer of the city in

which the convention center is located are among the members appointed to the board of the authority or if they sit as ex officio members of the board, each shall have the right to approve or disapprove each line item of the capital budget of the authority and any amendments to it as well as all change orders. In addition, the chief financial officer of the city shall have the right to approve or disapprove the total amount of the operating budget of the authority and any amendments increasing the aggregate amount. In the case of both the capital and operating budgets and change orders of the authority, approval shall be presumed unless the chief financial officer of the city has disapproved the entire operating budget or relevant amendments to it or either the chief financial officer of the city or the Secretary of the Budget has disapproved all or part of the capital budget of the authority or amendments to it or change orders within 30 days of the receipt of the respective budgets, amendments to the respective budgets or change orders. The Secretary of the Budget or the chief financial officer of the city may establish a threshold level below which the officers will not exercise their right to disapprove change orders and may identify categories or types of change orders for which they will not exercise that right.

(d) Project design.--Notwithstanding any other provisions of this chapter to the contrary, the design for any capital project undertaken by the authority shall be submitted to the Secretary of the Budget and the chief financial officer of the city for approval. No capital project may be undertaken by the authority unless the schematic design and the preliminary design development documents have been approved by the Secretary of the Budget and the chief financial officer of the city. The design and construction of any capital project for the convention center may be divided into stages or phases for which schematic design and preliminary design development documents may be approved separately by the Secretary of the Budget and the chief financial officer of the city and which may be undertaken by the authority as if each stage or phase was a separate capital project. In the case of the schematic design and preliminary design development documents for any capital project or any stage or phase of a capital project, approval shall be presumed unless the Secretary of the Budget or the chief financial officer of the city has disapproved the design and expressly set forth his objections to the documents within 45 days of the receipt of the documents. Further design approval shall not be required provided the construction documents are consistent with the design set forth in the schematic and preliminary design development documents.

(e) Onsite inspectors.--The Secretary of the Budget may appoint and designate an inspector or inspectors who shall have complete authority to inspect any and all aspects of the construction of any capital project undertaken by the authority. Any inspection shall be made during normal business hours and shall be conducted in such a manner as to not disrupt the work of constructing the convention center and shall be made solely for the purpose of observing the construction of the project. The inspectors shall report to the Secretary of the Budget for the purpose of assisting the secretary in carrying out his duties and responsibilities as provided by this section.
64 Pa.C.S. § 6016 — PA Code / Title 64 / Chapter 60 / Section 6016
Award of contracts.
Status: in_force

(a) Lowest responsible bidder.--All construction, reconstruction, repairs or work of any nature made by the authority where the entire cost, value or amount of construction, reconstruction, repairs or work, including labor and materials, shall exceed $25,000, except construction, reconstruction, repairs or work done by employees of the authority or by labor supplied under agreement with any Federal agency, State public body, political subdivision or city with supplies and materials purchased as provided in this chapter, shall be done only under contract or contracts to be entered

into by the authority with the lowest responsible bidder upon proper terms, after due public notice has been given asking for competitive bids as provided in this chapter, but the authority shall have the right to reject any or all bids or select a single item from any bid. No contract shall be entered into for construction or improvement or repair of any project or portion of a project unless the contractor shall provide sufficient surety or sureties approved by the authority, and in an amount fixed by the authority, for the performance of the contract. All contracts shall provide, among other things, that the person or corporation entering into the contract with the authority will pay for all materials furnished and services rendered for the performance of the contract and that any person or corporation furnishing materials or rendering services may maintain an action to recover for the same against the obligor in the undertaking as though the person or corporation was named in the undertaking, provided the action is brought within one year after the time the cause of action accrued. Nothing in this section shall be construed to limit the power of the authority to construct, repair or improve any project or portion of a project or any addition, betterment or extension to a project, directly by the officers and employees of the authority. Whether the costs of the project are being paid for in whole or in part with funds provided under section 6015 (relating to transfer of existing facilities or funds; making of annual grants and lease payments to authority; Commonwealth bonds), the authority may award the construction, expansion or substantial renovation of a convention center as a single bid project without regard to the provisions of the act of May 1, 1913 (P.L.155, No.104), entitled "An act regulating the letting of certain contracts for the erection, construction, and alteration of public buildings," and shall not be subject to 62 Pa.C.S. (relating to procurement). Nothing in this section or any other law of this Commonwealth shall require the authority to competitively bid architectural design, engineering, construction management or other professional services required by the authority.

(b) Supplies and materials.--All supplies and materials costing $25,000 or more to be acquired directly by the authority shall be purchased only after due advertisement as provided in this chapter. The authority shall accept the lowest bid or bids from a responsible bidder, kind, quality and material being equal, but the authority shall have the right to reject any or all bids or select a single item from any bid. The provisions as to bidding shall not apply to the purchase of unique supplies and materials or supplies and materials which cannot be obtained in the open market.

(c) Management prerogatives.--Nothing in this section or in any other law of the Commonwealth shall preclude the board, with the approval of eight members of the board, from negotiating contracts for management, operation, concession services, licensing or leasing of a convention center or any part of a convention center. The authority shall not award any contract to any manager, operator, concessionaire, licensee, lessee or lessor that exceeds three years in duration unless eight members of the board approve the awarding of a contract for a greater period of time.

(d) Application of city ordinances.--The authority, its contractors, subcontractors, assignees, lessees, agents, vendors and suppliers shall not be subject to any city laws, ordinances, rules or regulations relating to any limits or preferences with

regard to employment, contracting or procurement in the construction and operation of the convention center.

(e) Steel products.--The authority shall be subject to the act of March 3, 1978 (P.L.6, No.3), known as the Steel Products Procurement Act, and 62 Pa.C.S. Ch. 37 Subch. B (relating to motor vehicles).

(f) Waiver of notice.--Public notice under this section may be waived if the authority determines an emergency exists and the supplies and materials must be purchased immediately by the authority.

(g) Definitions.--As used in this section, the term "advertisement" or "public notice" means a notice published at least ten days before the award of any contract in a newspaper of general circulation published in the city.
64 Pa.C.S. § 3 — PA Code / Title 64 / Chapter 3 / Section 3
Department of Community and Economic Development reports.
Status: in_force

The Department of Community and Economic Development shall provide annually, as determined beginning one year from the effective date of this act, to the Majority Leader of the Senate, the Minority Leader of the Senate, the Majority Leader of the House of Representatives and the Minority Leader of the House of Representatives, a written report stating the impact and number of loans originated, purchased, held and assigned by the farm credit lender or other commercial lender during the corresponding most recent one-year period. The report shall be posted on the department's Internet website. Explanatory Note. Act 125 amended sections 1504 and 1552 of Title 64.
64 Pa.C.S. § 6018 — PA Code / Title 64 / Chapter 60 / Section 6018
Sovereign immunity.
Status: in_force

It is declared to be the intent of the General Assembly that the authority created pursuant to this chapter and its members, officers, officials and employees shall enjoy sovereign and official immunity as provided in 1 Pa.C.S. § 2310 (relating to sovereign immunity reaffirmed; specific waiver) and shall remain immune from suit except as provided by and subject to the provisions of 42 Pa.C.S. Ch. 85 Subch. B (relating to actions against Commonwealth parties). Notwithstanding the provisions of 42 Pa.C.S. § 8525 (relating to legal assistance), the authority through its counsel shall defend actions brought against the authority and its officers and employees when acting within the scope of their official duties.
64 Pa.C.S. § 1552.1 — PA Code / Title 64 / Chapter 15 / Section 1552.1
Dairy Investment Program.
Status: in_force

(a) Establishment.--There is established a program to be known as the Dairy Investment Program. The program shall provide financial assistance in the form of grants for projects located within this Commonwealth that support the dairy industry.

(b) Eligible applicants.--The following entities may apply for grants:

(1) A corporation, partnership, sole proprietorship, limited liability company, cooperative or any other commercial entity approved by the authority.

(2) A private not-for-profit entity undertaking agriculture-related activities that support the dairy industry.

(3) A public school, private school or charter school.

(4) An accredited university, college, seminary college, community college or two-year college.

(c) Eligible projects.--The following types of projects shall be eligible for grants:

(1) Research and development projects that involve any of the following:

(i) Identifying new food or beverage products using milk or milk components.

(ii) Identifying pharmaceutical or industrial uses for milk or milk components.

(iii) Extending the shelf life of milk and dairy products.

(iv) Developing production and processing methods that reduce the risk of foodborne illnesses in Grade A or Grade B milk and dairy products.

(v) Developing new technologies allowing producers, processors and distributors to provide consumers with transparent, verifiable information on milk and dairy products.

(vi) Developing specialized equipment for use in organic production, value-added processing or marketing of milk and dairy products.

(vii) Researching, developing and distributing best management practices to enhance the workforce skills in milk and dairy production and processing.

(viii) Developing specialized or innovative packaging for milk and dairy products that enhances the flavor or appearance of the products or reduces the risk of foodborne illnesses.

(2) Transitioning to certified organic production projects, processing projects and distribution projects that involve any of the following:

(i) Defraying costs of a third-party certification audit conducted by an auditor accredited by the United States Department of Agriculture.

(ii) Defraying costs of technical assistance to producers or processors developing or implementing organic system plans for milk or feed grains.

(iii) Defraying costs associated with the design of product labeling to feature the United States Department of Agriculture certified organic seal.

(iv) Developing signage or other tools by which a producer transitioning to organic production methods can provide notice to other producers, municipal employees or the public of the application of pesticides near property boundaries.

(v) Defraying costs of specialized equipment for organic processing.

(3) Value-added processing projects involving any of the following:

(i) A third-party feasibility analysis of the economic, market, technical, financial and management capabilities of a proposed project or project site.

(ii) Additional costs relating to food safety licensing or certification incurred as the result of a new or expanded value-added dairy facility.

(iii) Capital costs to construct a new value-added dairy facility or expand an existing value-added dairy facility.

(iv) Costs incurred as a result of a new value-added dairy facility or expanded value-added dairy facility relating to any of the following:

(A) Site selection and development, permitting or zoning.

(B) Compliance with Federal or State laws or regulations or municipal ordinances.

(4) Marketing projects that involve any of the following:

(i) Domestic or international market research and demonstration programs for milk and dairy products.

(ii) Defraying costs of technical assistance in creating or expanding a cooperative or other shared marketing arrangement, including mid-tier value chains.

(iii) Regional or local branding efforts serving more than one producer or processor and complementing the PA Preferred® program.

(iv) Paid media advertising that intentionally segments the marketplace and identifies a target audience to influence consumer buying habits and behavior in favor of milk.

(v) Developing on-farm tourism opportunities as a potential source of additional revenue for a producer.

(vi) Distribution of specialized packaging for milk and dairy products that enhance the flavor or appearance of the products or reduce the risk of foodborne illnesses.

(vii) Promotional campaigns, including the pairing of milk and dairy products with other Pennsylvania-produced foods and beverages.

(d) Additional projects.--The authority may consider additional types of projects for grants, as well as other grant award amounts for projects, that the authority, in consultation with the Department of Agriculture, determines will effectuate the intent of the program.

(e) Applications for grants.--

(1) An applicant may submit an application to the authority requesting a grant in an amount not to exceed the amount under subsection (g) for the type of project eligible under subsection (c). The application shall be on a form required by the board and shall include all of the following information:

(i) The applicant's name and address.

(ii) The location of the project.

(iii) A description of the project.

(iv) An estimate of the costs associated with the project and the goal to be achieved by carrying out the proposed activities of the project.

(v) Any other information required by the authority.

(2) A $100 nonrefundable application fee made payable to the authority shall accompany each application.

(f) Review and approval of applications.--

(1) The authority shall, in consultation with the Department of Agriculture, review an application and evaluate the application based on the following criteria:

(i) Whether the project incorporates at least 75% Pennsylvania-sourced milk.

(ii) The extent to which matching funds are used or leveraged.

(iii) Whether the project can be replicated for use across this Commonwealth.

(iv) Whether the project includes a strategic plan for implementation.

(v) The inclusion of an itemized budget of all costs.

(2) The authority may develop additional evaluation criteria for each type of eligible project under subsection

(c).

(3) Grants shall be awarded to the extent funds are available.

(g) Grant awards.--Grant awards shall be as follows:

(1) For grants under subsection (c)(1), an amount not to exceed $100,000.

(2) For grants under subsection (c)(2), an amount not to exceed $50,000.

(3) For grants under subsection (c)(3), an amount not to exceed:

(i) Fifty thousand dollars for an on-farm or single producer project.

(ii) Five hundred thousand dollars for a cooperative, processing plant or multi-producer project.

(4) For grants under subsection (c)(4), an amount not to exceed $100,000.

(h) Requirements.--

(1) The requirements for the administration of the program shall be as follows:

(i) A project shall require a 15% cash match of the total project cost.

(ii) An application for a grant under this section must be received by a deadline to be established by the authority.

(iii) The authority shall execute a grant agreement between the board and a successful applicant before the payment of a grant award.

(iv) A successful applicant shall maintain full and accurate records for the project.

(v) A successful applicant shall submit to the authority copies of all canceled checks or other records verifying expenditures of grant proceeds.

(vi) A successful applicant shall submit to the authority a final report of the project, including any information as required by the board.

(2) The authority may establish additional requirements for the program as the authority deems necessary to administer the program.

(i) Restrictions and limitations.--

(1) Administration costs for a project shall not exceed 2% of a total grant award.

(2) An applicant may not commence work on a project before receiving authority approval of the project grant. Commencement of work prior to receiving authority approval will result in a project application being ineligible for funding consideration.

(3) A successful applicant may not make a substantial change to an approved project without first obtaining authority consent in writing.

(4) Any unused portion of a grant award shall be returned to the authority.

(5) Grant awards may only be used for new projects approved by the board.

(6) Grant awards may not be used for any of the following:

(i) Paying fees for securing financing.

(ii) Paying interest on borrowed funds.

(iii) Refinancing existing debt.

(iv) Paying for lobbying services.

(v) Paying fines.

(vi) Application preparation fees.

(7) The authority may establish additional restrictions and limitations as the authority deems necessary to administer the program.

(j) Account.--The authority shall establish the Dairy Investment Program Account. Any funds appropriated to the Dairy

Investment Program shall be deposited into the Dairy Investment Program Account for use in awarding grants under this section.

(k) Transfers.--Funds in the First Industries Program Account may be transferred to the Dairy Investment Program Account as determined by the General Assembly.

(l) Definitions.--As used in this section, the following words and phrases shall have the meanings given to them in this subsection unless the context clearly indicates otherwise:

"Cooperative." A for-profit or not-for-profit corporation formed under 15 Pa.C.S. Pt. II Subpt. D (relating to cooperative corporations) that is owned and governed by individuals who use the corporation's goods and services and share any profits of the corporation.

"Dairy product." A food or nonfood product made from milk and other ingredients.

"Mid-tier value chain." Local and regional supply networks that link independent producers with businesses, cooperatives or consumers that market a value-added dairy product in a manner that enhances the profitability of dairy farms.

"Milk." A fluid secreted by the mammary glands of cows, sheep and goats for human consumption and use and classified as Grade A or Grade B with a current permit from the Department of Agriculture.

"Organic." A farm or processing operation that in whole or in part has been certified as organic or in transition to organic by a third party accredited by the United States Department of Agriculture. The term includes the production and processing of milk and dairy products and the production of certified organic feed grains for certified organic dairy animals.

"Processor." An entity that pasteurizes or bottles milk for sale or transforms milk into a value-added dairy product.

"Producer." A person, group or other entity that:

(1) owns or operates a farm in this Commonwealth that is not less than 10 contiguous acres where the production of milk occurs; and

(2) has an anticipated yearly gross income of at least $10,000.

"Value-added dairy." The process of transforming milk into a product of higher economic value in the marketplace for food use or nonfood use. (July 1, 2019, P.L.270, No.38, eff. imd.) 2019 Amendment. Act 38 added section 1552.1.
64 Pa.C.S. § 1551 — PA Code / Title 64 / Chapter 15 / Section 1551
Business in Our Sites Program.
Status: in_force

(a) Establishment.--There is established a program to be known as the Business in Our Sites Program. The program shall provide financial assistance for the preparation of sites located within this Commonwealth for future development.

(b) Applications for planning grants.--A municipality, municipal authority, redevelopment authority or industrial development agency may submit an application to the authority requesting a planning grant for costs associated with predevelopment activities and feasibility studies for a project. The application shall be on the form required by the board and shall include or demonstrate all of the following:

(1) The applicant's name and address.

(2) The location of the project.

(3) A statement that the project is consistent with any existing comprehensive county plan where the project is located.

(4) A description of the project which includes a statement that:

(i) the project is for the redevelopment, reuse or revitalization of previously developed land, including previously mined areas; or

(ii) the project is for the development of undeveloped land which may be the subject of future

development pursuant to any existing comprehensive municipal plan.

(5) An estimate of the cost of the predevelopment activities and feasibility studies.

(6) A statement of the amount of the planning grant sought.

(7) Any other information required by the board.

(c) Review and approval of planning grant applications.--

(1) The board shall review the application. Upon being satisfied that all requirements have been met, the board may approve the application and, if approved, the authority shall award a planning grant.

(2) Copies of all reports and studies prepared with planning grant funds shall be filed with the authority and shall be made available to any person upon request.

(d) Applications for project financing.--A municipality, municipal authority, redevelopment authority or industrial development agency may submit an application to the authority requesting a loan or a combination of a loan and project grant for a project. A private developer may submit an application to the board requesting a loan for a project. The application shall be on the form required by the board and shall include or demonstrate all of the following:

(1) The applicant's name and address.

(2) The location of the project.

(3) A statement that the project is consistent with any existing comprehensive county plan where the project is located.

(4) A description of the project which includes a statement that:

(i) the project is for the redevelopment, reuse or revitalization of previously developed land, including previously mined areas; or

(ii) the project is for the development of undeveloped land which may be the subject of future development pursuant to any existing comprehensive municipal plan and is zoned for such development at the time of application.

(5) An estimate of the cost of the project, prepared by an engineer or other qualified professional.

(6) A statement of the amount of the loan or combined loan and project grant sought. If the applicant is requesting a project grant, a statement as to the financial necessity for the project grant must be included.

(7) Proof that notification of the project has been sent to the governing bodies of the county or counties and of the municipality or municipalities in which the project is located.

(8) Any other information required by the board.

(e) Review of project financing applications.--The board shall review the application to determine all of the following:

(1) That the project is consistent with any existing comprehensive county plan where the project is located.

(2) That the project is the redevelopment, reuse or revitalization of previously developed land, including previously mined areas, or that the project is the development of undeveloped land which may be the subject of future development pursuant to any existing comprehensive municipal plan and is zoned for such development at the time of application.

(3) That the value of the proposed collateral and the financial resources offered by the applicant are sufficient to repay the loan.

(4) That there is a substantial likelihood the land or buildings will be used upon project completion.

(5) That the project will enable future employment opportunities in or have a net positive economic impact on the surrounding community.

(6) That the statement of the estimated cost of the project is reasonable.

(7) That the applicant complied with all other criteria established by the board.

(f) Approval of project financing applications.--Upon being satisfied that all requirements have been met, the board may approve the application, and, if approved, the authority shall award a loan or a combination of a loan and project grant to be used for costs of the project. A combined loan and project grant may be awarded only if the board finds that the value of the proposed collateral and the financial resources offered by the applicant are not sufficient to repay a loan in the amount of the total project cost.

(g) Limitations.--

(1) A planning grant awarded for a project under section

(c) shall not exceed $250,000. No more than $10,000,000 of the funds made available for the program authorized by this section may be used for planning grants.

(2) (Repealed).

(3) No more than 15% of the funds made available for the program authorized by this section may be awarded for projects located within any one city, town, borough or township of this Commonwealth.

(4) The anticipated use of the land or buildings may not be primarily residential or primarily recreational.

(5) A project grant may be used only for one or more of the following purposes:

(i) Environmental assessment and remediation.

(ii) Site preparation, including earth moving activities.

(iii) Demolition of structures.

(iv) Installation or rehabilitation of infrastructure.

(v) Reimbursement of engineering and administrative expenses associated with any of the activities listed in subparagraphs (i) through (iv). (July 13, 2016, P.L.664, No.85, eff. imd.) 2016 Repeal. Act 85 repealed subsec. (g)(2). Cross References. Section 1551 is referred to in sections 1542, 1543 of this title.
64 Pa.C.S. § 1522 — PA Code / Title 64 / Chapter 15 / Section 1522
Commonwealth taxation.
Status: in_force

(a) General.--The effectuation of the purposes of the authority is for the benefit of the people of this Commonwealth, for the increase of commerce and prosperity and for the improvement of health, safety, welfare and living conditions.

(b) Authority.--Since the authority, as a public instrumentality of the Commonwealth, will be performing essential governmental functions in effectuating these purposes, the authority is not required to pay any taxes or assessments upon any property acquired or used or permitted to be used by the authority for its purposes.

(c) Bonds.--Bonds issued by the authority, the transfer and the income from the bonds, including profit made on their sale, are free from State and local taxation within this Commonwealth. The exclusion under this subsection shall not extend to gift,

estate, succession or inheritance taxes or any other taxes not levied directly on the bonds, their transfer, the income from the bonds or the realization of profits on their sale.
64 Pa.C.S. § 6124 — PA Code / Title 64 / Chapter 61 / Section 6124
Grant applications and process.
Status: in_force

(a) Application period.--The authority shall establish an application period during which applications for grants under section 6123 (relating to grant awards generally) may be submitted to the authority. The application period under this subsection shall be for a period of no less than 60 days and no longer than 120 days.

(b) Form and contents.--An application for a grant under section 6123 shall be submitted to the authority and shall include information required by Federal law or guidance and any other information required by the authority. The authority shall develop an application form and post and make the application form available on the authority's publicly accessible Internet website.

(c) Availability for review.--Within 10 business days after the expiration of the application period under subsection (a), the authority shall make the proposed unserved areas, underserved areas and the community anchor institutions available for review on the authority's publicly accessible Internet website.

(d) Overbuild challenges.--Before awarding grant funds for the development and deployment of broadband networks under section 6123, the authority shall ensure a transparent, evidence-based and expeditious challenge process under which an entity eligible to be an applicant may challenge a proposed project on the grounds that awarding a grant under section 6123 to the applicant will result in an overbuild. After resolving each challenge under this subsection, and not later than 60 days before awarding grant funds for the development and deployment of broadband networks under section 6123, the authority shall provide public notice of the final classification of each unserved area, underserved area and community anchor institution within the Commonwealth. If an entity eligible to be an applicant submits a challenge under this subsection, the challenge shall be in writing and on a form developed by the authority and shall include all of the following information:

(1) A declaration disputing the eligibility of the proposed project, including whether a particular location is in an unserved area or underserved area.

(2) An affidavit from the broadband service provider of the provider's existing or planned provision of high-speed broadband service within the proposed project area.

(e) Review.--In reviewing an application and any accompanying challenge under this section, the authority shall ensure that the grant award under section 6123 for the development and deployment of broadband networks is used to deploy high-speed broadband service to unserved or underserved areas as required by Federal law or guidance. The authority may not award a grant under section 6123 to fund deployment of high-speed broadband service for a project area that results in an overbuild.

(f) Infrastructure criteria.--The board shall award grants under section 6123 for proposed high-speed broadband service infrastructure projects based upon a scoring system, which shall be released to the public at least 30 days before the beginning of the application period under subsection (a). The authority shall consider all of the following criteria when weighing or scoring an application for a grant under section 6123:

(1) The size and scope of the unserved or underserved area to be deployed.

(2) The experience, technical ability and financial capability of the applicant to successfully deploy high-speed broadband service infrastructure and provide high-speed broadband service.

(3) The extent to which Federal, State or local government funding support is necessary to develop and deploy high-speed broadband service infrastructure in an economically feasible manner in the proposed project area.

(4) The proportion of the capital pledged by the applicant to finance the proposed high-speed broadband service infrastructure project under subsection (b).

(5) The high-speed broadband service speed thresholds proposed in the application and the scalability of the high-speed broadband service infrastructure proposed to be deployed to provide high-speed broadband service to households and businesses.

(6) An affidavit that no grant funding shall be used in such a manner as to result in an overbuild.

(7) An affidavit that an applicant shall ensure that a contractor or subcontractor performing construction, reconstruction, demolition, repair or maintenance work on a high-speed broadband service infrastructure project developed and deployed under this chapter meets all of the following requirements:

(i) Maintains all valid licenses, registrations or certificates required by the Federal Government, the Commonwealth or a local government entity that are necessary to do business or perform applicable work.

(ii) Maintains compliance with the act of June 2, 1915 (P.L.736, No.338), known as the Workers' Compensation Act, the act of December 5, 1936 (2nd Sp.Sess., 1937 P.L.2897, No.1), known as the Unemployment Compensation Law, and bonding and liability insurance requirements as specified in the contract for the project.

(iii) Has not defaulted on a project, declared bankruptcy, been debarred or suspended on a project by the Federal Government, the Commonwealth or a local government entity within the previous three years.

(iv) Has not been convicted of a misdemeanor or felony relating to the performance or operation of the business of the contractor or subcontractor within the previous 10 years.

(v) Has completed a minimum of the United States Occupational Safety and Health Administration's 10-hour safety training course or similar training sufficient to prepare workers for any hazards that may be encountered during their work on the high-speed broadband service infrastructure.

(8) Other factors which the authority determines to be reasonable and appropriate for the purposes of this chapter.

(f.1) Other project criteria.--The board shall award grants under section 6123 for all other projects based upon a scoring

system, which shall be released to the public at least 30 days before the beginning of the application period under subsection

(a). The authority shall determine the criteria when weighing or scoring an application for a grant under section 6123 based on Federal law or guidance and other factors which the authority determines to be reasonable and appropriate for the purposes of this chapter.

(g) Regulatory obligations.--In awarding grants under section 6123, the authority shall not consider any additional regulatory obligations, except as required under applicable Federal or State law.

(h) Time for project completion.--Applicants shall deploy the broadband network and begin providing service to each customer that desires service not later than four years after the date in which the applicant receives a grant unless otherwise extended by the authority and allowed by Federal law or guidance. Grant funds awarded to an applicant who fails to complete a proposed project within four years, unless otherwise extended by the authority, may be subject to refund or clawback by the authority. Cross References. Section 6124 is referred to in section 6102 of this title. APPENDIX TO TITLE 64 PUBLIC AUTHORITIES AND QUASI-PUBLIC CORPORATIONS ------- Supplementary Provisions of Amendatory Statutes ------- 2004, FEBRUARY 5, P.L.7, NO.3 § 3. Continuation of prior law. The following shall apply:

(1) The authority established under the former provisions of section 4 of the Pennsylvania Convention Center Authority Act, formerly codified at 53 Pa.C.S. § 5904, shall be deemed for all purposes to be the authority created and continued in 64 Pa.C.S. § 6004 and shall exercise those powers, functions and duties and be governed by the provisions applicable to the authority created under 64 Pa.C.S. § 6004. Nothing in 64 Pa.C.S. Ch. 60 shall be construed to alter or modify in any respect any contract, bond or other obligation of the authority entered into prior to the effective date of this chapter.

(2) The authority created or existing under 64 Pa.C.S. Ch. 60, including the authority established under the former provisions of section 4 of the Pennsylvania Convention Center Authority Act, formerly codified at 53 Pa.C.S. § 5904, shall, without the necessity of action or assignment by it or any other person:

(i) continue in the rights and responsibilities of the authority existing under the former provisions of the Pennsylvania Convention Center Authority Act, formerly codified at 53 Pa.C.S. Ch. 59, for all purposes, including, but not limited to, receipt of all grants, gifts, appropriations, subsidies or other payments;

(ii) continue to be the owner, lessor or lessee of any real or personal property and enjoy and be subject to any and all rights and responsibilities appurtenant thereto of the authority existing under the former provisions of the Pennsylvania Convention Center Authority Act, formerly codified at 53 Pa.C.S. Ch. 59, including, but not limited to, all assets, property, real and personal, tangible and intangible, all leases, easements and all evidences of ownership or other interest, in part or in whole, and all records and other evidences pertaining thereto; and

(iii) continue to be obligated with respect to all debt, labor agreements and all other contractual obligations of the authority existing under the former provisions of the Pennsylvania Convention Center Authority Act, formerly codified at 53 Pa.C.S. Ch. 59, which debt, labor agreements and other contractual obligations are hereby ratified and shall be valid, binding and enforceable under 64 Pa.C.S. Ch. 60.

(3) It is hereby declared to be the intent of the General Assembly that the authority created and continuing under 64 Pa.C.S. Ch. 60, including the authority established under the former provisions of section 4 of the Pennsylvania Convention Center Authority Act, formerly codified at 53 Pa.C.S. Ch. 59, and the members, officers, officials and employees of any of them, shall continue to enjoy sovereign and official immunity as provided in 1 Pa.C.S. § 2310 and shall remain immune from suit except as provided by and subject to the provision of 42 Pa.C.S. Ch. 85 Subch. B. Explanatory Note. Act 3 added Parts I and II of Title 64. § 4. Applicability of law. The following shall apply:

(1) The members of the governing board created and continued under 64 Pa.C.S. § 6004 appointed pursuant to the former provisions of 53 Pa.C.S. § 5911(a)(1) through (6) as of February 4, 2004, are hereby ratified and confirmed and shall be all of the following:

(i) Deemed to have been appointed under 64 Pa.C.S. § 6005(a).

(ii) Entitled to serve the terms of office prescribed by the former provisions of 53 Pa.C.S. Ch. 59.

(iii) Considered valid members of the board for all purposes.

(2) Nothing in this section shall be construed to increase the total number of appointments to the board which an appointing authority is entitled to make under 64 Pa.C.S. § 6005(a). § 6. Notice of availability of State funds. When State funds are made available to the Pennsylvania Convention Center Authority, the authority shall transmit a notice of the availability to the Legislative Reference Bureau for publication in the Pennsylvania Bulletin. 2004, APRIL 1, P.L.163, NO.22 § 3. Legislative findings and declarations.

The General Assembly finds and declares that authorized investments, loans and guarantees made under 64 Pa.C.S. Ch. 15, whereby the authority becomes a joint owner, member, limited partner or stockholder in, lender to or guarantor of obligations of a company, corporation, limited partnership, company, association or other lawful business organization, are outside the scope of the original intent of and do not violate the prohibition set forth in section 8 of Article VIII of the Constitution of Pennsylvania. Explanatory Note. Act 22 added Part II and renumbered Part II to Part III of Title 64.
64 Pa.C.S. § 6025 — PA Code / Title 64 / Chapter 60 / Section 6025
Hotel room rental tax; continuation of existing tax.
Status: in_force

(a) Imposition of tax.--The council of the city in which the convention center is located is authorized to impose or continue to impose an excise tax on the consideration received by each operator of a hotel within the city from each transaction of renting a room or rooms to accommodate transients. The tax shall be collected by the operator from the patron of the room and paid over to the city pursuant to subsection (e) and shall be known as the hotel room rental tax.

(b) Rate of tax.--

(1) The rate of tax imposed under this section by the council of the city in which the convention center is located shall not exceed 6%.

(2) The total rate of tax imposed pursuant to this section and section 202 of the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, shall not exceed 12%. In the event the rate of tax imposed pursuant to section 202 of the Tax Reform Code of 1971 exceeds 6% and the rate of tax imposed pursuant to this section has reached 6%, the rate of tax imposed pursuant to this section shall be reduced in order that the aggregate tax rate not exceed 12%.

(c) Distribution of tax revenue.--Tax revenues shall be annually deposited in a special fund established pursuant to subsection (d) for the use of tourist promotion agencies for tourist promotion agency activities in accordance with all of the following:

(1) Thirty-three and one-third percent of the revenue received pursuant to this section for the fiscal year of the city commencing on or after July 1, 1999, and each fiscal year thereafter ending prior to July 1, 2010.

(2) Twenty-nine and one hundred and sixty-six one thousandths percent of the revenue received pursuant to this section for the fiscal year of the city commencing on or after July 1, 2010, and each fiscal year thereafter ending prior to July 1, 2015.

(3) Twenty-five percent of the revenue received pursuant to this section for the fiscal year of the city commencing July 1, 2015, and thereafter. The balance of revenue to be received from taxes imposed pursuant to this section shall be deposited annually in a special fund established pursuant to subsection (d) for the use of the authority for convention center purposes.

(d) Deposit.--The tax collector of each city electing to impose the tax authorized under this section or the tax collector of each city imposing the tax on the effective date of this chapter as authorized under the former provisions of the act of June 27, 1986 (P.L.267, No.70), known as the Pennsylvania Convention Center Authority Act, formerly codified at 53 Pa.C.S. Ch. 59 (relating to Pennsylvania Convention Center Authority), is directed to collect the tax and to deposit the revenue received from the tax in special funds established for purposes set forth in this section. Interest on money deposited in the funds shall accrue proportionately to the respective funds as provided in this section. The tax collector is authorized to establish, maintain and amend already existing rules and regulations concerning the collection of the tax.

(e) Expenditures.--Expenditures from the funds established pursuant to subsection (d) for the tourist promotion agency shall be used by the designated tourist promotion agency for any of the following:

(1) Advertising and publicizing tourist attractions in the area served by the agency.

(2) Promoting and attracting conventions, exhibitions and other functions to utilize facilities in the area served by the agency.

(3) Promoting and otherwise encouraging the use of the facilities in the area served by the agency by the public as a whole.

(4) Costs associated with the development and operation of the convention center.

(f) Expenditures for convention center purposes.--Expenditures from a special fund established pursuant to subsection (d) for the authority shall be used by the authority for any of the following uses:

(1) Projected annual debt service or lease payments of the convention center authority.

(2) Costs associated with financing, constructing, improving, maintaining, furnishing, fixturing and equipping the convention center.

(3) Costs associated with the development of the convention center, including design, engineering and feasibility costs.

(4) Costs associated with the operation and management of the convention center.

(5) Costs associated with promoting, marketing and otherwise encouraging use of the convention center.

(6) General purposes of the convention center.

(g) Pledge to bondholders.--If and to the extent that the authority pledges its share of the proceeds of the tax authorized by this section as security for the payment of bonds issued by the authority for convention center purposes, the Commonwealth pledges to and agrees with any person, firm or corporation subscribing to or acquiring bonds to be issued by the authority for convention center purposes that the Commonwealth itself will not, except to the extent provided in subsection (b), authorize any city to reduce the rate of tax imposed for convention center purposes until all bonds secured by the pledge of the authority, together with the interest on the bonds, are fully met and discharged.

(h) Tax year.--Each tax year for any tax imposed hereunder shall run concurrently with the city's fiscal year.

(i) Continuation of current tax.--The former provisions of section 23 of the Pennsylvania Convention Center Authority Act, formerly codified at 53 Pa.C.S. Ch. 59, are continued by this chapter, and any tax imposition under the former provisions of section 23 of the Pennsylvania Convention Center Authority Act, formerly codified at 53 Pa.C.S. Ch. 59, is specifically continued and is not repealed or modified in any way by the enactment of this chapter.

(j) Definitions.--In addition to the definitions provided by section 6003 (relating to definitions), the following words and phrases when used in this section shall have the meanings given to them in this subsection unless the context clearly indicates otherwise:

"Consideration." Receipts, fees, charges, rentals, leases, cash, credits, property of any kind or nature, or other payment, received by operators in exchange for or in consideration of the use or occupancy by a transient of a room or rooms in a hotel for any temporary period.

"Hotel." As follows:

(1) Any hotel, motel, inn, guesthouse or other building located within the city which holds itself out by any means, including advertising, license, registration with any innkeeper's group, convention listing association, travel

publication or similar association or with any government agency, as being available to provide overnight lodging or use of facility space for consideration to individuals seeking temporary accommodation.

(2) Any place which advertises to the public at large or any segment of the public that it will provide beds, sanitary facilities or other space for a temporary period to members of the public at large.

(3) Any place recognized as a hostelry. The term does not include a portion of a facility which is devoted to individuals who have established permanent residence.

"Occupancy." The use or possession or the right to the use or possession by any person other than a permanent resident of any room in a hotel for any purpose or the right to the use or possession of the furnishings or to the services accompanying the use and possession of the room.

"Operator." Any individual, partnership, nonprofit or profit-making association or corporation or other person or group of persons that maintains, operates, manages, owns, has custody of or otherwise possesses the right to rent or lease overnight accommodations in a hotel to the public for consideration.

"Patron." A person that pays the consideration for the occupancy of a room or rooms in a hotel.

"Permanent resident." Any person who has occupied or has the right to occupy any room or rooms in a hotel as a patron or otherwise for a period exceeding 30 consecutive days.

"Room." A space in a hotel set aside for use and occupancy by patrons, or otherwise, for consideration, having at least one bed or other sleeping accommodations provided in the space.

"Temporary." A period of time not exceeding 30 consecutive days.

"Tourist promotion agency." The agency designated by the council of the city in which the convention center is located to be eligible for grants from the Department of Community and Economic Development pursuant to the act of April 28, 1961 (P.L.111, No.50), known as the Tourist Promotion Law.

"Transaction." The activity involving the obtaining by a transient or patron of the use or occupancy of a hotel room from which consideration emanates to the operator under an express or an implied contract.

"Transient." An individual who obtains an accommodation in a hotel for the individual by means of registering at the facility for the temporary occupancy of any room for the personal use of that individual by paying to the operator of the facility a fee in consideration for the use. References in Text. The act of April 28, 1961 (P.L.111, No.5), known as the "Tourist Promotion Law," referred to in the definition of "tourist promotion agency," was repealed by the act of July 4, 2008 (P.L.621, No.50), known as the Tourist Promotion Act.
64 Pa.C.S. § 1513 — PA Code / Title 64 / Chapter 15 / Section 1513
Powers.
Status: in_force

(a) Powers.--The authority may do all of the following:

(1) Adopt bylaws and guidelines proposed by the department as necessary.

(2) Sue and be sued, implead and be impleaded, interplead, complain and defend in any court.

(3) Adopt, use and alter a corporate seal.

(4) Establish accounts necessary or desirable for its corporate purposes.

(5) Employ an executive director.

(6) Retain attorneys, accountants, auditors and financial experts to render services and engage the services of other advisors, consultants and agents as necessary. For the purposes of this paragraph, the authority shall be considered an independent agency for purposes of the act of October 15, 1980 (P.L.950, No.164), known as the Commonwealth Attorneys Act.

(7) Pay or satisfy obligations of the authority.

(8) Contract and execute instruments, including financing agreements, letter of credit agreements, liquidity agreements, guarantees, sureties, mortgages, loans, standby loan commitments and contracts of insurance, which are necessary or appropriate for carrying on the business of the authority. This power includes the ability to make and

execute contracts for the servicing of loans and mortgages acquired by the authority.

(9) Borrow money, issue bonds, obtain lines and letters of credit and incur debt.

(10) Pledge the credit of the authority and provide security and liquidity to obligees of the authority as the authority deems necessary or appropriate.

(11) Use or pledge an account for a special purpose, including debt service reserves and other reserves, as may be necessary or desirable to carry out its powers and duties.

(12) Negotiate modifications or alterations to financing agreements, mortgages or security interests.

(13) Foreclose on a mortgage or security interest in default.

(14) Commence any action necessary to protect or enforce any right conferred upon the authority by law, mortgage, security agreement, contract or other agreement.

(15) Bid for or purchase property which was the subject of a mortgage or security interest at a foreclosure or other sale and acquire and take possession of that property.

(16) Impose and collect fees and charges in connection with loan commitments and servicing, including reimbursement of costs of financing.

(17) Acquire, accept, purchase, receive, collect, hold, convey and invest funds, fees and property, whether tangible or intangible, from all sources, directly or by assignment, pledge or otherwise.

(18) Sell, transfer, convey and dispose of any property, whether tangible or intangible.

(19) Acquire and sell loans, mortgages and security interests at public or private sale.

(20) Provide financial assistance to applicants and project users.

(21) Agree to and comply with conditions attached to Federal or Commonwealth assistance not inconsistent with the provisions of this chapter.

(22) Make rules regarding the operation of properties and facilities of the authority subject to agreements with obligees of the authority.

(23) Develop, adopt and implement binding policies or guidelines assuring all of the following:

(i) All persons are accorded equal opportunity in employment and contracting associated with the programs established under Subchapter E (relating to programs). This paragraph includes the authority's contractors, subcontractors, assignees, lessees, agents, vendors and suppliers.

(ii) Contracting parties demonstrate diversity in ownership of equity interests.

(24) Exercise rights provided by law for the benefit or protection of the authority or obligees of the authority.

(25) Invest money of the authority not required for immediate use, including proceeds from the sale of bonds, as the board determines, subject to any agreement with bondholders stated in the authorizing resolution providing for the issuance of bonds.

(26) Procure insurance against any loss in connection with its programs, property and other assets.

(27) Promulgate regulations and adopt guidelines and statements of policy containing restrictions as it may deem necessary and appropriate to effectuate the public purposes of this chapter.

(28) Negotiate and enter into interest rate exchange agreements, interest rate cap agreements, collar agreements, corridor agreements, ceiling agreements, floor agreements, forward agreements, float agreements and other similar arrangements which, in the judgment of the authority, will assist the authority in managing the interest costs of the authority.

(29) Enter into agreements with applicants and project users providing, among other things, for any of the following:

(i) Financial assistance.

(ii) Loan, rental or purchase price payments or other payments, sufficient to amortize the principal, interest and premium, if any, of bonds and contractual obligations of the authority incurred to provide funds to pay the costs of the projects being financed.

(iii) The applicants or project users to pay or cause to be paid all other costs of acquiring, constructing, maintaining and operating the projects being financed.

(iv) Conveyance with or without consideration of any part or all of a project being financed to the project user or applicant on or before payment of all bonds and contractual obligations of the authority incurred with respect to the project.

(v) Other matters as are customary or as are deemed necessary and appropriate by the authority.

(30) Do any appropriate act necessary or convenient to:

(i) carry out and effectuate the purposes of this chapter; or

(ii) exercise the powers set forth in this subsection, including any act reasonably implied from those powers.

(b) Duties.--The authority shall do all of the following:

(1) Administer the programs established in Subchapter E in accordance with this chapter.

(2) Fund the programs established in Subchapter E and 12 Pa.C.S. Ch. 29 (relating to machinery and equipment loans) subject to Subchapter D (relating to funds, accounts, indebtedness and use). Cross References. Section 1513 is referred to in sections 1504, 1512 of this title.
64 Pa.C.S. § 6113 — PA Code / Title 64 / Chapter 61 / Section 6113
Audits.
Status: in_force

The accounts and books of the authority, including its receipts, disbursements, contracts, mortgages, investments and other matters relating to its finances, operations and affairs, shall be examined and audited by the Auditor General.
64 Pa.C.S. § 1523 — PA Code / Title 64 / Chapter 15 / Section 1523
Federal taxation.
Status: in_force

(a) Allocation.--If the bonds issued by the authority for a project are tax-exempt bonds for which Federal law requires an allocation, the department may issue an allocation upon receipt of a written request by the board. An allocation must be issued by the department prior to the approval of the resolution authorizing the issuance of the bonds by the board.

(b) Approval.--If gubernatorial approval is required by Federal or Commonwealth law, the Governor may approve the issuance of bonds by the authority upon receipt of written request for approval from the board. The written request must state all of the following:

(1) The authority has conducted a public hearing, with appropriate public notice, concerning the purposes for which the bonds are to be issued.

(2) A description of the project or projects to be financed.

(3) A description of the method of financing the project or projects.

(4) A summary of the comments made and questions posed at the public hearing.
64 Pa.C.S. § 1121 — PA Code / Title 64 / Chapter 11 / Section 1121
Common application process.
Status: in_force

(a) Preparation.--An application for assistance under the programs must be prepared and approved by a certified economic development organization before it is submitted to the authority, and the application shall comply with any additional requirements of the programs.

(b) Contents.--The application, which shall be in the form required by the authority, shall include the following information, where applicable:

(1) The applicant's name.

(2) The applicant's address.

(3) A description of the type and amount of financial assistance requested.

(4) A description of the applicant's business or, if the applicant is not the borrower, the borrower's business, including all of the following:

(i) The type of business conducted.

(ii) The location of the business.

(iii) The date the business was established.

(iv) The address of the business, including the address of all offices of the business located in this Commonwealth.

(v) The name and address of each principal.

(vi) The number of current employees and an estimate of future employees.

(5) A description of the project, including all of the following:

(i) The location of the project.

(ii) The total estimated cost of the project, as calculated by an engineer or other qualified professional.

(iii) An identification of all sources of capital for the project.

(iv) A legal description of all real property held or to be acquired for the establishment of the project.

(v) A general description and statement of value of any real or personal property of the applicant and, if applicable, the buyer or tenant of the project, to be applied to the establishment of the project.

(6) A statement that the project is consistent with any existing comprehensive county plan where the project is located.

(7) A firm commitment from the intended project user to use the project upon completion.

(8) A brief description of the anticipated economic impact to this Commonwealth and the host municipality and county as a result of the project.

(9) Any plans or other documents as may be required to show the type, structure and general character of the project.

(10) A statement that the applicant certifies to the authority that it will not discriminate against any employee or any applicant for employment because of race, religion, color, national origin, sex or age.

(11) A statement that the applicant certifies to the authority that it is not currently under citation for pollution violations and that in the future it will meet all applicable antipollution standards.

(12) Any information required by the program under which financial assistance may be provided.

(13) Any other information required by the authority.

(c) Review and approval.--

(1) In reviewing the application, the authority shall consider the following, where applicable:

(i) Whether the value of the proposed collateral and the financial resources offered by the applicant are sufficient to repay the loan.

(ii) Whether the project will enable future employment opportunities in or have a net positive economic impact on the surrounding community.

(iii) Whether the statement of the estimated cost of the project is reasonable.

(iv) Whether the sources of financial commitments for funds in excess of the amount requested under this subchapter are reliable.

(v) Whether the applicant has complied with terms required by the programs and under this subchapter.

(vi) Whether the applicant has a history of investment in Pennsylvania-related companies.

(vii) Whether the applicant has demonstrated strong relationships with organizations in this Commonwealth which foster economic development.

(viii) Whether the applicant has a strong performance record.

(ix) Whether the applicant has demonstrated an ability to meet and satisfy debt service, if applicable, as it becomes due and payable.

(x) Whether the applicant has any outstanding environmental violations.

(xi) Any other information deemed to be relevant by the authority.

(2) Subject to any applicable limitations under this subchapter, the amount, duration, interest rate, security required and any other terms of the loan shall be determined at the discretion of the authority based upon its determination of the potential financial risk to the Commonwealth.

(3) Financial assistance may not be approved if the proceeds would be used to:

(i) refinance any portion of the total cost of a capital development project, pollution prevention infrastructure or other existing loans or debt;

(ii) finance a project located outside the geographic boundaries of this Commonwealth;

(iii) relocate a business to another part of this Commonwealth, unless approved in advance by the authority which shall consider the negative economic impact on the community that the business is leaving; or

(iv) provide funds, directly or indirectly, for payment distribution or as a loan to owners, partners or shareholders of a small business, except as ordinary compensation for services rendered.

(4)

(i) The terms of all agreements for financial assistance awarded under this subchapter shall include any material terms, requirements or other conditions provided for agreements entered into under this subchapter. The authority may impose other terms and conditions if it determines that they are in the best interests of the Commonwealth, including a provision requiring collateral for any penalty which may be imposed.

(ii) Upon approving an application for a loan under the programs, the authority shall draw an advance equal to the principal amount of the loan from the appropriate account and, before disbursing loan funds to the applicant, require the applicant to execute a note and to enter into a loan agreement and any other agreement as the authority may require.

(d) Review and notice.--Upon reviewing the application, the authority shall notify the applicant and the certified economic development organization of its decision or request additional information or certifications before making its decision.

(e) Reporting and inspection.--An applicant or a recipient of financial assistance under the programs shall:

(1) permit the authority to inspect its premises, books and records;

(2) provide updated information to the authority if conditions change to the extent that the information originally given becomes inaccurate or misleading; and

(3) provide the authority with any periodic financial reports and audits that the authority may require.

(f) Employment projection audits.--The authority shall implement a procedure to determine whether the employment projections described in the application are achieved.

(g) Transition.--The board shall have all power and authority necessary to implement a transition and continuation

of consideration of pending applications and any other pending administrative actions under section 6 of the act of May 17, 1956 (1955 P.L.1609, No.537), known as the Pennsylvania Industrial Development Authority Act, that are submitted to the authority for consideration prior to the effective date of this section. Cross References. Section 1121 is referred to in sections 2306, 2307, 2308, 2309, 2310, 2906, 3005 of Title 12 (Commerce and Trade).
64 Pa.C.S. § 6017 — PA Code / Title 64 / Chapter 60 / Section 6017
Interests of public officers, public employees and party officers.
Status: in_force

(a) Restrictions upon authority management-level employees.--

(1) No party officer, public officer, public official, public employee or a member of the immediate family of a party officer, public officer or public official shall be employed as a management-level authority employee.

(2) No person convicted of an infamous crime shall be a member of the board or employed as a management-level employee by the authority.

(b) Restricted activities; statement of financial interests; public meetings and records.--The provisions of 65 Pa.C.S. Ch. 11 (relating to ethics standards and financial disclosure) and the act of July 19, 1957 (P.L.1017, No.451), known as the State Adverse Interest Act, are specifically applicable to board members, officers and employees of the authority. For the purposes of application of those acts, employees of the authority shall be regarded as public employees of the Commonwealth, and officers or board members of the authority shall be regarded as public officials of the Commonwealth, whether or not they receive compensation. The authority shall also be subject to 65 Pa.C.S. Ch. 7 (relating to open meetings) and the act of June 21, 1957 (P.L.390, No.212), referred to as the Right-to-Know Law.

(c) Conflicts of interest.--Notwithstanding the provisions of subsection (b), all of the following prohibitions shall apply to the authority:

(1) No management-level employee or other employee of the authority shall use his position with the authority, or any confidential information received through his position with the authority, to obtain financial gain other than compensation provided by law for himself, a member of his immediate family or a business with which he is associated.

(2) No person shall offer or give to a board member, a management-level employee or other employee of the authority or a member of his immediate family or a business with which he is associated, and no board member, management-level employee or other employee of the authority shall solicit or accept, anything of value, including a gift, loan, political contribution, reward or promise of future employment, based on any understanding that the vote, official action or judgment of the board member, management-level employee or other employee of the authority would be influenced thereby.

(3) No board member, management-level employee or other employee of the authority or a member of his immediate family or any business in which the person or a member of the

person's immediate family is a director, officer, owner or holder of stock exceeding 5% of the equity at fair market value of the business shall enter into any contract valued at $500 or more to provide goods or services to the authority unless the contract has been awarded to the lowest responsible bidder through an open and public process, including prior public notice and subsequent public disclosure of all proposals considered and contracts awarded.

(4) No former board member, management-level employee or other employee of the authority shall represent a person, with or without compensation, on any matter before the authority with which he has been associated for one year after he leaves the authority.

(5) Neither an individual who is a State, city or county public officer or public official or any party officer or member of the immediate family of such individual nor a business with which such individual or member of the individual's immediate family is associated shall have a financial interest in any contract valued at $500 or more to provide goods or services to the authority either during the time the person holds office or for two years after the person terminates office unless the contract is executed pursuant to the provisions of paragraph (3). For purposes of this paragraph, the term "financial interest" does not include employment by, association with or ownership of a business association unless the public officer, public official, party officer or member of the immediate family of the individual owns shares of stock in a corporation in an amount in excess of 5% of the total issue for the stock of the corporation or has an ownership interest in any noncorporate business association in an amount in excess of 5% of the total ownership of a noncorporate business association.

(6) No board member, management-level employee or other employee of the authority or an advisor or consultant to the State, city or the county having recommended to the authority which he serves either the making of a contract relating to a convention center authority or a course of action of which the making of such a contract is an express or implied part shall, at any time thereafter, have an adverse interest in the contract.

(7) No board member, management-level employee or other employee of the authority, the State, the city or the county shall influence or attempt to influence the making of or supervise or in any manner deal with any contract with the authority in which the employee has an adverse interest.

(8) No board member, management-level employee or other employee of the authority shall have an adverse interest in any contract with the authority.

(9) No person having an adverse interest in a contract with the authority shall become a board member, management-level employee or other employee of the authority until the adverse interest has been wholly divested.

(10) No board member, management-level employee or other employee of the authority, the State, the city or the county, except in the performance of his duties as such employee, shall for remuneration, directly or indirectly, represent any other person upon any matter pending before the authority.

(d) Enforcement; penalties.--

(1) Any person who violates the provisions of this section shall have employment by the authority or membership

on the board terminated immediately by the appropriate person having the power to terminate and shall be liable to the authority to reimburse the authority for all compensation received from the authority while employed in violation of this section.

(2) Any person who violates the provisions of subsection

(c)(1) or (2) is guilty of a felony and shall be fined not more than $10,000 or imprisoned for not more than five years or be both fined and imprisoned.

(3) Any person who violates the provisions of subsection

(c)(3) through (10) is guilty of a misdemeanor and shall be fined not more than $1,000 or imprisoned for not more than one year or be both fined and imprisoned.

(4) Any person who obtains financial gain from violating any provisions of subsection (c), in addition to any other penalty provided by law, shall pay into the accounts of the authority a sum of money equal to three times the financial gain resulting from the violation.

(5) Any person who violates the provisions of subsection

(c) shall be barred for a period of five years from engaging in any business or contract with the authority, the State, the city and any political subdivision.

(6) Any employee of the State, city or any political subdivision or any public officer or public official who violates subsection (c) shall automatically forfeit any office or employment the employee holds.

(7) The penalties and sanctions provided by this section shall supersede any similar penalties and sanctions provided by the Public Official and Employee Ethics Law and State Adverse Interest Act.

(e) Definitions.--As used in this section, the following words and phrases shall have the meanings given to them in this subsection:

"Business." Any corporation, partnership, sole proprietorship, firm, enterprise, franchise, association, organization, self-employed individual, holding company, joint-stock company, receivership, trust or any legal entity organized for profit or as a not-for-profit corporation or organization.

"Business with which he is associated." Any business in which the person or a member of the person's immediate family is a director, officer, owner, employee or holder of stock.

"County." A county within the Philadelphia Metropolitan Statistical Area as defined in this chapter.

"Immediate family." A parent, spouse, child, brother, sister or like relative-in-law.

"Infamous crime." Any violation and conviction for an offense which would disqualify an individual from holding public office pursuant to section 6 of Article II of the Constitution of Pennsylvania; any conviction for a violation of this section; any conviction for a violation of 18 Pa.C.S. § 4113 (relating to misapplication of entrusted property and property of government or financial institutions) or 18 Pa.C.S. Ch. 47 (relating to bribery and corrupt influence), 49 (relating to falsification and intimidation), 51 (relating to obstructing governmental operations) or 53 (relating to abuse of office); any other violation of the laws of this Commonwealth for which an individual has been convicted within the preceding ten years and which is classified as a felony; or a similar violation of the law of any other state or the Federal Government.

"Management-level authority employee." The counsel employed by the authority, the executive director of the authority and

any authority employee with discretionary powers which may affect the outcome of the authority's decision in relation to a private corporation or business or any employee who by virtue of his job function could influence the outcome of such a decision.

"Party officer." The following members or officers of any political party:

(1) a member of a national committee;

(2) a chairman, vice chairman, secretary, treasurer or counsel of a State committee or member of the executive committee of a State committee;

(3) a county chairman, vice chairman, counsel, secretary or treasurer of a county committee; or

(4) a city chairman, vice chairman, counsel, secretary or treasurer of a city committee.

"Person." A business, individual, corporation, union, association, firm, partnership, committee, club or other organization or group of persons.

"Public employee." An individual employed by the Commonwealth or a political subdivision who is responsible for taking or recommending official action of a nonministerial nature with regard to:

(1) contracting or procurement;

(2) administering or monitoring grants or subsidies;

(3) planning or zoning;

(4) inspecting, licensing, regulating or auditing any person; or

(5) any other activity where the official action has an economic impact of greater than a de minimis nature on the interest of any person. A public employee shall not include individuals who are employed by the State or any political subdivision in teaching as distinguished from administrative duties.

"Public officer." A person elected to any public office of the Commonwealth or any political subdivision.

"Public official." An elected or appointed official in the executive, legislative or judicial branch of the State or any political subdivision. The term does not include members of advisory boards who have no authority to expend public funds other than reimbursement for personal expense or to otherwise exercise the power of the State or any political subdivision. The term does not include any appointed official who receives no compensation other than reimbursement for actual expenses. References in Text. The act of June 21, 1957 (P.L.390, No.212), referred to as the Right-to-Know Law, referred to in subsec. (b), was repealed by the act of Feb. 14, 2008 (P.L.6, No.3), known as the Right-to-Know Law.
64 Pa.C.S. § 1502 — PA Code / Title 64 / Chapter 15 / Section 1502
Construction.
Status: in_force

(a) General rule.--This chapter shall be liberally construed in order to effect the legislative and public purposes as set forth in this subchapter.

(b) Rights of obligees.--The provisions of this chapter providing for security, rights and remedies of obligees of the authority shall be liberally construed to achieve the legislative and public purposes as set forth in this subchapter.

(c) Limitation.--If any provision of this chapter is judged to be invalid by a court of competent jurisdiction, the order or judgment shall be confined in its operation to the controversy in which it was rendered and shall not affect or invalidate any remaining provision of this chapter.
64 Pa.C.S. § 6112 — PA Code / Title 64 / Chapter 61 / Section 6112
Board.
Status: in_force

(a) Composition.--The board shall consist of members selected as follows:

(1) The Secretary of Agriculture or a designee who shall be an employee of the Department of Agriculture.

(2) The Secretary of Community and Economic Development or a designee who shall be an employee of the Department of Community and Economic Development.

(3) The Secretary of Education or a designee who shall be an employee of the Department of Education.

(4) The Executive Director of the Center for Rural Pennsylvania or a designee who shall be an employee of the Center for Rural Pennsylvania.

(5) The chair of the Pennsylvania Public Utility Commission or a designee who shall be an employee of the Pennsylvania Public Utility Commission.

(6) The Secretary of General Services or a designee who shall be an employee of the Department of General Services.

(7) The Secretary of the Budget or a designee who shall be an employee of the Office of the Budget.

(8) One member of the Senate appointed by the President pro tempore of the Senate or a designee who shall be an employee of the Senate.

(9) One member of the Senate appointed by the Minority Leader of the Senate or a designee who shall be an employee of the Senate.

(10) One member of the House of Representatives appointed by the Speaker of the House of Representatives or a designee who shall be an employee of the House of Representatives.

(11) One member of the House of Representatives appointed by the Minority Leader of the House of

Representatives or a designee who shall be an employee of the House of Representatives.

(b) Organization.--The Governor shall select a member of the board to serve as chairperson. The members shall select from among themselves such officers as they deem necessary.

(c) Quorum and meetings.--

(1) Six members of the board shall constitute a quorum. The following shall apply:

(i) The consent of no fewer than six members of the board, with five of the consenting members as specified under subsection (a)(7), (8), (9), (10) and (11), shall be necessary to take action on and make a commitment on behalf of the authority under section 6121(1), (2), (3),

(4), (5) and (6) (relating to corporate powers and duties in general).

(ii) A majority of the board shall be necessary to take any other action not specified under subparagraph

(i) on behalf of the authority.

(2) The board shall meet to conduct official business no less than on a quarterly basis.

(d) Initial appointment and vacancy.--An appointing authority shall appoint initial members to the board within 30 days of the effective date of this chapter. Whenever a vacancy occurs on the board, the appointing authority shall appoint a successor member within 30 days of the vacancy.

(e) Services.--

(1) The department shall provide administrative services and staff, including counsel and legal staff, to the authority and the board. The authority shall reimburse the department for the cost of providing the administrative services and staff under this paragraph.

(2) The authority shall enter into an agreement with the department specifying the rights and obligations that the authority and department have in administering their duties required under this chapter.

(f) Compensation.--The members of the board shall not be entitled to compensation for service.

(g) Fiduciary relationship.--The members of the board and the professional personnel of the board shall stand in a fiduciary relationship with the Commonwealth and the authority as to the money and investments of the authority. Cross References. Section 6112 is referred to in sections 6102, 6111 of this title.
64 Pa.C.S. § 6024 — PA Code / Title 64 / Chapter 60 / Section 6024
Cooperation.
Status: in_force

(a) State public bodies and political subdivisions may cooperate.--For the purpose of aiding and cooperating with the authority and in the planning, acquisition, clearance, relocation, development, design, construction, rehabilitation, leasing, subleasing, alteration, expansion, financing, improvement, management or operation of a convention center or

parts of a convention center, any State public body, political subdivision or the city may, upon terms with or without consideration as it determines, do any of the following:

(1) Dedicate, sell, convey, lease or otherwise transfer any of its property or any interest in its property, real, personal or mixed, tangible or intangible, to the authority.

(2) Cause parking, recreational or community facilities or any other works which it is otherwise empowered to undertake to be furnished in or adjacent to any area selected for a convention center or parts of a convention center.

(3) Furnish, dedicate, close, pave, install, grade, regrade, plan or replan streets, roads, roadways, alleys, sidewalks or other places which it is otherwise empowered so to do.

(4) Enter into agreements extending over any period with the authority or with the Federal Government.

(5) Do all things necessary or convenient to aid and cooperate in the development, acquisition, design, construction, improvement, maintenance, management, operation, furnishing, fixturing, equipping, repairing, financing, owning, leasing and subleasing of a convention center or parts of convention center.

(6) In connection with any public improvements made by any State public body, political subdivision or the city, in exercising the powers granted in this subsection, to incur the entire expense of the improvement.

(b) Documents.--The Secretary of General Services is authorized, with the approval of the Governor and Attorney General, to execute and deliver on behalf of the Commonwealth conveyances, deeds and leases authorized under this chapter or under the former provisions of the act of June 27, 1986 (P.L.267, No.70), known as the Pennsylvania Convention Center Authority Act, formerly codified at 53 Pa.C.S. Ch. 59 (relating to Pennsylvania Convention Center Authority).

(c) City may contract with authority.--In connection with a convention center or parts of a convention center, the city may contract with the authority or the Federal Government with respect to any sums which the authority or the Federal Government may agree to pay during any year or period of years to the city for the improvements, services and facilities to be provided by it for the benefit of the authority, convention center or parts of a convention center or the persons occupying such area. The absence of a contract for such payments shall not relieve the city from the duty to furnish for the benefit of the authority, convention center or parts of a convention center or the persons occupying the area customary improvements and services and facilities as the city usually furnishes without a service fee.

(d) State and city may designate authority as its agent.--The State or the city may, by written agreement, designate the authority as its agent within the authority's field of operation to perform any specified activity or to administer any specified program which the State or the city is authorized by law to do. Any such activities or programs must be in furtherance of the public purposes specified in this chapter. Such activities include development, acquisition, design, construction, improvement, maintenance, leasing, management or operation of a convention center or parts of a convention center.

(e) Powers in addition to other powers.--The powers conferred by this section shall be in addition and supplemental to the powers conferred by any other law.
64 Pa.C.S. § 1122 — PA Code / Title 64 / Chapter 11 / Section 1122
Regulations.
Status: in_force

The board shall promulgate regulations necessary to administer the programs.
64 Pa.C.S. § 6006 — PA Code / Title 64 / Chapter 60 / Section 6006
Purposes and powers; general.
Status: in_force

(a) General powers.--An authority created and continued by this chapter shall exercise the public powers of the Commonwealth as an agency for the purpose, without limitation, by itself or by agreement in cooperation with others, of acquiring, holding, developing, designing, constructing, improving, maintaining, managing, operating, financing, furnishing, fixturing, equipping, repairing, leasing or subleasing, either in the capacity of lessor or lessee or sublessor or sublessee, and owning a convention center or parts of a convention center.

(b) Specific powers.--The authority is granted all powers necessary or convenient for the carrying out of the purposes in subsection (a), including all of the following rights and powers:

(1) To have continuing succession.

(2) To be a party in all courts.

(3) To adopt, use and alter at will a corporate seal.

(4) To acquire by gift or otherwise, purchase, hold, receive, lease, sublease and use any license, franchise or property, real, personal or mixed, tangible or intangible,

or any interest in a license, franchise or property, including a convention center or parts of a convention center.

(5) To sell, transfer or dispose of any property or interest in property with adequate and fair consideration.

(6) To acquire, hold, develop, design, construct, improve, maintain, manage, operate, furnish, fixture, equip, repair, own, lease or sublease a convention center or parts of a convention center and to make, enter into and award contracts with any person, association, partnership or corporation for the development, design, financing, construction, improvement, maintenance, operation, management, furnishing, fixturing, equipping and repair of a convention center or parts of a convention center.

(7) To make bylaws for the management and regulation of its affairs and issue rules, regulations and policies in connection with the performance of its functions and duties.

(8) To appoint officers, agents, employees and servants, to prescribe their duties, to fix their compensation and to establish work rules, work assignments and conditions of employment for any officer, agent, employee or servant of the authority.

(9) To fix, alter, charge and collect rentals, admissions, license fees and other charges.

(10) To borrow money for the purpose of paying the costs of any project and to evidence the debt; make and issue negotiable bonds of the authority; secure the payment of the bonds, or any part of the bonds, by pledge or deed of trust of its revenue, rentals, receipts and contract rights; make contracts with the purchasers or holders of bonds or with other obligees of the authority in connection with any bonds, whether issued or to be issued, as the authority deems advisable; obtain credit enhancement or liquidity facilities in connection with any bonds as the authority determines to be advantageous; and, in general, provide for the security for bonds and the rights of the holders of bonds.

(11) To make, enter into and award contracts to execute all instruments necessary or convenient for the carrying out of its business.

(12) To borrow money and accept grants and to enter into contracts, leases, subleases, licenses or other transactions with any Federal agency, State public body, political subdivision, person, association, partnership or corporation.

(13) To have the power of eminent domain within a city of the first class. Any condemnation by the authority shall be in the manner provided by the act of June 22, 1964 (Sp.Sess., P.L.84, No.6), known as the Eminent Domain Code.

(14) To pledge, hypothecate or otherwise encumber any of its property, real, personal or mixed, tangible or intangible, and its revenue or receipts, including any interest the authority may have in any lease or sublease of a convention center or parts of a convention center.

(15) To procure insurance containing coverages, including, without limitation, insurance covering the timely payment in full of principal of and interest on bonds of the authority, in amounts and from insurers as the authority may determine to be necessary or desirable for its purposes.

(16) To invest its money.

(17) To cooperate with any Federal agency, State public body or political subdivision.

(18) To invest any funds held in reserve or sinking funds or any funds not required for immediate disbursements, as authorized by section 6012(d)(relating to moneys of authority).

(19) To appoint all officers, agents and employees required for the performance of its duties and fix and determine their qualifications, duties and compensation and retain or employ other agents or consultants, including architects, auditors, engineers, private counsel and private consultants, on a contract basis or otherwise for rendering professional or technical services and advice.

(20) To enroll or to continue to enroll its employees in an existing retirement system of the Commonwealth.

(21) To appoint and fix the compensation of chief counsel and assistant counsel to provide it with legal assistance, for which purpose the authority shall not be considered either an executive agency or an independent agency for the purpose of the act of October 15, 1980 (P.L.950, No.164), known as the Commonwealth Attorneys Act, but shall possess the same status for such purpose as the Auditor General, State Treasurer and the Pennsylvania Public Utility Commission, except that the provisions of section 204(b) and (f) of the Commonwealth Attorneys Act shall not apply to the authority, and, notwithstanding the provisions of 42 Pa.C.S. § 8525 (relating to legal assistance), the authority through its counsel shall defend actions brought against the authority and its officers and employees when acting within the scope of their official duties.

(22) To maintain an office in a city.

(23) To appoint an executive director who shall:

(i) be the chief executive officer of the authority;

(ii) devote full time during business hours to the duties of office; and

(iii) receive compensation as the board determines.

(24) To contract with an association with experience in managing convention centers for the management of the convention center.

(25) To do all acts and things necessary or convenient for the promotion of its purposes and the general welfare of the authority and to carry out the powers granted to it by this chapter or any other acts.

(c) Limitation.--The authority shall have no power to pledge the credit or taxing powers of the Commonwealth, a political subdivision or a city, nor shall any of its obligations be deemed obligations of the Commonwealth, a political subdivision or a city, nor shall the Commonwealth, a political subdivision or a city be liable for the payment of principal or interest on the obligations.

(d) Affirmative action.--The authority shall develop and implement an affirmative action plan to assure that all persons are accorded equality of opportunity in employment and contracting by the authority, its contractors, subcontractors, assignees, lessees, agents, vendors and suppliers. References in Text. The act of June 22, 1964 (Sp.Sess., P.L.84, No.6), known as the Eminent Domain Code, referred to in subsec. (b)(13), was repealed by the act of May 4, 2006 (P.L.112, No.34). The subject matter is now contained in Title 26 (Eminent Domain).
64 Pa.C.S. § 1130 — PA Code / Title 64 / Chapter 11 / Section 1130
Transfer of loans from certain programs.
Status: in_force

(a) Loan transfer.--On the effective date of this section, outstanding loans executed under the Small Business First Program and the Machinery and Equipment Loan Program and approved loan commitments that have not been executed by the effective date of this section, including necessary documentation and collateral security associated with the loans, shall be transferred from the department to the authority.

(b) Loan commitments.--An approved loan commitment transferred under subsection (a) shall be executed in accordance with 12 Pa.C.S. Chs. 23 (relating to small business first) and 29 (relating to machinery and equipment loans).

(c) Legal actions.--On the effective date of this section, each legal action relating to a loan under the Small Business First Program or the Machinery and Equipment Loan Program shall be transferred to the authority.

(d) Security or collateral.--No money deposited or to be deposited into the Small Business First Fund or the Machinery and Equipment Loan Fund may serve as security or collateral for any debt incurred by the board before the effective date of this section, unless proceeds made available by the debt are used by the board to fund loans or other financial assistance under the Small Business First Program or the Machinery and Equipment Loan Program to effectively carry out the purposes of the programs.
64 Pa.C.S. § 6001 — PA Code / Title 64 / Chapter 60 / Section 6001
Scope of chapter.
Status: in_force

This chapter deals with convention center authorities in cities of the first class.
64 Pa.C.S. § 6121 — PA Code / Title 64 / Chapter 61 / Section 6121
Corporate powers and duties in general.
Status: in_force

The authority shall have and may exercise all powers necessary or appropriate to carry out and effectuate the authority's purposes under this chapter, including the following:

(1) Adopt bylaws, if necessary.

(2) Make and execute contracts, grants and other instruments.

(3) Apply for and receive money from any source consistent with the purposes of this chapter, including letters of intent and proposals under section 6122(f) (relating to specific powers and duties).

(4) Establish priorities for and allocate and disburse money received consistent with the purposes of this chapter.

(5) Establish subcommittees composed of members of the board or nonmembers of the board to consult with and advise the authority.

(6) Adopt a Statewide broadband plan.

(7) Perform other operational activities necessary or appropriate to further the purposes of this chapter. Cross References. Section 6121 is referred to in section 6112 of this title.
64 Pa.C.S. § 6003 — PA Code / Title 64 / Chapter 60 / Section 6003
Definitions.
Status: in_force

The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly requires otherwise:

"Authority" or "Pennsylvania Convention Center Authority." An agency and public instrumentality of the Commonwealth and a body politic and corporate created pursuant to this chapter or created under the former provisions of section 4 of the act of June 27, 1986 (P.L.267, No.70), known as the Pennsylvania Convention Center Authority Act, formerly codified at 53 Pa.C.S. Ch. 59 (relating to Pennsylvania Convention Center Authority).

"Board." The governing body of the authority.

"Bonds." Notes, bonds, refunding notes and bonds, interim certificates, debentures and other evidence of indebtedness or obligations which the authority is authorized to issue pursuant to this chapter or was authorized pursuant to the former provisions of sections 7 and 8 of the act of June 27, 1986 (P.L.267, No.70), known as the Pennsylvania Convention Center Authority Act, formerly codified at 53 Pa.C.S. Ch. 59 (relating to Pennsylvania Convention Center Authority).

"City." Any city or county of the first class.

"Construction." The acquisition, design, erection, extension, renovation, rehabilitation, conversion, furnishing, fixturing, equipping, enlargement or substantial repair of a convention center or part of a convention center and activities substantially related to such acquisition, design, erection, extension, renovation, rehabilitation, conversion, furnishing, fixturing, equipping, enlargement or substantial repair of a convention center or part of a convention center.

"Convention center." Any land, improvement, structure, building or part of a building, or a property interest in any land, improvement, structure, building or part of a building, whether owned by or leased by or to or otherwise acquired by the authority, and appropriate for large public assemblies; the holding of conventions; conferences; trade exhibitions; and other business, social, cultural, scientific and public interest events. The term includes a main convention area and other buildings, structures or facilities for use in conjunction with the main convention area, including provision for off-street parking, retail areas and other improvements related to the convention center owned by or leased by or to the authority for the purpose of producing revenue to assist in defraying any costs or expenses of the convention center.

"Cost of a project." All or any part of the cost of construction, acquisition, alteration, enlargement, furnishing, fixturing and equipping, reconstruction and rehabilitation of a convention center project. The term includes all of the following:

(1) Cost of all lands, structures, real or personal property, rights, rights-of-way, roads, franchises, easements and interests acquired or used for or in connection with a project.

(2) Cost of demolishing or removing any buildings or structures on acquired land, including the cost of acquiring lands to which buildings or structures may be moved or located.

(3) Cost of all utility lines, structures or equipment.

(4) Charges and interest prior to, during and for a period of six months after completion of construction and acquisition.

(5) Provisions for reserves for principal and interest and for extensions, enlargements, additions and improvements.

(6) Cost of architectural, engineering, financial and legal services, plans, specifications, studies, surveys, estimates of cost and of revenue.

(7) Expenses necessary or incident to determining the feasibility or practicability of constructing the project.

(8) Other capital cost or expense as necessary or incident to the construction, development and acquisition of the project, to the financing of the construction, development and acquisition and to the placing of the project in operation. This paragraph includes a proper allowance for contingencies and the provisions of reasonable initial working capital for operating the project.

"Expansion or substantial renovation." Any construction with an estimated total cost of more than $300,000,000 initiated after substantial completion. "Federal agency" or "Federal Government." The United States of America, the President of the United States of America and any department or corporation, agency or instrumentality designated or established by the United States of America.

"Main convention area." All facilities, furniture, fixtures and equipment necessary or incident to the purposes of a convention center. The term includes:

(1) meeting rooms, dining rooms, kitchens, ballrooms, reception areas, registration and prefunction areas, truck loading areas and access to truck loading areas, accessways, common areas, lobbies and offices; and

(2) areas appurtenant to any of the areas listed in paragraph (1). "Obligee of the authority" or "obligee." Any bondholder, trustee or trustees for any bondholders when a party to any contract with the authority.

"Philadelphia Metropolitan Statistical Area." The Philadelphia, Pennsylvania Metropolitan Division of the Philadelphia-Camden-Wilmington, Pennsylvania-New Jersey Delaware-Maryland Metropolitan Statistical Area as announced on June 6, 2003, by the United States Office of Management and Budget pursuant to Standards for Defining Metropolitan and Micropolitan Statistical Areas by the Office of Management and Budget for the 2000 Decennial Census of the United States Census Bureau, as published in the Federal Register, Vol. 65, No. 249, on December 27, 2000, comprising the Pennsylvania counties of Philadelphia, Delaware, Bucks, Montgomery and Chester.

"Project." Any site, building, structure, equipment, furnishing and other facilities or undertaking in respect of a convention center which the authority is authorized to acquire, construct, improve, install, maintain or operate under the provisions of this chapter.

"State public body." The Commonwealth and its executive, administrative and independent agencies, its departments, its officers, its boards, its authorities, its commissions and its instrumentalities.

"Substantial completion." Construction which is sufficiently completed in accordance with contract documents and certified by a convention center authority's architect or engineer, as modified by change orders which are subject to review and approval by the Secretary of the Budget and the chief financial officer of a city, so that a main convention area can be used, occupied or operated for its intended use. In no event shall a project be certified as substantially complete until at least 90% of the work on the main convention area is completed. Cross References. Section 6003 is referred to in section 6025 of this title.
64 Pa.C.S. § 1555 — PA Code / Title 64 / Chapter 15 / Section 1555
Building Pennsylvania Program.
Status: in_force

(a) Establishment.--There is established a program to be known as the Building Pennsylvania Program. The program shall provide loans to fund managers for investment in real estate projects within this Commonwealth.

(b) Requests for proposals.--The board shall issue one or more requests for proposals in accordance with 62 Pa.C.S. § 518 (relating to competitive selection procedures for certain services) for fund managers. Each request for proposals shall include all of the following:

(1) A statement that the service being requested is the investment in real estate projects located in this Commonwealth which will be acquired and developed, redeveloped or revitalized.

(2) A request to supply all of the following information:

(i) The fund manager's name and address.

(ii) The resumes of the individuals responsible for the investment decisions of the fund manager.

(iii) The fund manager's history of investments in real estate projects, including the number of previous investments, rates of return and capital raised.

(iv) A description of the proposed approach by the fund manager to investments in real estate projects located in this Commonwealth.

(v) The fund manager's history of investments in this Commonwealth.

(vi) The fund manager's understanding of this Commonwealth's geography and economic climate.

(vii) A statement by the fund manager of the amount of the loan being requested.

(3) Any other information required by the board.

(c) Review of proposals.--The board shall review the proposals and determine the fund manager or managers best qualified to provide the services described in the request for proposals. If the board determines that no fund manager is qualified, the board may reissue requests for proposals in accordance with this section.

(d) Contract negotiations.--The board shall select for contract negotiation one or more fund managers who are determined to be the best qualified to provide the services described in the request for proposals.

(e) Award.--The authority may enter into contracts with one or more fund managers. The contracts shall include all of the following provisions:

(1) The terms of repayment of principal and payment of interest and other return to the authority.

(2) That the fund manager will raise and invest in real estate projects located in this Commonwealth at least $1 of nonpublic equity for every $1 of loan funds received by the fund manager under this section.

(3) That the fund manager will exercise the standard of care in its responsibilities set forth in subsection (f).

(4) That the fund manager will provide the board with its annual audited financial statements for the duration of the loan. Financial statements shall be prepared in accordance with generally accepted accounting principles.

(5) That the fund manager will invest in industrial, commercial and multiuse real estate projects located in this Commonwealth which will be acquired and developed, redeveloped or revitalized in accordance with the provisions of this section.

(6) Any other provisions required by the board.

(f) Standard of care.--A fund manager awarded a contract under this section shall exercise that degree of judgment, skill and care under the circumstances then prevailing which persons of prudence, discretion and intelligence who are familiar with such matters exercise in the management of their own affairs, not in regard to speculation, but in regard to the permanent disposition of funds, considering the probable income to be derived therefrom as well as the probable safety of their capital.

(g) Limitations.--

(1) At least 50% of the funds made available for the program authorized by this section must be utilized for projects located in areas other than cities of the first or second class.

(2) No investments may be made by a fund manager in real estate projects which are primarily residential or primarily recreational. Cross References. Section 1555 is referred to in section 1543 of this title.
64 Pa.C.S. § 6023 — PA Code / Title 64 / Chapter 60 / Section 6023
Lease by authority.
Status: in_force

A convention center or part of a convention center established or continued under this chapter may be leased or subleased by the authority to and from the city. The city is empowered to enter into leases, subleases or both. A lease or sublease may be made for a specified or unlimited time and on any terms and conditions approved by the city and agreed to by the authority in conformity with its contracts with the holders of any bonds.
64 Pa.C.S. § 1556 — PA Code / Title 64 / Chapter 15 / Section 1556
Tax Increment Financing Guarantee Program.
Status: in_force

(a) Establishment.--There is established a program to be known as the Tax Increment Financing Guarantee Program. The program shall provide guarantees for tax increment financing bonds or other indebtedness issued in accordance with the act of July 11, 1990 (P.L.465, No.113), known as the Tax Increment Financing Act.

(b) Applications for guarantees.--An issuing authority may submit an application to the authority requesting a guarantee of bonds or other indebtedness to be issued pursuant to the Tax

Increment Financing Act. The application must be on the form required by the board and must include or demonstrate all of the following:

(1) The issuing authority's name and address.

(2) The location of the project.

(3) A description of the project which includes a statement that the project is for the:

(i) redevelopment, reuse or revitalization of previously developed land, including previously mined areas; or

(ii) development of undeveloped land which may be the subject of future development pursuant to any existing comprehensive municipal plan and is zoned for that development at the time of application.

(4) That the requirements of the Tax Increment Financing Act will be complied with prior to the issuance of bonds or other indebtedness by the issuing authority.

(5) That the incremental tax revenues to be realized from the project will be sufficient to offset the amount of debt service to be paid on the bonds or other indebtedness to be issued by the issuing authority.

(6) The amount of the guarantee sought.

(7) Any other information required by the board.

(c) Review of guarantee applications.--The board shall review the application to determine all of the following:

(1) That the project is consistent with any existing comprehensive county plan where the project is located.

(2) That the project is for the:

(i) redevelopment, reuse or revitalization of previously developed land, including previously mined areas; or

(ii) development of undeveloped land which may be the subject of future development pursuant to any existing comprehensive municipal plan and is zoned for that development at the time of application.

(3) That the incremental tax revenues to be realized as a result of the project are sufficient to repay the bonds or other indebtedness issued.

(4) That the project and the proposed bond issue or issuance of debt complies with the requirements of the Tax Increment Financing Act.

(5) That the issuing authority complied with all other criteria established by the board.

(d) Approval of guarantee applications.--Upon being satisfied that all requirements have been met, the board may approve the application, and, if approved, the authority shall execute a guarantee agreement in favor of the issuing authority. In addition to any other terms and conditions required by the board, the guarantee agreement shall provide for the following:

(1) The procedure for the submission of a claim for payment under the guarantee agreement. If the authority makes payment on a claim for payment submitted under the guarantee agreement, the authority may assume all rights and privileges previously belonging to the bondholders or the holders of the debt and may renegotiate the terms of repayment of the debt assumed by the authority under terms as the authority deems appropriate.

(2) Annual reporting by the issuing authority on the status of the project, including the amount of the annual debt service and the annual value of the incremental tax revenues.

(e) Limitations.--No guarantee approved by the board may exceed $5,000,000. Cross References. Section 1556 is referred to in section 1543 of this title; section 13A63 of Title 4 (Amusements).
64 Pa.C.S. § 6005 — PA Code / Title 64 / Chapter 60 / Section 6005
Governing board.
Status: in_force

(a) Appointment.--Power of the authority shall be exercised by a governing board composed of 15 members. Except as provided in section 4 of the act of February 5, 2004 (P.L.7, No.3), members of the board shall be appointed as follows:

(1) Each board of county commissioners or each county council for each county within the Philadelphia Metropolitan Statistical Area, excluding counties which are coterminous with cities of the first class, shall appoint a resident of its county as a member of the board by a majority vote of the members of each board of county commissioners or each county council. The term of office of a member of the board appointed under this paragraph shall run concurrently with the term of office of the chief executive officer of a city.

(2) The President pro tempore of the Senate, the Minority Leader of the Senate, the Speaker of the House of Representatives and the Minority Leader of the House of Representatives shall each appoint one member of the board. Each member shall serve at the pleasure of the member's appointing authority. The term of office of a member of the board appointed under this paragraph shall be for a period of two years beginning on the third Tuesday of each January in an odd-numbered year.

(3) The chief executive officer of the city in which a convention center is located shall appoint one member of the board who is a resident of the city in which the convention center is located. The term of office of a member of the board appointed under this paragraph shall run concurrently with the term of office of the appointing authority.

(4) The chief executive officer of the city in which a convention center is located shall appoint one member of the board from five lists of four nominees prepared by each of the following organizations:

(i) The Philadelphia Convention and Visitors Bureau.

(ii) The Multicultural Affairs Congress.

(iii) The Greater Philadelphia Tourism and Marketing Corporation.

(iv) The Greater Philadelphia Hotel Association.

(v) The Independence Visitors Center Corporation. Each of the four nominees of each of the five lists must be a resident of the city in which a convention center is located and must have significant experience in the hospitality industry. The term of office of a member of the board appointed under this paragraph shall run concurrently with the term of office of the appointing authority.

(5) The president of the council of the city in which a convention center is located shall appoint as a member of the board the member of the council of the city in whose council district the majority of the convention center is located. The term of office of a member of the board appointed under this paragraph shall run concurrently with the term of office of the appointing authority.

(6) The minority leader of the council of the city in which a convention center is located shall appoint as a member of the board a resident of the city in which a convention center is located unless the minority leader is enrolled in the same political party as the member of the board appointed under paragraph (5) was enrolled on the date of the member's most recent election to council. If the minority leader of the council of the city in which a convention center is located is enrolled in the same political party as the member of the board appointed under paragraph (5) was enrolled on the date of the member's most recent election to council, the president of the council of the city in which a convention center is located shall appoint as a member of the board a resident of the city in which the convention center is located. The term of office of a member of the board appointed under this paragraph shall run concurrently with the term of office of the appointing authority.

(7) The Governor shall appoint as a member of the board a resident of the city in which the convention center is located and shall appoint as a member of the board a resident of the Philadelphia Metropolitan Statistical Area excluding counties which are coterminous with cities of the first class. The members of the board appointed under this paragraph shall not be of the same political party. The members of the board appointed under this paragraph shall be appointed subject to the advice and consent of a majority of the members elected to the Senate. The term of office of a member of the board appointed under this paragraph shall run concurrently with the term of office of the appointing authority.

(8) The members of the board who are appointed under paragraphs (1) through (7) shall, by a vote of eight members of the board, appoint an additional member to the board who shall serve as a chairman of the board. The member appointed under this paragraph shall serve for a term coincident with the term of the members of the board appointed under paragraph (2). In the event the members of the board who are appointed under paragraphs (1) through (7) cannot agree on an additional member within 60 days of the office becoming vacant, the Governor shall appoint an additional member of the board who shall serve as chairman subject to the advice and consent of a majority of the members elected to the Senate. The member of the board appointed under this paragraph by either the members of the board or the Governor shall serve as a member of and chairman of the board until his successor is duly appointed.

(9) The Secretary of the Budget shall serve as a nonvoting ex officio member of the board. If the chief financial officer of the city in which the convention center is located is not an appointed member of the board, he shall serve as a nonvoting ex officio member of the board.

(b) Certification and oath of office.--The appointing authorities shall certify their respective appointments to the Secretary of the Commonwealth. Within 30 days after

certification of his appointment and before entering upon the duties of his office, each member of the board shall take and subscribe the constitutional oath of office and file it in the office of the Secretary of the Commonwealth.

(c) Terms and vacancies.--Except as otherwise provided, members shall serve a term from the date of their appointment and until their successors have been appointed and qualified. If a vacancy shall occur by means of the death, disqualification, abandonment, resignation or removal of a member or the chairman, subject to the provisions of subsection

(a), the appointing authority shall appoint a successor to fill his unexpired term.

(d) Compensation.--Subject to an aggregate per annum limitation and any other rules and regulations as the board shall determine, a member shall receive $125 per diem when engaged in the exercise of duties for the authority and shall also be entitled to necessary expenses, including travel expenses, incurred in the discharge of duties. In addition to any other compensation provided under this subsection, the chairman of the board of the authority shall be entitled to receive such additional compensation as the board shall determine. No other member of the board shall be entitled to any additional compensation for extra service provided to the authority. The per diem amount may be increased by a vote of eight members of the board, but any increase shall not apply during the term of office of board members voting or eligible to vote on the per diem increase.

(e) Organization.--The members of the board shall select a vice chairman and other officers as the board may determine from the members of the board. Except as otherwise provided in this chapter, all actions of the board shall be taken by a vote of eight members of the board. The board shall have full authority to manage the properties and business of the authority and to prescribe, amend and repeal bylaws, rules and regulations governing the manner in which the business of the authority may be conducted and the powers granted to it may be exercised and embodied. Notwithstanding any other law, court decision, precedent or practice to the contrary, no actions by or on behalf of the board shall be taken by any officer of the board except upon the approval of a majority of the board. The chairman, vice chairman or any other officer, committee or employee of the board may take actions by or on behalf of the board as authorized on at least an annual basis by a vote of eight members of the board and subject to the supervision and control of the board.

(f) Nonliability of members.--Members of the board shall not be liable personally on the bonds or other obligations of the authority. The rights of creditors shall be solely against the authority. The authority, itself or by contract, shall defend, indemnify and hold harmless board members, whether currently members of the board or not, against and from any and all personal liabilities, actions, causes of action and any and all claims made against them for whatever actions they perform within the scope of their duties as board members.

(g) Meetings.--Regular meetings of the board shall be held at least once in each calendar month except July or August, the time and place of the meetings to be fixed by the board. A majority of the board shall constitute a quorum for the transaction of business. All actions of the board shall be by resolutions, and the affirmative vote of eight members of the board shall be necessary for the adoption of any resolution.

(h) Abandonment.--A member of the board shall be deemed to have abandoned office upon failure to attend any regular or special meeting of the board without excuse approved by resolution of the board for a period of four consecutive months or upon removal of the member's residence from the metropolitan area.

(i) Chairman removal.--The member of the board appointed under subsection (a)(8) may be removed from the board only for misfeasance or malfeasance by a vote of eight members of the board. Prior to the member being removed, the member of the board appointed under subsection (a)(8) must be given a copy of the charges and an opportunity to be heard. Notice of the charges must be provided at least ten days prior to the opportunity to be heard. A hearing conducted in accordance with this subsection must be held at a public meeting of the board. The vice chairman of the board shall file a copy of the charges, a copy of the record of the proceedings and a copy of the findings of the board with the Department of State. If the member of the board appointed under subsection (a)(8) is removed by the board, the members of the board appointed under subsection (a)(1) through (7) shall appoint an additional member to the board in accordance with the provisions of subsection

(a)(8).

(j) Definition.--As used in this section, the term "actions by or on behalf of the board" means any action whatsoever of the board, including the hiring, appointment, removal, transfer, promotion or demotion of any officers and employees, the retention, use or remuneration of any advisors, counsel, auditors, architects, engineers or consultants, the initiation of any legal action, the making of any contracts, leases, agreements, bonds, notes or covenants, the approval of requisitions, purchase orders, investments and reinvestments and the adoption, amendment, revision or rescission of any rules and regulations, orders or other directives.

(k) Removal of chairman.--(Repealed). (Feb. 5, 2004, P.L.7, No.3) 2004 Repeal Note. Act 3 repealed subsec. (k). Effective Date. Section 7(2) of Act 3 of 2004 provided that the addition of subsec. (i) and the repeal of subsec. (k) shall take effect after December 31, 2005.
64 Pa.C.S. § 1504 — PA Code / Title 64 / Chapter 15 / Section 1504
Definitions.
Status: in_force

The following words and phrases when used in this chapter shall have the meaning given to them in this section unless the context clearly indicates otherwise:

"Agriculture." Any of the following:

(1) Production agriculture.

(2) Agribusiness.

(3) The sale of farm commodities at wholesale.

(4) The sale of farm commodities at retail by urban and rural supermarkets located or to be located in underserved areas.

(5) Farmers' markets.

(6) Energy-related activities impacting production agriculture or agribusiness.

(7) Activities which implement best practices related to agricultural waste, agricultural waste products, agricultural by-products or fertilizer.

(8) Any other activity deemed by the Commonwealth Financing Authority to involve agriculture.

"Applicant." A person that submits an application in accordance with Subchapter E (relating to programs).

"Authority." The Commonwealth Financing Authority established in section 1511 (relating to authority).

"Board." The board of the Commonwealth Financing Authority established in section 1512 (relating to board).

"Bonds." Bonds, notes, instruments, refunding notes and bonds and other evidences of indebtedness or obligations which the authority is authorized to issue pursuant to this chapter.

"Commercial lending activities." The making of loans and the provision of deposit services to business entities, except that a farm credit system institution under the Farm Credit Act of 1971 (Public Law 92-181, 85 Stat. 583) need not offer deposit services to qualify as a provider of commercial lending activities under this chapter.

"Commercial lending institutions." A federally chartered or state-chartered bank, savings bank, savings and loan association or farm credit system institution under the Farm Credit Act of 1971 (Public Law 92-181, 85 Stat. 583) which has a satisfactory rating from its primary regulator and which is engaged in commercial lending activities. The institution must operate at least one full-service branch for deposit gathering and lending located within this Commonwealth or be a farm credit system institution under the Farm Credit Act of 1971.

"Commonwealth agency." An agency, authority or other instrumentality of the Commonwealth.

"Community development financial institution." A community development financial institution certified in accordance with the Community Development Banking and Financial Institutions Act of 1994 (Public Law 103-325, 108 Stat. 2163). "Comprehensive county plan" or "comprehensive municipal plan." The comprehensive plan adopted pursuant to applicable law by:

(1) A county or a municipality.

(2) A city of the first class.

(3) A city of the second class. "Cost of the project" or "cost." Any of the following:

(1) Costs and expenses of acquisition of interests in land, infrastructure, buildings, structures, equipment, furnishings, fixtures and other tangible or intangible property, which comprise the project.

(2) Costs and expenses of construction, reconstruction, erection, equipping, expansion, extension, improvement, installation, rehabilitation, renovation or repair of the buildings, structures and equipment, which comprise the project.

(3) Costs and expenses of demolishing, removing or relocating buildings or structures on lands acquired or to be acquired and the expense of acquiring land to which the buildings or structures may be moved or relocated.

(4) Costs and expenses of preparing land for development.

(5) Costs and expenses of engineering services, financial services, accounting services and legal services, plans, specifications, studies and surveys necessary or incidental to determining the feasibility or practicability of the project.

(6) Working capital or other capital needs related to the project.

(7) Other costs and expenses deemed necessary by the Commonwealth Financing Authority.

"Department." The Department of Community and Economic Development of the Commonwealth.

"Executive agency." The Governor and the departments, boards, commissions, authorities and other officers and agencies of the Commonwealth. The term does not include any court or other officer or agency of the Unified Judicial System, the General Assembly and its officers and agencies, an independent agency or a State-affiliated entity.

"Farm commodities." Agricultural, horticultural, aquacultural, vegetable, fruit and floricultural products of the soil; livestock and meats; wools; hides; furs; poultry, eggs, dairy products, nuts, mushrooms, honey products and forest products.

"Farmer." A person engaged in the business of production agriculture.

"Federal agency." The United States of America, the President of the United States of America, the Congress and any department, corporation, agency or instrumentality designated or established by the United States of America.

"Finance." The term shall have the broadest possible meaning. The term includes refinance.

"Financial assistance." Loans, grants, guarantees, sales, leases, investments authorized in Subchapter E (relating to programs), lines of credit, letters of credit and other financial arrangements which the Commonwealth Financing Authority is authorized to undertake under Subchapter E (relating to programs).

"Financing." The term shall have the broadest possible meaning. The term includes refinancing.

"Fund manager." An organization which has as its primary purpose the managing of capital for real estate investments.

"Government agency." A Commonwealth agency; the Unified Judicial System and its courts, officers and agencies; the General Assembly and its officers and agencies; a political subdivision; a municipal authority or other local authority; a local, regional or metropolitan transportation authority; or a board, commission or other agency or instrumentality of a political subdivision, a municipal authority or other local authority.

"Governing body." The body or board authorized by law to enact ordinances or adopt resolutions for a political subdivision.

"Independent agency." A board, commission or other agency or officer of the Commonwealth which is not subject to the policy, supervision and control of the Governor. The term does not include a State-affiliated entity, any court or other officer or agency of the Unified Judicial System, the General Assembly and its officers and agencies, a State-related institution, a political subdivision or a local, regional or metropolitan transportation authority.

"Industrial development corporation." An entity which has been certified as an industrial development agency by the Pennsylvania Industrial Development Authority Board under the act of May 17, 1956 (1955 P.L.1609, No.537), known as the Pennsylvania Industrial Development Authority Act.

"Investor-owned water or wastewater enterprise." A nonpublic entity which supplies water or provides wastewater services to the public for a fee.

"Issuing authority." As defined in section 3 of the act of July 11, 1990 (P.L.465, No.113), known as the Tax Increment Financing Act.

"Managing partner." A general partner, a manager, a managing member or another person designated as the manager of a venture capital partnership.

"Municipal authority." A public authority created under 53 Pa.C.S. Ch. 56 (relating to municipal authorities) or under the former act of May 2, 1945 (P.L.382, No.164), known as the Municipality Authorities Act of 1945.

"Obligee of the authority." Any of the following:

(1) A holder or owner of bonds of the Commonwealth Financing Authority.

(2) A trustee or other fiduciary for any holder or owner of bonds of the Commonwealth Financing Authority.

(3) A provider of a letter of credit, policy of municipal bond insurance or other credit enhancement or liquidity facility for bonds of the Commonwealth Financing Authority.

(4) A lessor or installment seller demising property to the Commonwealth Financing Authority in connection with a project.

(5) A provider of an interest rate management agreement or other agreement or arrangement authorized under section 1513(a)(28) (relating to powers).

"Pennsylvania-related company." An entity with operations located in this Commonwealth or an entity willing to locate significant business operations in this Commonwealth.

"Philadelphia Metropolitan Statistical Area." The Philadelphia, Pennsylvania, Metropolitan Division of the Philadelphia-Camden-Wilmington, Pennsylvania-New Jersey, Delaware-Maryland Metropolitan Statistical Area as announced on June 6, 2003, by the United States Office of Management and Budget pursuant to Standards for Defining Metropolitan and Micropolitan Statistical Areas by the Office of Management and Budget for the 2000 Decennial Census of the United States Bureau of the Census as published in the Federal Register, Vol. 65, No. 249, on December 27, 2000, comprising the Pennsylvania counties of Philadelphia, Delaware, Bucks, Montgomery and Chester.

"Private developer." A person that is all of the following:

(1) Engaged in the development of real estate.

(2) Determined by the Commonwealth Financing Authority to be financially responsible to assume all obligations proposed to be undertaken.

"Production agriculture." The management and use of farming resources for any of the following:

(1) The production of:

(i) agricultural, horticultural, aquacultural, vegetable, fruit or floricultural products of the soil;

(ii) livestock or livestock products;

(iii) milk or dairy products; or

(iv) poultry or poultry products.

(2) Any other practices approved by the Department of Agriculture.

"Project." An activity which promotes economic development or opportunities within this Commonwealth. The term shall not include activities conducted by a for-profit entity directly or indirectly related to gaming.

"Project user." A person, political subdivision, municipal authority, Commonwealth agency or other entity that owns, leases or uses all or any part of a project.

"Redevelopment authority." An entity created under the act of May 24, 1945 (P.L.991, No.385), known as the Urban Redevelopment Law.

"Secretary." The Secretary of Community and Economic Development of the Commonwealth.

"Supermarket." A retail store operated on a self-service basis, primarily selling groceries, fresh produce, meat, bakery and dairy products. The term does not include a convenience store.

"Taxable bonds." Bonds or other evidence of indebtedness, the interest on which is includable in gross income for Federal income taxation purposes.

"Tax-exempt bonds." Bonds or other evidence of indebtedness, the interest on which is excludable from gross income for Federal income taxation purposes.

"Tax increment district." As defined in the act of July 11, 1990 (P.L.465, No.113), known as the Tax Increment Financing Act.

"Tourism." An activity which promotes or encourages individuals to travel to a location within this Commonwealth for pleasure.

"Venture capital partnership." An entity whose purpose is to make investments in companies and is formed as a limited partnership, limited liability company or comparable investment entity.

"Wastewater system." A system for the collection, treatment or disposal of wastewater, including industrial waste. The term does not include a system used solely for residential purposes.

"Water project." An activity to acquire land, easements or rights-of-way and to construct, improve, expand, extend, repair or rehabilitate a water system or wastewater system and which contributes to economic development.

"Water system." A system for the supply, treatment, storage or distribution of water. The term does not include a system used solely for residential purposes. (Nov. 30, 2004, P.L.1708, No.218, eff. imd.; Oct. 9, 2008, P.L.1517, No.125, eff. 60 days) 2008 Amendment. Act 125 amended the defs. of "commercial lending activities" and "commercial lending institutions." 2004 Amendment. Act 218 added the defs. of "community development financial institution," "investor-owned water or wastewater enterprise," "wastewater system," "water project" and "water system. Cross References. Section 1504 is referred to in section 3902 of Title 12 (Commerce and Trade).
64 Pa.C.S. § 1558 — PA Code / Title 64 / Chapter 15 / Section 1558
Water Supply and Wastewater Infrastructure Program.
Status: in_force

(a) Establishment.--There is established a program to be known as the Water Supply and Wastewater Infrastructure Program. The program shall provide financial assistance in the form of single-year or multiyear grants to municipalities and municipal authorities and in the form of loans to municipalities, municipal authorities, industrial development corporations and investor-owned water or wastewater enterprises for water projects which, when completed, construct, expand or improve water and wastewater infrastructure and which are related to economic development.

(b) Application.--A municipality, a municipal authority, an industrial development corporation or an investor-owned water or wastewater enterprise may submit an application to the authority requesting financial assistance for a water project. The application must be on the form required by the board and must include or demonstrate all of the following:

(1) The name and address of the applicant.

(2) A statement of the type and amount of financial assistance sought. If the applicant is requesting financial assistance in the form of a grant, the request may not exceed 75% of the cost of the water project.

(3) A statement of the water project, including a detailed statement of the cost of the water project.

(4) A financial commitment from a responsible source for any cost of the water project in excess of the amount requested. If the applicant is requesting financial assistance in the form of a grant from the department, the financial commitment may not be in the form of a grant from a Commonwealth agency.

(5) A firm commitment from the project user to use the water project upon completion.

(6) Proof that the applicant has secured planning and permit approvals for the water project from the Department of Environmental Protection.

(7) Any other information required by the board.

(c) Review and approval of grant applications.--

(1) If an applicant is requesting financial assistance in the form of a grant, the authority, in conjunction with the Department of Environmental Protection, shall review the application to determine all of the following:

(i) That the applicant is not an investor-owned water or wastewater enterprise.

(ii) If the water project is related to economic development.

(iii) If there is a financial commitment for at least 25% of the water project.

(iv) If the source of the financial commitment is from a responsible source.

(v) If the applicant is firmly committed to using the water project upon completion.

(vi) If the applicant has secured planning and permit approvals for the water project from the Department of Environmental Protection. The water project must be generally consistent with any applicable county or local comprehensive plans.

(vii) If the applicant complied with all other criteria established by the board.

(2) Upon being satisfied that all program requirements have been met, the authority may approve the application consistent with all of the following:

(i) The grant may not exceed $5,000,000 per water project.

(ii) Grants under this program shall not exceed $10,000,000 in the aggregate per municipality or municipal authority.

(iii) The aggregate amount of grants awarded under this subsection shall not exceed $125,000,000.

(iv) The board shall give priority consideration to water projects which are integral for development or redevelopment of sites which are planned for development.

(v) The board has received notice from the Secretary of the Budget that the water project satisfies the Federal tax status requirements of any bonds used to fund the grant.

(3) If the authority approves the application, the authority shall notify the department of the amount approved.

(4) Nothing in this subsection shall be construed to prohibit the awarding of grants to municipalities in which the water supply or wastewater services are provided in whole or in part by an investor-owned water or wastewater enterprise.

(d) Review and approval of loan applications.--

(1) If an applicant is requesting financial assistance in the form of a loan, the authority, in conjunction with the Department of Environmental Protection, shall review the application to determine all of the following:

(i) If the water project is related to economic development.

(ii) If a financial commitment exists for any cost of the water project in excess of the amount requested.

(iii) If the source of the financial commitment is from a responsible source.

(iv) If the water project user is firmly committed to using the water project upon completion.

(v) If the applicant has secured planning and permit approvals for the water project from the Department of Environmental Protection. The water project must be

generally consistent with county and local comprehensive plans.

(vi) If the applicant complied with all other criteria established by the board.

(2) Upon being satisfied that all program requirements have been met, the board may approve the application consistent with all of the following:

(i) The loan may not exceed $5,000,000 per water project.

(ii) Loans under this program shall not exceed $25,000,000 in the aggregate per applicant.

(iii) The board shall give priority consideration to water projects which are integral for the development or redevelopment of sites which are planned for development.

(iv) The board must receive notice from the Secretary of the Budget that the water project satisfies the Federal tax status requirements of any bonds used to fund the loan.

(3) If the authority approves the application, the authority shall notify the department of the amount approved.

(e) Report to General Assembly.--

(1) The authority shall submit an annual report to the General Assembly no later than September 1 following the first fiscal year or any portion thereof in which the program is in effect and no later than September 1 for all succeeding fiscal years in which the program is in effect. The report shall include a list of all of the recipients of grants and loans awarded by the authority in the previous fiscal year, the amount of the grants or loans awarded, a description of the water project and the public purposes that it advances and the documentation submitted by the applicant demonstrating that the water project met at least one of the criteria of subsection (b)(7).

(2) The authority shall post a copy of the report to the General Assembly on the World Wide Web site of the Department of Community and Economic Development and the World Wide Web site of the Department of Environmental Protection. The reports shall remain on the sites until the reports for the next year are posted.

(f) Definition.--As used in this section, the term "economic development" means a project which involves the investment of capital in Pennsylvania enterprises and communities or which results in the creation of new or the preservation of existing jobs in this Commonwealth. (Nov. 30, 2004, P.L.1708, No.218, eff. imd.) 2004 Amendment. Act 218 added section 1558. Cross References. Section 1558 is referred to in sections 3902, 3904, 3905 of Title 12 (Commerce and Trade).
64 Pa.C.S. § 6002 — PA Code / Title 64 / Chapter 60 / Section 6002
Findings and declaration of policy.
Status: in_force

The General Assembly hereby finds and declares as follows:

(1) The health, safety and general welfare of the people of this Commonwealth are directly dependent upon the continual encouragement, development, growth and expansion of business, industry, commerce and tourism within this Commonwealth.

(2) Unemployment, the spread of indigency and the heavy burden of public assistance and unemployment compensation can be avoided by the promotion, attraction, stimulation, development and expansion of business, industry, commerce and tourism in this Commonwealth.

(3) Development and continuation of a major convention center is most appropriate in a city of the first class which, because of size, is capable of attracting major national conventions, and the attraction of business to this Commonwealth as a result of the development and continuation is an important factor in the continual encouragement, promotion, attraction, stimulation, development, growth and expansion of business, industry, commerce and tourism within a city of the first class, its surrounding counties and this Commonwealth as a whole.

(4) The purpose of a convention center should be the promotion, attraction, stimulation, development and expansion of business, industry, commerce and tourism in a city of the first class, its surrounding counties and this Commonwealth as a whole.

(5) The development and continuation of a convention center will provide benefits to the hotel industry throughout the entire region where the convention center is developed.

(6) The development and continuation of a convention center will also provide benefits to the restaurant and entertainment industries throughout the entire region where the convention center is located, to all other businesses and individuals benefited by the attraction of major conventions and tourists, to other individual businesses whose livelihood is dependent on the attraction of major conventions and tourists and to the general public.

(7) The need for and promotion of the type of facility which provides and will continue to provide significant benefits to the general public will require the expenditure of public money, and it is appropriate to authorize a city of the first class where the convention center is located to impose and collect a tax or continue to impose and collect a tax, applicable within the entire territorial limits of the city, to facilitate the development or continuation of a convention center and the promotion of tourism within the city of the first class and the region.

(8) To promote the development and continuation of a convention center within this Commonwealth, it is necessary to provide additional and flexible means of developing, constructing, designing, managing, financing and operating such a convention center.

(9) An important aspect of the development and continuation of a convention center should be the removal of blighted areas and the redevelopment of blighted areas.

(10) The policy of this Commonwealth is to promote the health, safety, employment, business opportunities and general welfare of the people of this Commonwealth by providing for the creation and continuation of a convention center authority, which shall exist and operate as a public instrumentality of this Commonwealth for the public purpose of promoting, attracting, stimulating, developing and expanding business, industry, commerce and tourism in this Commonwealth. This purpose is declared to be a public purpose supporting the enactment of all provisions of this chapter and for which public money may be spent, taxes may be imposed and continued and private property may be acquired by the exercise of the power of eminent domain.
64 Pa.C.S. § 6116 — PA Code / Title 64 / Chapter 61 / Section 6116
Use of money of authority.
Status: in_force

(a) Use.--The board shall use the money available to the authority to fund the program as necessary.

(b) Administrative expenses.--The authority shall use the money available to the authority to pay the administrative expenses of the department and the authority incurred under this chapter.
64 Pa.C.S. § 1512 — PA Code / Title 64 / Chapter 15 / Section 1512
Board.
Status: in_force

(a) Composition.--The board shall be composed of the following members:

(1) The Secretary of Community and Economic Development or a designee.

(2) The Secretary of the Budget or a designee.

(3) The Secretary of Banking or a designee.

(4) Four legislative appointees.

(i) Appointments are as follows:

(A) One individual appointed by the President pro tempore of the Senate.

(B) One individual appointed by the Minority Leader of the Senate.

(C) One individual appointed by the Speaker of the House of Representatives.

(D) One individual appointed by the Minority Leader of the House of Representatives.

(ii) Legislative appointees shall serve at the pleasure of the appointing authority.

(iii) An individual appointed to the board pursuant to subparagraph (i) may not be a member of the General Assembly or staff of a member of the General Assembly.

(b) Organization.--The Governor shall select a member of the board to serve as chairperson. The members shall select from among themselves such officers as they shall determine.

(c) Meetings.--The board shall meet at the call of the chairperson.

(d) Quorum.--Five members of the board shall constitute a quorum, and the following shall apply:

(1) The consent of at least five members of the board, with at least four of the consenting members being appointed under subsection (a)(4), shall be necessary to take action on behalf of the authority for any of the following:

(i) Adopting bylaws.

(ii) Hiring professionals under section 1513(a)(5) and (6) (relating to powers).

(iii) Authorizing bonds.

(iv) Approving projects and contracts under
64 Pa.C.S. § 1101 — PA Code / Title 64 / Chapter 11 / Section 1101
Scope of chapter.
Status: in_force

This chapter relates to the Pennsylvania Industrial Development Authority.
64 Pa.C.S. § 1529 — PA Code / Title 64 / Chapter 15 / Section 1529
Rights and remedies of obligees.
Status: in_force

The rights and remedies conferred upon or granted to obligees of the authority pursuant to this chapter shall be in addition to and not in limitation of rights and remedies lawfully granted to obligees of the authority by the resolution providing for the issuance of bonds or by any trust agreement or other agreement under which the bonds may be issued or secured.
64 Pa.C.S. § 6019 — PA Code / Title 64 / Chapter 60 / Section 6019
Use and operation of convention center.
Status: in_force

The use and operation of the convention center and any parts of a convention center and the operation of the business of the authority shall be subject to the rules and regulations adopted by the authority. The authority shall not be authorized to do anything which will impair the security of the obligees of the authority or violate any agreements with them or for their benefit or violate any contracts, leases or other agreements awarded, made or entered into by the authority.
64 Pa.C.S. § 6010 — PA Code / Title 64 / Chapter 60 / Section 6010
Remedies of obligee of authority.
Status: in_force

An obligee of the authority has the right, in addition to all other rights which may be conferred on the obligee, subject only to any contractual restrictions binding upon the obligee, to:

(1) By mandamus, suit, action or proceeding at law or in equity, compel the authority and the members, officers, agents or employees thereof to perform each and every term, provision and covenant contained in any bond or contract of the authority with or for the benefit of the obligee and to require the carrying out of any or all covenants and agreements of the authority and the fulfillment of all duties imposed upon the authority by this chapter or under the former provisions of the act of June 27, 1986 (P.L.267, No.70), known as the Pennsylvania Convention Center Authority Act, formerly codified in 53 Pa.C.S. Ch. 59 (relating to Pennsylvania Convention Center Authority).

(2) By proceeding in equity, obtain an injunction against any acts or things which may be unlawful or the violation of any of the rights of the obligee of the authority.
64 Pa.C.S. § 1511 — PA Code / Title 64 / Chapter 15 / Section 1511
Authority.
Status: in_force

(a) Establishment.--There is established an independent authority to be known as the Commonwealth Financing Authority. The authority shall be an instrumentality of the Commonwealth and a body corporate and politic, with corporate succession.

(b) Governance.--The authority shall be governed by the board. The powers of the authority shall be exercised by the board.

(c) Expenses.--Expenses of the authority shall be paid from assets or income of the authority. Except as provided in this chapter or by other law, the Commonwealth shall not be responsible for funding the expenses of the authority.

(d) Fiscal year.--The fiscal year of the authority shall be the same as the fiscal year of the Commonwealth.

(e) Audit.--

(1) The accounts and books of the authority shall be examined and audited annually by an independent certified public accounting firm.

(2) The authority shall, by December 31 of each year, file a copy of the audit required by paragraph (1) with the Secretary of the Senate and the Chief Clerk of the House of Representatives.

(f) Reports.--(Reserved).

(g) Publication.--The authority shall annually publish a concise financial statement in the Pennsylvania Bulletin.

(h) Cooperation.--Executive agencies shall cooperate with and provide assistance to the authority without financial reimbursement.

(i) Existence and dissolution.--

(1) The authority shall exist until terminated by law.

(2) The authority may be dissolved by law if all outstanding liabilities of the authority, including bonds and other contractual obligations, have been fully paid, retired, satisfied or discharged or provision has been made for payment of all outstanding liabilities of the authority, including bonds and other contractual obligations. Upon the dissolution of the authority, all funds, assets and other property of the authority shall vest in the Commonwealth.

(j) Procurement.--The authority shall be considered as an independent agency for the purposes of 62 Pa.C.S. Pt. I (relating to Commonwealth procurement code).

(k) Limitation on action.--If any provision of this section or section 1512 (relating to board) is held invalid by a court of competent jurisdiction, the authority shall not borrow further moneys nor issue further bonds, and the authority shall not further disburse to any person proceeds of any issue of bonds previously authorized. All provisions of outstanding bonds of the authority and all rights and remedies of obligees of the authority under this chapter shall be and shall remain valid and enforceable.

(l) Relationship with department.--

(1) The department shall provide administrative services and staff, including staff legal counsel, to the authority and the board. The authority shall reimburse the department for the cost of providing the administrative services and staff.

(2) The authority may enter into agreements with the department setting forth the rights and obligations they

have to each other in carrying out their respective responsibilities under and to further the intent of this chapter.

(m) Applicability.--The following acts shall apply to the authority and the board:

(1) The act of June 21, 1957 (P.L.390, No.212), referred to as the Right-to-Know Law.

(2) The act of July 19, 1957 (P.L.1017, No.451), known as the State Adverse Interest Act.

(3) The provisions of 65 Pa.C.S. Chs. 7 (relating to open meetings) and 11 (relating to ethics standards and financial disclosure). Nonseverability. Section 6(2) of Act 22 of 2004 provided that if section 1511 or 1512 or the application to any person or circumstance is held invalid, the remaining provisions or applications of Act 22 are void. References in Text. The act of June 21, 1957 (P.L.390, No.212), referred to as the Right-to-Know Law, referred to in subsec. (m)(1), was repealed by the act of Feb. 14, 2008 (P.L.6, No.3), known as the Right-to-Know Law. Cross References. Section 1511 is referred to in section 1504 of this title; section 3902 of Title 12 (Commerce and Trade).
64 Pa.C.S. § 6115 — PA Code / Title 64 / Chapter 61 / Section 6115
Accounts.
Status: in_force

The authority may establish accounts for the deposit of money available to the authority for the purposes of this chapter.
64 Pa.C.S. § 6102 — PA Code / Title 64 / Chapter 61 / Section 6102
Definitions.
Status: in_force

The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise:

"Applicant." An entity that submits an application for a grant under section 6124 (relating to grant applications and process), including, but not limited to, a cooperative, nonprofit organization, public-private partnership, private company, public or private utility, public utility district, council of governments, local government or any other entity approved by the board, subject to section 6112(c)(1)(i) (relating to board).

"Authority." The Pennsylvania Broadband Development Authority established under section 6111(a) (relating to authority).

"Board." The board of directors of the Pennsylvania Broadband Development Authority established under section 6112.

"Community anchor institution." An entity, including any school, library, health clinic, health center, hospital or other medical provider, public safety entity, institution of higher education, public housing organization or community support organization, that facilitates greater use of broadband service by vulnerable populations, including low-income individuals, unemployed individuals and aged individuals, that lack access to gigabit-level broadband service.

"Department." The Department of Community and Economic Development of the Commonwealth.

"High-speed broadband service." Wireless, wireline or fixed wireless technology having a latency sufficient to support

real-time, interactive applications and the capacity to reliably and consistently transmit data from or to the Internet at:

(1) minimum speeds of at least 100 megabits per second for downloads and 20 megabits per second for uploads;

(2) minimum speeds adopted by the Federal Communications Commission; or

(3) minimum speeds otherwise required to comply with funding opportunities from the Federal Government, whichever is greater.

"Overbuild." The deployment of high-speed broadband service infrastructure in an area that is not unserved or underserved.

"Program." The grant program or programs established under section 6123(a) (relating to grant awards generally) to fund projects.

"Project." A high-speed broadband service infrastructure project or other broadband project allowable under Federal law or guidance.

"Reliable broadband service." Broadband service that meets performance criteria for service availability, adaptability to changing end-user requirements, length of serviceable life or other criteria, other than upload and download speeds, as determined by the authority to comply with Federal law or guidance.

"Statewide broadband plan." The Statewide broadband plan developed under section 6122(g) (relating to specific powers and duties).

"Underserved area." A project area that is not an unserved area and lacks access to reliable broadband service offered with a speed of not less than 100 megabits per second for downloads and 20 megabits per second for uploads and a latency sufficient to support real-time, interactive applications.

"Unserved area." A project area that has no access to broadband service or lacks access to reliable broadband service with a speed of not less than 25 megabits per second for downloads and three megabits per second for uploads and a latency sufficient to support real-time, interactive applications.
64 Pa.C.S. § 1552 — PA Code / Title 64 / Chapter 15 / Section 1552
First Industries Program.
Status: in_force

(a) Establishment.--There is established a program to be known as the First Industries Program. The program shall provide financial assistance for projects related to tourism and agriculture located within this Commonwealth. The board shall allocate funds made available to the program among the different methods of financing authorized in this section.

(b) Applications for planning grants.--An applicant may submit an application to the authority requesting a planning grant in an amount not to exceed $250,000 for the costs of predevelopment activities and feasibility studies for a project related to tourism or agriculture. The application shall be on

the form required by the board and shall include or demonstrate all of the following:

(1) The applicant's name and address.

(2) The location of the project.

(3) A description of the project.

(4) An estimate of the cost of the predevelopment activities and feasibility studies and the goal to be achieved by carrying out the proposed activities or studies.

(5) A statement of the amount of the planning grant sought.

(6) Any other information required by the board.

(c) Review and approval of planning grant applications.--

(1) The board shall review the application to determine that the project demonstrates one or more of the following:

(i) The project will have a demonstrable impact on the economy or well-being of the neighborhood, community or region where the project will be located.

(ii) The project will promote research and development efforts leading to increased commercialization or utilization of farm commodities.

(iii) The project will result in environmentally friendly or energy efficient operations related to agriculture, including projects authorized by the act of December 12, 1994 (P.L.888, No.128), known as the Agricultural By-Product Management Technology Act.

(iv) The project will result in more cost-effective and efficient marketing of regional assets related to tourism or agriculture.

(v) The project will result in a substantial increase in revenues for the Commonwealth or the host municipality.

(vi) The project proposes to utilize Commonwealth-owned natural resources for public/private development of tourism.

(2) Upon being satisfied that the requirements of paragraph (1) have been met, the board may approve the application, and, if approved, the authority shall award a planning grant.

(3) Copies of all reports and studies prepared with planning grant funds shall be filed with the authority and shall be made available to any person upon request.

(d) Loans to applicants.--If the department approves an application for a loan under the programs established in 12 Pa.C.S. Ch. 23 (relating to small business first) or 29 (relating to machinery and equipment loans), the department may request that the authority finance the loan. Upon being satisfied that the project is related to agriculture or tourism, the board may approve the request, and, if approved, the authority shall award a loan. Loans made under this subsection shall be administered by the department. Payments received shall be forwarded to the authority and credited to the account established in accordance with section 1542(b) (relating to revolving loan program accounts).

(e) Loan guarantees.--

(1) An applicant may request a guarantee for a loan to be made by a commercial lending institution or community development financial institution to assist with the financing of a project related to tourism or agriculture. The applicant may be the commercial lending institution or community development financial institution applying on behalf of a borrower. The application must be on the form

required by the board and must include or demonstrate all of the following:

(i) The applicant's name and address. If the applicant is a commercial lending institution or community development financial institution, the borrower's name and address.

(ii) A description of the project.

(iii) A statement describing the anticipated economic impact to the Commonwealth and the host municipality as a result of the project.

(iv) A description of the proposed project financing, including terms, conditions and the collateral or security required for the loan for which the guarantee is being requested.

(v) A copy of the applicant's last two years of financial statements prepared or reported on by an independent certified public accountant. If the applicant is a commercial lending institution or a community development financial institution, a copy of the borrower's last two years of financial statements prepared or reported on by an independent certified public accountant.

(vi) The amount of the loan guarantee that is being requested.

(vii) The total project cost and the identification of all sources of capital for the project.

(viii) Any other information required by the board.

(2) The board shall review the application to determine all of the following:

(i) That the project has been awarded a planning grant under this section or that at least $500,000 of private funds are being invested in the project.

(ii) That the value of the proposed collateral is sufficient to cover the full amount of the loan.

(iii) That the applicant complied with all other criteria established by the board.

(3) Upon being satisfied that all requirements have been met, the board may approve the guarantee, and, if approved, the authority shall execute a guarantee agreement in favor of the commercial lending institution or community development financial institution stating the terms and amounts of the guarantee. Except as provided in paragraph

(3.1), the guarantee may not exceed 50% of the outstanding principal amount of the loan or $2,500,000 at any point in time, whichever is less. In addition to any other terms and conditions required by the board, the guarantee agreement shall provide for all of the following:

(i) The procedure for the submission by the commercial lending institution or community development financial institution of a claim for payment. This procedure shall require that the commercial lending institution or community development financial institution demonstrate that it has exhausted all available remedies against the borrower, other guarantors and collateral before seeking payment under the agreement.

(ii) A requirement that a percentage of any moneys recovered subsequent to the payment of a claim by the authority be remitted to the authority.

(iii) Periodic reporting requirements by the commercial lending institution or community development financial institution regarding itself and regarding the

loans which have been awarded guarantees under this section.

(3.1) A guarantee of 51% to 90% of the principal amount of the loan to assist with the financing of a project related to agriculture may be awarded by the board. The guarantee shall be subject to a one-time fee of 2% of the amount of the loan multiplied by the percentage of the guarantee.

(3.2) The amount of a guarantee under this subsection, if any, shall be set at the discretion of the board based upon its determination of the potential financial risk to the Commonwealth.

(4) The board may establish a subcommittee composed of one or more board members and department staff to supervise the progress of projects for which loan guarantees have been awarded under this section.

(e.1) Limitation.--A Farm Credit Institution under the Farm Credit Act of 1971 (Public Law 92-181, 85 Stat. 583) shall only be permitted to participate in the First Industries Program established under this section and may not participate in any other loan guarantee program established under this chapter.

(e.2) Sunset.--(Deleted by amendment).

(f) Limitations.--

(1) No more than $10,000,000 of the funds available for the program authorized by this section may be used for planning grants awarded under subsection (c).

(2) At least two-thirds of the funds available for the program authorized by this section shall be used for financing of projects related to agriculture. (Nov. 30, 2004, P.L.1708, No.218, eff. imd.; Oct. 9, 2008, P.L.1517, No.125, eff. 60 days; June 30, 2011, P.L.193, No.27, eff. imd.; Dec. 17, 2015, P.L.457, No.81, eff. imd.) 2015 Amendment. Act 81 amended subsecs. (e)(2) and (3.1) and (e.2). 2008 Amendment. Act 125 amended subsec. (e)(2) and (3) and added subsecs. (e)(3.1) and (3.2), (e.1) and (e.2). See section 3 of Act 125 in the appendix to this title for special provisions relating to Department of Community and Economic Development reports. 2004 Amendment. Act 218 amended subsec. (e). Cross References. Section 1552 is referred to in sections 1542, 1543 of this title.
64 Pa.C.S. § 1527 — PA Code / Title 64 / Chapter 15 / Section 1527
Commonwealth pledges.
Status: in_force

(a) Bondholders.--The Commonwealth pledges to and agrees with each obligee of the authority that the Commonwealth will not limit or alter the rights and powers vested in the authority or otherwise created by this chapter in any manner inconsistent with the obligations of the authority to its obligees until all bonds at any time issued, together with the interest on the bonds, are fully paid and discharged.

(b) Lessees.--The Commonwealth pledges and agrees with any person that, as owner of property which is leased or subleased to or from the authority, it will not limit or alter the rights and powers vested in the authority or otherwise created by this chapter in any manner which impairs the obligations of the authority until all the obligations of the authority under the lease or sublease are fully met and discharged.
64 Pa.C.S. § 6111 — PA Code / Title 64 / Chapter 61 / Section 6111
Authority.
Status: in_force

(a) Establishment.--The Pennsylvania Broadband Development Authority is established as an independent authority. The authority shall be an instrumentality of the Commonwealth and a body corporate and politic, with corporate succession. The exercise by the authority of the powers conferred on the authority by this chapter shall be deemed and held to be a public and essential government function.

(b) Governance.--The authority shall be governed by a board of directors as provided in section 6112 (relating to board). The powers of the authority shall be exercised by the board.

(c) Fiscal year.--The fiscal year of the authority shall be the same as the fiscal year of the Commonwealth.

(d) Dissolution.--Upon dissolution of the authority, all property, money and assets of the authority shall be vested in the Commonwealth. The authority shall dissolve upon the later of:

(1) ten years from the effective date of this section; or

(2) all Federal funds available for the purposes of this chapter have been exhausted and all applicable duties and responsibilities under Federal law or guidance have been completed.

(d.1) Notice.--Prior to dissolution under subsection (d), the authority shall transmit notice of the dissolution to the Legislative Reference Bureau for publication in the Pennsylvania Bulletin.

(e) Procurement.--The authority shall be considered an independent agency for purposes of 62 Pa.C.S. Pt. I (relating to Commonwealth Procurement Code).

(f) Applicability.--The following acts shall apply to the authority and the board:

(1) The act of July 19, 1957 (P.L.1017, No.451), known as the State Adverse Interest Act.

(2) The act of February 14, 2008 (P.L.6, No.3), known as the Right-to-Know Law.

(3) The provisions of 65 Pa.C.S. Chs. 7 (relating to open meetings) and 11 (relating to ethics standards and financial disclosure). Cross References. Section 6111 is referred to in sections 6102, 6123 of this title.
64 Pa.C.S. § 6009 — PA Code / Title 64 / Chapter 60 / Section 6009
Provisions of bonds, trusts, indentures and mortgages.
Status: in_force

In connection with the issuance of bonds or the incurring of obligations under leases and in order to secure the payment of the bonds and obligations, the authority, in addition to its other powers, shall have the power to:

(1) Pledge all or any part of its gross or net revenue to which its right then exists or may thereafter come into existence.

(2) Mortgage all or any part of its real or personal property then owned or thereafter acquired.

(3) Covenant against pledging all or any part of its revenue, or against mortgaging all or any part of its real or personal property to which its right or title exists or may come into existence, or against permitting or suffering a lien on the revenue or property; covenant with respect to limitations on its right to sell, lease or otherwise dispose of any of its real property; and covenant as to what other or additional debts or obligations may be incurred by it.

(4) Covenant as to the bonds to be issued and as to the issuance of the bonds, in escrow or otherwise, and as to the use and disposition of the proceeds of the bonds.

(5) Provide for the replacement of lost, destroyed or mutilated bonds.

(6) Covenant against extending the time for the payment of its bonds or interest on the bonds, redeem the bonds and covenant for their redemption, and provide the terms and conditions of the bonds.

(7) Covenant as to the amount of revenue to be raised each year or other period of time by the authority as well as to the use and disposition to be made of the revenue.

(8) Create or authorize the creation of special funds for debt service or other purposes and to covenant as to the use and disposition of the money held in the special funds.

(9) Prescribe the amount of bonds.

(10) Prescribe the procedure, if any, by which the terms of a contract with bondholders may be amended or abrogated, the percentage of bonds the consent of the holders of which is required for amendment or abrogation and the manner in which consent of bondholders may be obtained.

(11) Covenant as to the use of any or all of its real or personal property, warrant its title and covenant as to the maintenance of its real and personal property, the replacement of the property, the insurance to be carried on the property and the use and disposition of insurance money.

(12) Covenant as to the rights, liabilities, powers and duties arising upon the breach by it of any covenant,

condition or obligation and covenant and prescribe, in the event of default, as to terms and conditions upon which its bonds or obligations shall become or may be declared due before maturity and as to the terms and conditions upon which declaration and its consequences may be waived.

(13) Vest in a trustee or the holders of bonds, or any proportion of them, the right to enforce the payment of the bonds or any covenants securing or relating to the bonds; and vest in a trustee the right, in the event of a default by the authority, to take possession and use, operate and manage any real property and to collect the rent and revenue arising from the property and to dispose of the rent and revenue in accordance with the agreement of the authority with the trustee.

(14) Provide for the powers and duties of a trustee; limit liabilities of the trustee; and provide the terms and conditions upon which the trustee or the holders of bonds, or any proportion of them, may enforce any covenant or rights securing or relating to the bonds.

(15) Obtain letters of credit and bond insurance.

(16) Negotiate and enter into interest rate exchange agreements, interest rate cap, collar, corridor, ceiling and floor agreements, forward agreements, float agreements and other similar arrangements which, in the judgment of the authority, will assist the authority in managing the interest costs of the authority.

(17) Exercise all or any part or combination of the powers granted under this chapter or under the former provisions of the act of June 27, 1986 (P.L.267, No.70), known as the Pennsylvania Convention Center Authority Act, formerly codified at 53 Pa.C.S. Ch. 59 (relating to the Pennsylvania Convention Center Authority); make covenants other than and in addition to the covenants expressly authorized in this chapter; and make covenants and to do any and all such acts and things necessary or convenient or desirable to secure its bonds or, in the absolute discretion of the authority, as will tend to accomplish the purposes of this chapter by making the bonds more marketable or by managing the interest cost of the bonds, notwithstanding that the covenants, acts or things may not be specifically enumerated in this chapter.
64 Pa.C.S. § 1524 — PA Code / Title 64 / Chapter 15 / Section 1524
Validity of bonds; limitation on actions.
Status: in_force

(a) Presumption.--Bonds reciting in substance that they have been issued by the authority to accomplish the public purposes of this chapter shall be conclusively deemed in any suit, action or proceeding involving the validity or enforceability of the bonds or their security to have been issued for the public purposes of this chapter.

(b) Estoppel.--After issuance, bonds shall be conclusively presumed to be fully authorized and issued under the laws of this Commonwealth, and any person shall be estopped from questioning their validity, sale, execution or delivery by the authority.
64 Pa.C.S. § 1521 — PA Code / Title 64 / Chapter 15 / Section 1521
Bonds issuance.
Status: in_force

(a) Authorization.--The authority may issue limited obligation revenue bonds and other types of limited obligation revenue financing. Bonds issued and financing incurred pursuant to this subchapter shall be subject to the limits set forth in section 1543 (relating to indebtedness) and shall be in the name of the authority.

(b) Taxability.--The authority may issue both tax-exempt bonds and taxable bonds to fund the programs established in
64 Pa.C.S. § 1544 — PA Code / Title 64 / Chapter 15 / Section 1544
Use.
Status: in_force

(a) General rule.--Money of the authority shall be used by the board to fund the programs established in Subchapter E (relating to programs) and in 12 Pa.C.S. Ch. 29 (relating to machinery and equipment loans).

(b) Transfer.--By December 31, 2006, the authority shall transfer in the aggregate $75,000,000 to the department for deposit in the account created by 12 Pa.C.S. § 2904 (relating to Machinery and Equipment Loan Fund).

(c) Administrative expenses.--The authority may use moneys, including the proceeds of bonds, to pay the administrative expenses of the authority and of the department incurred under this chapter.
64 Pa.C.S. § 6020 — PA Code / Title 64 / Chapter 60 / Section 6020
Convention center performance audits; annual performance reports.
Status: in_force

(a) Convention center performance audits.--The board shall cause periodic performance audits of the convention center to be conducted and completed at least 90 days after the end of every third fiscal year beginning with the fiscal year ending in 2004, six months prior to the termination of any agreement with any labor organization of which the authority is signatory if the labor agreement terminates more than 18 months after the submission of the previous performance audit and at such additional times as the board shall determine. Performance audits shall be conducted in accordance with all of the following:

(1) The performance audit shall be performed by an independent auditing or consulting firm with recognized experience in the convention industry and shall examine and report on all of the following:

(i) Customer satisfaction at the convention center.

(ii) Labor costs at the convention center, which shall include a comparison of labor costs at the convention center with labor costs at convention centers in this Commonwealth and in other states.

(iii) Rebooking rates of events at the convention center categorized by size and hotel room nights, which shall include a comparison of rebooking rates of previous years at the convention center and rebooking rates of events at convention centers in this Commonwealth and in other states.

(iv) Booking rates of events at the convention center categorized by size and hotel room nights, which shall include a comparison of booking rates of previous years at the convention center and booking rates of events at convention centers in this Commonwealth and in other states.

(v) Hotel booking rates in the Philadelphia Metropolitan Statistical Area related to the convention center industry, which shall include a comparison of hotel booking rates in the Philadelphia Metropolitan Statistical Area during previous years.

(vi) Compliance with the code of conduct and other work rules at the convention center and enforcement of the code of conduct and other work rules at the convention center by the authority and its designees.

(vii) Any other items proposed by the board.

(2) No later than 30 days after the completion of the performance audit, the board shall submit the results of the performance audit to the Governor, the Secretary of Community and Economic Development, the President pro tempore of the Senate, the Majority Leader of the Senate, the Minority Leader of the Senate, the Speaker of the House of Representatives, the Majority Leader of the House of Representatives, the Minority Leader of the House of Representatives, the chairperson and minority chairperson of the Appropriations Committee of the Senate, the

chairperson and minority chairperson of the Appropriations Committee of the House of Representatives, the chief executive officer of the city in which the convention center is located and the council president of the city in which the convention center is located.

(b) Annual performance reports.--The board shall complete a performance report no later than 90 days after the end of each fiscal year beginning with the first fiscal year ending after the effective date of this section except in years in which the board completes and submits a performance audit as provided for in subsection (a). Performance reports shall comply with all of the following:

(1) The performance report shall include a summary of the following:

(i) Customer satisfaction at the convention center.

(ii) Violations of the code of conduct or other work rules at the convention center, which shall include the identity of any organization whose members or representatives violate the code of conduct or other work rules, a description of each violation and the number of such violations.

(iii) Actions taken by the authority or its designee to enforce the code of conduct and other work rules at the convention center.

(iv) Complaints of customers and visitors at the convention center, if any, and the response of the authority or its designee to such complaints.

(v) A variance of more than 5% in any line item of the authority's approved operating budget for the fiscal year covered by the performance report and the reason for such variance.

(vi) Any deficit in the authority's operating budget for the fiscal year covered by the performance report and the reason for such deficit.

(vii) Any deficit, estimated deficit or projected year-end deficit in the adopted operating budget for the fiscal year immediately following the fiscal year covered in the performance report and the reason for such deficit.

(viii) Booking and rebooking rates of events at the convention center categorized by size and hotel room nights.

(ix) Hotel booking rates in the Philadelphia Metropolitan Statistical Area related to the convention center industry.

(x) Any other items as the authority shall determine.

(2) No later than 120 days after the end of each fiscal year, the board shall submit the performance report to the Governor, the Secretary of Community and Economic Development, the President pro tempore of the Senate, the Majority Leader of the Senate, the Minority Leader of the Senate, the Speaker of the House of Representatives, the Majority Leader of the House of Representatives, the Minority Leader of the House of Representatives, the chairperson and minority chairperson of the Appropriations Committee of the Senate, the chairperson and minority chairperson of the Appropriations Committee of the House of Representatives, the chief executive officer of the city in which the convention center is located and the council president of the city in which the convention center is located.
64 Pa.C.S. § 1526 — PA Code / Title 64 / Chapter 15 / Section 1526
Validity of pledge.
Status: in_force

A pledge of or grant of a security interest in revenues or instruments made by the authority shall be valid and binding from the time when the pledge is made. The revenues, receipts, money, funds or other property or instruments pledged and later received by the authority shall immediately be subject to the lien of the pledge or security interest without any physical delivery of the property pledged or further act. The lien of the pledge or security interest shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the authority irrespective of whether the parties have notice of the lien, pledge or security interest. No instrument by which a pledge or security interest is created, evidenced or noticed need be recorded or filed to perfect the pledge or security interest except in the records of the authority.
64 Pa.C.S. § 6012 — PA Code / Title 64 / Chapter 60 / Section 6012
Moneys of authority.
Status: in_force

(a) Paid to treasurer.--Unless otherwise provided by law, all money of the authority from whatever source derived shall be paid to the treasurer of the authority.

(b) Funds to be invested.--The board shall invest authority funds consistent with sound business practice.

(c) Investment program.--The board shall provide for an investment program subject to restrictions contained in any of the following:

(1) This chapter.

(2) Any other applicable statute.

(3) Any rules and regulations adopted by the board.

(d) Authorized types of investments.--

(1) Authorized types of investments for authority funds shall be all of the following:

(i) Direct obligations of or obligations guaranteed by the United States of America.

(ii) Any bond, debenture, note, participation certificate or other similar obligation issued by any one or combination of the following agencies:

(A) Government National Mortgage Corporation.

(B) Federal Land Banks.

(C) Federal Home Loan Banks.

(D) Federal Intermediate Credit Banks.

(E) Banks for Cooperatives.

(F) The Tennessee Valley Authority.

(G) The United States Postal Service.

(H) The Farmers Home Administration.

(I) The Student Loan Marketing Association.

(J) The Export-Import Bank of the United States.

(iii) Any bond, debenture, note, participation certificate or other similar obligation issued by the Federal National Mortgage Corporation to the extent the obligations are guaranteed by the Government National Mortgage Corporation or issued by any other Federal agency and backed by the full faith and credit of the United States of America.

(iv) Deposits in interest-bearing time or demand deposits, or certificates of deposit, fully insured by the Federal Deposit Insurance Corporation or its successor or the Federal Savings and Loan Insurance Corporation or its successor or fully secured by any of the obligations described above to the extent not so insured.

(v) Repurchase agreements relating to or investment agreements secured by, or providing for the acquisition and resale of, obligations described in subparagraphs

(i) through (iv) or obligations of Federal Home Loan Mortgage Corporation or Federal National Mortgage Association, with:

(A) banks or trust companies, including any banking entity or depository;

(B) brokers or broker-dealers registered under the Securities Exchange Act of 1934 (48 Stat. 881, 15 U.S.C. §§ 78a-78jj) acceptable to the authority; or

(C) insurance companies rated A+ or better by Best's having a net capital and surplus of at least $25,000,000 or certificates of deposit with banks or trust companies fully secured as to principal and accrued interest by obligations described in subparagraphs (i) through (iv) deposited with or subject to the control of the authority.

(vi) Money market deposit accounts of banks or trust companies having a net capital and surplus of at least $25,000,000, including any banking entity or depository.

(2) The description of authorized investments as set forth in paragraph (1)(v) and (vi) shall only be met if the agreements referenced in paragraph (1)(v) and (vi) provide for the repayment of the principal amount invested at an amount not less than that invested. Whenever security is required as set forth in paragraph (1)(iv) through (vi), security shall be deposited with the treasurer of the authority or be held by a trustee or agent satisfactory to the authority. Money of the authority shall be paid out on the warrant or other order of the chairman of the authority or of any other person the authority authorizes to execute the warrants or orders.

(e) Annual report to be filed; annual audits.--Within 90 days following the end of the fiscal year, an authority shall file an annual report with the Department of Community and Economic Development, the chairman and minority chairman of the Appropriations Committee of the Senate and the chairman and minority chairman of the Appropriations Committee of the House of Representatives and with the city which shall make provisions for the accounting of revenue and expenses. The authority shall have its books, accounts and records audited annually in accordance with generally accepted auditing standards by an independent auditor who shall be a certified public accountant

or competent public accountant, and a copy of the audit report shall be attached to and be made a part of the annual report. A concise financial statement shall be published annually in the Pennsylvania Bulletin. If the authority fails to make an audit, then the controller, auditors or accountants designated by the city are authorized to examine, at the expense of the authority, the accounts and books of the authority, including its receipts, disbursements, contracts, leases, sinking funds, investments and any other matters relating to its finances, operations and affairs.

(f) Power of inspection.--The Attorney General, Auditor General, Secretary of the Budget and the chairman and minority chairman of the Appropriations Committee of the Senate and the chairman and minority chairman of the Appropriations Committee of the House of Representatives shall have the right to examine the books, accounts and records of the authority. Cross References. Section 6012 is referred to in section 6006 of this title; section 17143 of Title 16 (Counties).
64 Pa.C.S. § 1543 — PA Code / Title 64 / Chapter 15 / Section 1543
Indebtedness.
Status: in_force

(a) General rule.--Subject to the limitations of subsection

(b), the authority may, in its own name, incur indebtedness, including through the issuance of bonds, in an amount necessary to fund the program as established in Subchapter E (relating to programs) and in 12 Pa.C.S. Ch. 29 (relating to machinery and equipment loans).

(b) Program limitations.--Indebtedness incurred by the authority under subsection (a) shall not, in aggregate, exceed any of the following:

(1) $300,000,000 for the program established in section 1551 (relating to Business in Our Sites Program).

(2) $150,000,000 for the program established in section 1552 (relating to First Industries Program).

(3) $60,000,000 for the program established in section 1557 (relating to New Pennsylvania Venture Capital Investment Program).

(4) $150,000,000 for the program established in section 1555 (relating to Building Pennsylvania Program).

(5) $75,000,000 for the program established in 12 Pa.C.S. Ch. 29.

(6) $250,000,000 for the program established in section 1554 (relating to New Pennsylvania Venture Guarantee Program).

(7) $100,000,000 for the program established in section 1556 (relating to Tax Increment Financing Guarantee Program).

(8) $50,000,000 for the program established in section 1553 (relating to Second Stage Loan Program).

(c) Fiscal year limitations.--

(1) Except as provided in subsection (d) and paragraphs

(2), (3) and (4), the aggregate amount of indebtedness incurred by the authority, including through the issuance of bonds, may not exceed $250,000,000 reduced by the aggregate amount of Commonwealth indebtedness incurred under 12 Pa.C.S. Ch. 39 (relating to water supply and wastewater infrastructure capitalization).

(2) Except as provided in subsection (d) and paragraphs

(3) and (4) and upon adoption of a resolution under subsection (f)(1), the aggregate amount of indebtedness incurred by the authority, including through the issuance of bonds, may not exceed $500,000,000 reduced by the aggregate amount of Commonwealth indebtedness incurred under 12 Pa.C.S. Ch. 39.

(3) Except as provided in subsection (d) and paragraph

(4) and upon adoption of a resolution under subsection

(f)(2), the aggregate amount of indebtedness incurred by the authority, including through the issuance of bonds, may not exceed $750,000,000 reduced by the aggregate amount of Commonwealth indebtedness incurred under 12 Pa.C.S. Ch. 39.

(4) Except as provided in subsection (d) and upon adoption of a resolution under subsection (f)(3), the aggregate amount of indebtedness incurred by the authority, including through the issuance of bonds, may not exceed $1,000,000,000 reduced by the aggregate amount of Commonwealth indebtedness incurred under 12 Pa.C.S. Ch. 39.

(d) Exception.--Subsection (c) shall not apply to the aggregate amount of indebtedness incurred by the authority, including through the issuance of bonds, for the following programs:

(1) The program established in section 1553.

(2) The program established in section 1554.

(3) The program established in section 1556.

(e) Certifications.--

(1) Beginning with fiscal year 2005-2006 and each fiscal year thereafter, after the final estimate required by section 618 of the act of April 9, 1929 (P.L.177, No.175), known as The Administrative Code of 1929, is signed for the fiscal year, the Secretary of the Budget shall certify to the board all of the following:

(i) Whether sufficient surplus revenues will exist in the General Fund for the two succeeding fiscal years immediately following the fiscal year for which the estimate was signed to pay any liabilities which would be incurred by the Commonwealth during those years if the authority incurs an additional $250,000,000 of indebtedness.

(ii) The aggregate amount of liabilities which would be incurred by the Commonwealth for the two succeeding fiscal years immediately following the fiscal year for which the estimate was signed which are a result of the activities by the authority.

(2) The Secretary of the Budget shall publish the certification in the Pennsylvania Bulletin as soon as possible.

(f) Increases.--

(1) After publication of the certification required by subsection (e) for the fiscal year 2005-2006, unless the Secretary of the Budget certifies under subsection (e) that the sufficient surplus revenues will not exist, the board may adopt a resolution authorizing the incurring of additional indebtedness subject to the limitation of subsection (c)(2). If the Secretary of the Budget certifies under subsection (e) that the sufficient surplus revenues will not exist, indebtedness of the authority shall remain subject to subsection (c)(1), and, upon publication of a certification under subsection (e) that sufficient surplus revenues will exist, the board may adopt a resolution authorizing the incurring of additional indebtedness subject to subsection (c)(2).

(2) For the fiscal year following the adoption of a resolution under paragraph (1), unless the Secretary of the Budget certifies under subsection (e) that the sufficient surplus revenues will not exist, the board may adopt a resolution authorizing the incurring of additional indebtedness subject to the limitation of subsection (c)(3). If the Secretary of the Budget certifies under subsection

(e) that the sufficient surplus revenues will not exist, indebtedness of the authority shall remain subject to subsection (c)(2), and, upon publication of a certification under subsection (e) that sufficient surplus revenues will exist, the board may adopt a resolution authorizing the incurring of additional indebtedness subject to subsection

(c)(3).

(3) For the fiscal year following the adoption of a resolution under paragraph (2), unless the Secretary of the Budget certifies under subsection (e) that the sufficient surplus revenues will not exist, the board may adopt a resolution authorizing the incurring of additional indebtedness subject to the limitation of subsection (c)(4). If the Secretary of the Budget certifies under subsection

(e) that the sufficient surplus revenues will not exist, indebtedness of the authority shall remain subject to subsection (c)(3), and, upon publication of a certification under subsection (e) that sufficient surplus revenues will

exist, the board may adopt a resolution authorizing the incurring of additional indebtedness subject to subsection

(c)(4). (Nov. 30, 2004, P.L.1708, No.218, eff. imd.) 2004 Amendment. Act 218 amended subsec. (c). Cross References. Section 1543 is referred to in section 1521 of this title.