reglab/statecodes huggingface dataset:
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 21 - Opportunity Grants › Section 2104 - Application

§ 2104. Application.
A person may submit an application to the department requesting a grant for a project. The application shall be on the form required by the department and shall include or demonstrate all of the following:
(1) The name and address of the applicant.
(2) A statement that the applicant is an eligible recipient under the program.
(3) A statement of the amount of grant sought.
(4) A statement of the project, including a detailed statement of the cost of the project.
(5) A statement identifying the economic impact of the project to the region and the estimated impact on State and local revenues.
(6) A commitment of private matching funds of at least $4 for every $1 of grant funds, and of the balance of funding for the entire project cost, from a responsible source.
(7) A commitment from the applicant to complete the project.
(8) Any other information required by the department.
Cross References.
Section 2104 is referred to in section 2105 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 21 - Opportunity Grants › Section 2106 - Approval

§ 2106. Approval.
The following shall apply:
(1) Upon being satisfied that all requirements have been met, the department may approve the application and award a grant.
(2) Prior to providing grant funds to the applicant, the department shall enter into a contract with the applicant. The contract shall include provisions requiring the applicant to use the grant to pay the costs of the project.
(3) The department may impose any other terms and conditions on the grants authorized by this chapter as the department determines is in the best interests of the Commonwealth, including a provision requiring collateral to secure repayment of any penalty imposed under the program.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 21 - Opportunity Grants › Section 2107 - Penalty

§ 2107. Penalty.
(a) Imposition.
--Except as provided in subsection (b), the department shall impose a penalty upon a recipient for any of the following:
(1) Failing to create the number of jobs specified in the recipient's application.
(2) Failing to inject the required amount of private matching funds into the project.
(3) Failing to operate at the project site for a minimum period of five years.
(b) Exception.
--The department may waive the penalty required by subsection (a) if the department determines that the failure was due to circumstances outside the control of the recipient.
(c) Amount.
--The amount of the penalty shall be equal to the full amount of the grant received plus an additional amount of up to 10% of the amount of the grant received. The penalty shall be payable in one lump sum or in installments, with or without interest, as the department deems appropriate.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 21 - Opportunity Grants › Section 2108 - Limitations

§ 2108. Limitations.
(1) An applicant may not receive a grant under this chapter for more than two consecutive fiscal years for the same project.
(2) A grant awarded under this chapter may not be used to do any of the following:
(i) Refinance or retire existing debt.
(ii) Pay costs unrelated to a project location at a site in this Commonwealth.
(3) In no case shall the aggregate amount of grants paid in any fiscal year under this chapter exceed the annual appropriation to the department for the program.
(4) A grant awarded under this chapter shall in no way constitute an entitlement derived from the Commonwealth or a claim on any other funds of the Commonwealth.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 21 - Opportunity Grants › Section 2109 - Guidelines

§ 2109. Guidelines.
The department shall develop written guidelines for the program. The guidelines shall do all of the following:
(1) Limit grant size for any single project.
(2) Clarify eligible uses of grants.
(3) Clarify standards for eligibility.
(4) Require geographic diversity of funded projects.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 23 - Small Business First › Extra - Chapter Notes

Enactment.
Chapter 23 was added February 12, 2004, P.L.99, No.12, effective immediately.
Cross References.
Chapter 23 is referred to in sections 1102, 1130, 1552 of Title 64 (Public Authorities
            and Quasi-Public Corporations).
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 23 - Small Business First › Section 2303 - Establishment

§ 2303. Establishment.
There is established a program to be known as the Small Business First Program. The program shall be administered by the authority and provide loans to eligible persons for certain projects which encourage job-creating and job-preserving economic development within this Commonwealth.
(Oct. 22, 2014, P.L.2569, No.161, eff. Nov. 1, 2014)
Cross References.
Section 2303 is referred to in section 2302 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 23 - Small Business First › Section 2305 - Authority responsibilities

§ 2305. Authority responsibilities.
(a) General rule.--
The authority shall do all of the following:
(1) Administer the program.
(2) Establish written guidelines as necessary. Any guidelines established shall be included in the report required by Chapter 3 (relating to economic development financing strategy).
(3) Deposit payments made by recipients in the fund or the Pollution Prevention Assistance Account, as appropriate.
(4) Approve standards for certified economic development organization application fees.
(5) (Deleted by amendment).
(6) Except as provided under section 2306(c)(iii) (relating to capital development loans), determine the job retention or job creation requirements for each project financed in whole or in part through a loan or line of credit made under this chapter.
(b) Program.--
In administering the program, the authority may do any of the following:
(1) Provide grants or other financial assistance to certified economic development organizations for any of the following purposes:
(i) To establish loan reserve funds.
(ii) To reimburse loan losses to commercial banks and other financial institutions as a means of encouraging the expansion and financing of small businesses.
(2) Apply to the Ex-Im Bank for delegated authority lender status under the Ex-Im Bank's Working Capital Guaranty Program.
(3) Utilize the outstanding portfolio of loans and lines of credit made under this chapter to raise additional funds by selling, securing, hypothecating or otherwise using such loan proceeds as a financing vehicle if the funds raised are used by the authority for either of the following purposes:
(i) To make new and additional loans under this chapter.
(ii) To pay costs associated with financing.
(c) Additional powers.--
In addition to the powers authorized under this chapter and 64 Pa.C.S. Ch. 11 (relating to Pennsylvania Industrial Development Authority), the board may administer the program by exercising the powers granted to it under the act of May 17, 1956 (1955 P.L.1609, No.537), known as the Pennsylvania Industrial Development Authority Act.
(Oct. 22, 2014, P.L.2569, No.161, eff. Nov. 1, 2014)
2014
Amendment.
Act 161 amended the section heading and subsecs. (a) intro. par. and (4), (b) intro. par., (1) and (3), added subsecs. (a)(6) and (c) and deleted subsec. (a)(5).
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 23 - Small Business First › Section 2307 - EDA loans

§ 2307. EDA loans.
(a) Application and administration procedures.--
The authority shall establish application and administration procedures to be used for EDA loans. The procedures shall be established by guidelines and shall conform in all respects to those procedures required or established by the Economic Development Administration for use of Federal funds under the Public Works and Economic Development Act of 1965 (Public Law 89-136, 42 U.S.C. § 3121 et seq.) and, if applicable, 64 Pa.C.S. § 1121 (relating to common application process).
(b) Eligibility for EDA loans.--
The authority shall establish eligibility requirements to be used for EDA loans. The requirements shall be established by guidelines and shall conform in all respects to those procedures required or established by the Economic Development Administration for use of Federal funds under the Public Works and Economic Development Act of 1965.
(Oct. 22, 2014, P.L.2569, No.161, eff. Nov. 1, 2014)
Cross References.
Section 2307 is referred to in section 2310.1 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 23 - Small Business First › Section 2310.1 - Delegation

§ 2310.1. Delegation.
For loans authorized under section 2306 (relating to capital development loans), 2307 (relating to EDA loans), 2308 (relating to loans in distressed communities), 2309 (relating to pollution prevention assistance loans) or 2310 (relating to export financing loans), the board may delegate the review and approval of applications totaling less than $200,000 to the authorized staff of the authority by adopting a resolution authorizing the delegation, subject to any conditions established by the board. The resolution must do all of the following:
(1) Enumerate the qualifications and training required for authority staff to be authorized to review and approve applications.
(2) Set loan guidelines and underwriting standards for the authorized staff to follow during the review and approval of applications.
(3) Require authorized staff to provide a monthly report to the board of all actions to a pending or approved application taken during the reporting period.
(Oct. 22, 2014, P.L.2569, No.161, eff. Nov. 1, 2014)
2014
Amendment.
Act 161 added section 2310.1.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 23 - Small Business First › Section 2311 - Reporting and inspection

§ 2311. Reporting and inspection.
(a) Inspection.--
An applicant or a recipient shall, upon request, permit authorized employees of the authority or its agent to inspect the plant, books and records of the applicant or recipient.
(b) Updating.--
An applicant or a recipient shall provide updated information to the authority and its agents if conditions change or to the extent that the information originally given becomes inaccurate or misleading.
(c) Periodic reports.--
A recipient shall provide the authority and its agents with such periodic financial reports as the authority may require until the loan is repaid in full.
(d) Financial and performance audits.--
An agent of the authority shall annually submit to the authority, at the agent's expense, an independent financial audit. If the audit reveals misconduct of a material nature on the part of the agent, the authority shall take appropriate action.
(Oct. 22, 2014, P.L.2569, No.161, eff. Nov. 1, 2014)
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 23 - Small Business First › Section 2312 - Limitations

§ 2312. Limitations.
No loans shall be recommended or approved if the proceeds of the loan could do any of the following:
(1) Cause, aid or assist directly in the relocation of any business operations from one part of this Commonwealth to another unless there is at least a 25% net increase in employment.
(2) Refinance any portion of the total cost of a capital development project, pollution prevention infrastructure or other existing loans or debt.
(3) Finance a capital development project or pollution prevention infrastructure located outside the geographic boundaries of this Commonwealth.
(4) Provide funds, directly or directly, for payment distribution or as loan owners, partners or shareholders of a small business, except as ordinary compensation for services rendered.
(5) Provide funds for speculation in real or personal property, whether tangible or intangible.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 29 - Machinery and Equipment Loans › Extra - Chapter Notes

Enactment.
Chapter 29 was added February 12, 2004, P.L.99, No.12, effective immediately unless
            otherwise noted.
Cross References.
Chapter 29 is referred to in sections 1102, 1130, 1513, 1543, 1544, 1552 of Title
            64 (Public Authorities and Quasi-Public Corporations).
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 29 - Machinery and Equipment Loans › Section 2901 - Scope

§ 2901. Scope.
This chapter relates to the Machinery and Equipment Loan Program.
Effective Date.
Section 6(1)(i) of Act 12 of 2004 provided that section 2901 shall take effect upon publication of the guidelines required by section 2912.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 29 - Machinery and Equipment Loans › Section 2902 - Definitions

§ 2902. Definitions.
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:
"Agent."
The term includes the Department of Community and Economic Development.
"Authority."
The Pennsylvania Industrial Development Authority organized and existing under the act of May 17, 1956 (1955 P.L.1609, No.537), known as the Pennsylvania Industrial Development Authority Act.
"Board."
The board of directors of the authority.
"Business enterprise."
A for-profit corporation, partnership or proprietorship. The term includes a medical facility.
"Farm commodity."
Any Pennsylvania-grown agricultural, horticultural, aquacultural, vegetable, fruit and floricultural product of the soil, livestock and meats, wools, hides, furs, poultry, eggs, dairy products, nuts, mushrooms, honey products and forest products.
"Fund."
The Machinery and Equipment Loan Fund created and established by this chapter.
"Medical facility."
An entity licensed as a hospital under the act of June 13, 1967 (P.L.31, No.21), known as the Public Welfare Code, or the act of July 19, 1979 (P.L.130, No.48), known as the Health Care Facilities Act.
"Normal agricultural operation."
The term shall have the same meaning as given to it in section 2 of the act of June 10, 1982 (P.L.454, No.133), entitled "An act protecting agricultural operations from nuisance suits and ordinances under certain circumstances."
"Production agriculture."
The management and use of a normal agricultural operation for the production of a farm commodity.
"Program."
The Machinery and Equipment Loan Program established under section 2903 (relating to establishment).
(Oct. 22, 2014, P.L.2569, No.161, eff. Nov. 1, 2014; June 22, 2017, P.L.202, No.7, eff. imd.)
2017 Amendment.
Act 7 added the def. of "agent."
2014
Amendment.
Act 161 added the defs. of "authority," "board" and "program."
Effective Date.
Section 6(1)(i) of Act 12 of 2004 provided that section 2902 shall take effect upon publication of the guidelines required by section 2912.
References in Text. The short title of the act of June 13, 1967, P.L.31, No.21, known as the Public Welfare Code, referred to in the definition of "medical facility," was amended by the act of December 28, 2015, P.L.500, No.92. The amended short title is now the Human Services Code.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 29 - Machinery and Equipment Loans › Section 2903 - Establishment

§ 2903. Establishment.
There is established a program to be known as the Machinery and Equipment Loan Program. The program shall be administered by the authority and provide loans to business enterprises for machinery and equipment.
(Oct. 22, 2014, P.L.2569, No.161, eff. Nov. 1, 2014)
Effective Date.
Section 6(1)(i) of Act 12 of 2004 provided that section 2903 shall take effect upon publication of the guidelines required by section 2912.
Cross References. Section 2903 is referred to in section 2902 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 29 - Machinery and Equipment Loans › Section 2904 - Machinery and Equipment Loan Fund

§ 2904. Machinery and Equipment Loan Fund.
(a) Creation.--
There is created a special account in the Treasury Department, to be known as the Machinery and Equipment Loan Fund, to which shall be credited all program appropriations made by the General Assembly, all proceeds from loan repayments and any and all other deposits, payments or contributions from any other source made available to the fund. The fund shall operate as a revolving fund whereby all appropriations, payments and interest made thereto may be applied and reapplied to the purposes of this chapter.
(b) Credits to fund.--
All appropriations, deposits and contributions made to the fund shall be immediately credited in full to the fund, and earnings on the moneys held in the fund shall also be credited to the fund for the purposes of this chapter.
Effective Date.
Section 6(1)(i) of Act 12 of 2004 provided that section 2904 shall take effect upon publication of the guidelines required by section 2912.
Cross References.
Section 2904 is referred to in sections 1102, 1544 of Title 64 (Public Authorities and Quasi-Public Corporations).
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 29 - Machinery and Equipment Loans › Section 2907 - Powers of authority

§ 2907. Powers of authority.
The authority shall have and may exercise all powers and authority necessary to the proper administration and implementation of this chapter and shall have the authority to adopt policies, procedures and guidelines and promulgate rules and regulations necessary to effectuate the provisions of this chapter. In addition to any powers authorized under this chapter and 64 Pa.C.S. Ch. 11 (relating to Pennsylvania Industrial Development Authority), the board may administer the program by exercising the powers granted to it under the act of May 17, 1956 (1955 P.L.1609, No.537), known as the Pennsylvania Industrial Development Authority Act.
(Oct. 22, 2014, P.L.2569, No.161, eff. Nov. 1, 2014)
Effective Date.
Section 6(1)(i) of Act 12 of 2004 provided that section 2907 shall take effect upon publication of the guidelines required by section 2912.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 29 - Machinery and Equipment Loans › Section 2908 - Reporting and inspection

§ 2908. Reporting and inspection.
(a) Inspection.--
Each business enterprise which applies for or receives assistance under this chapter shall, upon request, permit authorized employees of the authority or its agent to inspect the plant, books and records of the business enterprise.
(b) Updating.--
Each business enterprise shall update the information given to the authority in its application if conditions change or to the extent that the information given originally becomes inaccurate or misleading.
(c) Periodic reports.--
Each recipient of assistance under this chapter shall provide the authority with periodic financial reports as the authority may require until such time as the loan is paid off.
(Oct. 22, 2014, P.L.2569, No.161, eff. Nov. 1, 2014; June 22, 2017, P.L.202, No.7, eff. imd.)
2017 Amendment.
Act 7 amended subsec. (a).
Effective Date.
Section 6(1)(i) of Act 12 of 2004 provided that section 2908 shall take effect upon publication of the guidelines required by section 2912.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 29 - Machinery and Equipment Loans › Section 2909 - Nondiscrimination (Deleted by amendment)

§ 2909. Nondiscrimination (Deleted by amendment).
2014
Amendment.
Section 2909 was deleted by amendment October 22, 2014, P.L.2569, No.161, effective November 1, 2014.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 29 - Machinery and Equipment Loans › Section 2910 - Conflict of interest (Deleted by amendment)

§ 2910. Conflict of interest (Deleted by amendment).
2014
Amendment.
Section 2910 was deleted by amendment October 22, 2014, P.L.2569, No.161, effective November 1, 2014.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 29 - Machinery and Equipment Loans › Section 2911 - Reports to General Assembly

§ 2911. Reports to General Assembly.
(a) Annual reports.--
On or before September 1 of each year, the authority shall provide a report to the Secretary of the Senate and to the Chief Clerk of the House of Representatives. The report shall describe all relevant activities of the authority pursuant to this chapter and shall include the following:
(1) List of business enterprises receiving loans from the fund and the amounts and terms of this assistance.
(2) Loan amounts repaid. Information under this paragraph may be reported in the aggregate.
(3) Loans outstanding, balances due and any penalties imposed. Information under this paragraph may be reported in the aggregate.
(4) Jobs created by businesses receiving funds in previous years. Information under this paragraph may be reported in the aggregate.
(5) Other relevant information as determined by the authority.
(b) Availability of departmental reports.--
Reports prepared by the secretary under section 2906(e) (relating to application and administration) shall be made available upon request to members of the General Assembly.
(Oct. 22, 2014, P.L.2569, No.161, eff. Nov. 1, 2014)
Effective Date.
Section 6(1)(i) of Act 12 of 2004 provided that section 2911 shall take effect upon publication of the guidelines required by section 2912.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 29 - Machinery and Equipment Loans › Section 2912 - Guidelines

§ 2912. Guidelines.
The authority shall develop written guidelines for the implementation of this chapter.
(Oct. 22, 2014, P.L.2569, No.161, eff. Nov. 1, 2014)
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 30 - Pennsylvania Industrial Development Program › Section 3003 - Establishment

§ 3003. Establishment.
There is established within the authority a program to be known as the Pennsylvania Industrial Development Program. The program shall be administered by the authority to provide loans for industrial development projects, industrial parks and multiple-tenancy building projects, to increase employment levels and to improve the overall economic health of this Commonwealth.
Cross References.
Section 3003 is referred to in section 3002 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 30 - Pennsylvania Industrial Development Program › Section 3005 - Application

§ 3005. Application.
A certified economic development organization may submit an application for assistance under this chapter and under 64 Pa.C.S. § 1121(a) (relating to common application process). The application shall be on the form required by the authority and shall include or demonstrate all of the following, in addition to the contents required under 64 Pa.C.S. § 1121(b):
(1) A general description of the type, classes and number of employees employed or to be employed in the operation of the project.
(2) The cost or estimate of the cost of establishing the project. As used in this paragraph, the term "cost" shall include financing charges, including interest incurred before and during construction but shall not include the cost of any machinery, equipment or fixtures necessary for the project or the installation or maintenance of any of the machinery, equipment or fixtures.
(3) Financial statements of the applicant, proposed guarantors and any other party whose credit is significant to the approval of the financial assistance. By guideline, the authority may specify the period to be covered by the financial statements and whether they must be compiled, reviewed or prepared by a certified public accountant.
(4) Evidence of the arrangement made by the borrower for the financing of all costs of the project exceeding the amount to be financed by the authority.
(5) Evidence that the establishment of the project will not cause the removal of an industrial enterprise, manufacturing enterprise, research and development enterprise, agricultural producer or agricultural processor from one area of this Commonwealth to another area of this Commonwealth, as determined by the authority.
(6) Evidence that the proposed project location has undergone an environmental assessment.
(7) Any other information required by the authority.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 30 - Pennsylvania Industrial Development Program › Section 3006 - Loans for industrial development projects

§ 3006. Loans for industrial development projects.
The authority may contract to loan an amount not to exceed 50% of the cost of establishing an industrial development project, subject to the following conditions:
(1) Before making the loan, the authority shall determine that:
(i) the borrower is responsible to assume all obligations imposed by the authority in connection with the project, financial or otherwise, and to undertake the operation of the project; and
(ii) the borrower has obtained from other independent and responsible sources a firm commitment for any funds which, in addition to the loan and any other property or assets held by the borrower, are necessary for the completion and operation of the project.
(2) The authority shall determine the interest rate and repayment period of the loan.
(3) The loan must be evidenced by note of the borrower, and secured by a mortgage on the project for which the loan was made, subordinate only to the mortgage securing the first lien obligation issued to secure the commitment of funds provided to pay the cost of the project from the independent and responsible sources, and used in the financing of the project.
(4) The authority may require additional security as it may deem necessary.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 30 - Pennsylvania Industrial Development Program › Section 3007 - Loans for industrial parks

§ 3007. Loans for industrial parks.
The authority may contract to loan an amount not to exceed 75% of the cost of establishing an industrial park project, subject to the following conditions:
(1) The authority shall determine the interest rate and repayment period of the loan.
(2) The loan must be evidenced by note of the borrower and secured by a first mortgage on the industrial park or by participation in a first mortgage. If a Federal agency participates in the financing of the industrial park, the authority may take as security for its loan a mortgage on the industrial park which is second only to the mortgage given to the Federal agency.
(3) If the loan is secured by participation in a first mortgage on the industrial park, a portion of the loan, not to exceed 10% of the cost of the project, may be secured by a second mortgage on the industrial park which is second only to the participating first mortgage.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 30 - Pennsylvania Industrial Development Program › Section 3008 - Loans for multiple-tenancy building projects

§ 3008. Loans for multiple-tenancy building projects.
The authority may contract to loan an amount not to exceed 50% of the cost of establishing a multiple-tenancy building project, subject to the following conditions:
(1) The authority shall determine the interest rate and repayment period of the loan.
(2) The loan must be evidenced by note of the borrower and secured by a first mortgage or participation in a first mortgage on the multiple-tenancy building project.
(3) The authority may contract to loan an amount not to exceed 50% of the cost of the project if the loan is secured by a first mortgage or participation in a first mortgage on the project. If the loan is not secured by a first mortgage or participation in a first mortgage on the project, the authority may contract to loan an amount not to exceed 40% of the cost of the project.
(4) If the loan is secured by a participation in a first mortgage on the project, the authority may permit a portion of its loan, not to exceed 10% of the cost of the project, to be secured by a second mortgage on the project which is second only to the participating first mortgage.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 30 - Pennsylvania Industrial Development Program › Section 3009 - Reporting and inspection

§ 3009. Reporting and inspection.
(a) Inspection.--
An applicant or a recipient shall, upon request, permit authorized employees of the authority or its agent to inspect the plant, books and records of the applicant or recipient.
(b) Updating.--
An applicant or a recipient shall provide updated information to the authority and its agents if conditions change or to the extent that the information originally given becomes inaccurate or misleading.
(c) Periodic reports.--
A recipient shall provide the authority and its agents with periodic financial reports as the authority may require until the loan is repaid in full.
(d) Financial and performance audits.--
A recipient shall annually submit to the authority, at the recipient's expense, an independent financial audit. If the audit reveals misconduct of a material nature on the part of the recipient, the authority shall take appropriate action.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 30 - Pennsylvania Industrial Development Program › Section 3010 - Limitations

§ 3010. Limitations.
A loan may not be recommended or approved if the proceeds of the loan could do any of the following:
(1) Cause, aid or assist directly in the relocation of any business operations from one part of this Commonwealth to another unless there is at least a 25% net increase in employment.
(2) Refinance any portion of the total cost of an industrial development project, industrial park or multiple-tenancy building project or other existing loans or debt.
(3) Finance an industrial development project, industrial park or multiple-tenancy building project located outside the geographic boundaries of this Commonwealth.
(4) Provide funds, directly or indirectly, for payment distribution or as loan owners, partners or shareholders of a small business, except as ordinary compensation for services rendered.
(5) Provide funds for speculation in real or personal property, whether tangible or intangible.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 30 - Pennsylvania Industrial Development Program › Section 3011 - Job creation

§ 3011. Job creation.
The authority shall establish minimum levels of job creation for loans under this chapter, or a requirement that one new job be created for a certain amount of funds loaned. In establishing the minimum levels of job creation, the authority shall consider unemployment statistics, inflation, the authority's cash flow and the need to keep this Commonwealth and the businesses of this Commonwealth competitive. Notice of job creation requirements must be submitted to the Legislative Reference Bureau for publication in the Pennsylvania Bulletin.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 33 - Entertainment Economic Enhancement Program (Repealed) › Section 3301 - § 3311 - (Repealed)

2017 Repeal.
Chapter 33 (§§ 3301 - 3311) was added February 12, 2004, P.L.99, No.12, and repealed October 30, 2017, P.L.672, No.43, effective immediately. The subject matter can now be found in Subarticle E of Article XVII-D of the act of March 4, 1971, P.L.6, No.2, known as the Tax Reform Code of 1971.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 34 - Infrastructure and Facilities Improvement Program › Section 3403 - Establishment

§ 3403. Establishment.
There is established within the department a program to be known as the Infrastructure and Facilities Improvement Program. The program shall enhance the economic development of the Commonwealth by providing financial assistance in the form of multiyear grants to issuing authorities toward payment of debt service on projects.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 34 - Infrastructure and Facilities Improvement Program › Section 3404 - Application

§ 3404. Application.
An issuing authority may submit an application to the department requesting financial assistance for a project. The application must be on a form required by the department and must include all of the following:
(1) The name and address of the applicant.
(2) The name, address and state tax identification numbers of the project user.
(3) A description of the project. The description shall include all of the following:
(i) A detailed narrative describing the project and the project user.
(ii) A detailed statement of the cost of the project. The statement must include the amount and type of debt to be issued by the applicant for the project, the identity of the party responsible for repayment of the debt and the collateral or security to be provided.
(iii) A statement of the number of net new full-time jobs to be created by the project and the number of existing full-time jobs to be preserved by the project.
(4) A statement of the amount of grant funds being requested per year.
(5) A statement of the number of years a grant is being requested. If the applicant is requesting a grant for a project of a project user that is an industrial enterprise, retail enterprise, a research and development enterprise or a manufacturer, the request may not exceed ten years. If the applicant is requesting a grant for a project of a project user that is a hospital, convention center or hotel establishment, the request may not exceed 20 years.
(6) Financial information from the project user prepared or reported on by an independent certified public accountant projecting for the next three years all of the following:
(i) The sales or expected sales tax collected or to be collected by the project user from activities as a result of the project.
(ii) The expected hotel occupancy tax to be collected by the project user from activities as a result of the project.
(iii) The expected net increase in personal income tax withheld by the project user as an employer pursuant to Article III of the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, from activities as a result of the project.
(7) Evidence of a firm commitment from the project user to use the project upon completion.
(8) (Deleted by amendment).
(9) Any other information required by the department. (Nov. 30, 2004, P.L.1708, No.218, eff. imd.)
2004 Amendment.
Act 218 amended par. (5) and deleted par. (8).
Cross References.
Section 3404 is referred to in section 3402 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 34 - Infrastructure and Facilities Improvement Program › Section 3405 - Review

§ 3405. Review.
(a) Project review.
--Upon receiving a completed application, the department shall review the application to determine all of the following:
(1) That the cost of the project is reasonable.
(2) The number of net new full-time jobs created or to be created by the project and the number of existing full- time jobs to be preserved by the project.
(3) That a firm commitment from the project user to use the project upon completion exists.
(4) That the financing for the project identifies a party other than the Commonwealth that will be responsible for repayment of the debt.
(5) That the applicant submitted satisfactory financial information from the project user prepared or reported on by an independent certified public accountant.
(6) That the financing for the project does not pledge the full faith and credit of the Commonwealth.
(7) (Deleted by amendment).
(8) If the project was completed prior to the effective date of this section, that the project user is a retail enterprise.
(9) That the applicant and the project user complied with all other criteria established by the department.
(b) Financial review.
--
(1) Upon being satisfied that all requirements have been met, the department shall forward the application to the Office of the Budget and the Department of Revenue. The office, in conjunction with the Department of Revenue, shall review the application. Notwithstanding the provisions of section 353(f) of the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, the Department of Revenue may supply the department and the office with information concerning taxes owed or paid by a project user or for which a project user may otherwise be liable or with any other aspect of an applicant's tax liability. The office, in conjunction with the Department of Revenue, shall evaluate all of the following:
(i) The sales tax collected or expected to be collected by the project user pursuant to Article II of the Tax Reform Code of 1971 from activities as a result of the project.
(ii) The hotel occupancy tax to be collected by the project user pursuant to Article II of the Tax Reform Code of 1971 from activities as a result of the project.
(iii) The expected net increase in personal income tax withheld by the project user as an employer pursuant to Article III of the Tax Reform Code of 1971 from activities as a result of the project.
(2) The Office of the Budget may accept, reject or adjust the estimate of the amount of tax remitted or to be remitted to the Commonwealth by the project user from activities resulting from the project. (Nov. 30, 2004, P.L.1708, No.218, eff. imd.)
2004 Amendment.
Act 218 deleted subsec. (a)(7).
Cross References.
Section 3405 is referred to in section 3406 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 37 - Keystone Innovation Zones (Repealed) › Section 3701 - § 3708 - (Repealed)

2016 Repeal.
Chapter 37 (§§ 3701 - 3708) was added February 12, 2004, P.L.99, No.12, and repealed July 13, 2016, P.L.526, No.84, effective immediately. The subject matter can now be found in Article XIX-F of the act of March 4, 1971, P.L.6, No.2, known as the Tax Reform Code of 1971.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 39 - Water Supply and Wastewater Infrastructure Capitalization › Extra - Chapter Notes

Enactment.
Chapter 39 was added November 30, 2004, P.L.1708, No.218, effective immediately.
Cross References.
Chapter 39 is referred to in section 1543 of Title 64 (Public Authorities and Quasi-Public
            Corporations).
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 39 - Water Supply and Wastewater Infrastructure Capitalization › Section 3902 - Definitions

§ 3902. Definitions.
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."
A municipality, a municipal authority, industrial development corporation or an investor-owned water or wastewater enterprise that submits an application under 64 Pa.C.S. § 1558 (relating to Water Supply and Wastewater Infrastructure Program).
"Authority."
The Commonwealth Financing Authority established under 64 Pa.C.S. § 1511 (relating to authority).
"Cost of a water project."
Any of the following:
(1) Costs and expenses of acquisition of interests in land, infrastructure, buildings, structures, equipment, furnishings, fixtures and other tangible property which comprises the water project.
(2) Costs and expenses of construction, reconstruction, erection, equipping, expansion, improvement, installation, rehabilitation, renovation or repair of infrastructure, buildings, structures, equipment and fixtures which comprise the water project.
(3) Costs and expenses of demolishing, removing or relocating buildings or structures on lands acquired or to be acquired.
(4) Costs and expenses of preparing land for development.
(5) Costs and expenses of engineering services, financial services, accounting services, legal services, plans, specifications, studies and surveys necessary or incidental to determining the feasibility or practicability of the water project.
"Fund."
The Water Supply and Wastewater Treatment Fund established in section 3906(b) (relating to funds).
"Industrial development corporation."
An entity 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.
"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, which supplies water or provides wastewater services to the public for a fee.
"Sinking fund."
The Water Supply and Wastewater Treatment Sinking Fund established in section 3906(b) (relating to funds).
"Water project."
As that term is defined in 64 Pa.C.S. § 1504 (relating to definitions).
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 39 - Water Supply and Wastewater Infrastructure Capitalization › Section 3903 - Establishment

§ 3903. Establishment.
There is established within the department a program to be known as the Water Supply and Wastewater Infrastructure Capitalization Program. The program shall finance single-year or multiyear grants to municipalities and municipal authorities and loans to municipalities, municipal authorities, industrial development corporations and investor-owned water or wastewater enterprises for water projects which are approved by the authority, which, when completed, construct, expand or improve water and wastewater infrastructure and which are related to economic development.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 39 - Water Supply and Wastewater Infrastructure Capitalization › Section 3904 - Award of grants

§ 3904. Award of grants.
Upon being notified by the authority that a grant has been approved under 64 Pa.C.S. § 1558(c) (relating to Water Supply and Wastewater Infrastructure Program) for an applicant, the department shall enter into a contract with the applicant. The contract shall be for the amount approved by the authority, and if the grant provided for improvements on a site of a private facility that has or will be receiving additional economic development assistance or job creation tax credits from the Commonwealth, the contract shall include a provision that ensures that if the facility is closed or is sold within five years after the approval of the application, the Commonwealth shall request reimbursement of the grant and shall place a lien for that amount on the real property of that facility to remain on the real property until the Commonwealth receives reimbursement. Upon entering into a contract with the applicant, the department shall award the grant for the amount specified in the contract.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 39 - Water Supply and Wastewater Infrastructure Capitalization › Section 3905 - Award and administration of loans

§ 3905. Award and administration of loans.
(a) Award.
--
(1) Upon being notified that a loan has been approved under 64 Pa.C.S. § 1558(d) (relating to Water Supply and Wastewater Infrastructure Program) for an applicant, the department shall enter into a contract with the applicant. The contract shall be for the amount approved and shall specify the terms of the loan in accordance with all of the following:
(i) A loan shall be at an interest rate not to exceed 2%.
(ii) A loan shall be for a term not to exceed 20 years.
(2) Upon entering into a contract with the applicant, the department shall award the loan for the amount specified in the contract.
(b) Administration.
--Loans made under this section shall be administered by the department. Loan payments received by the department for a loan awarded under this section shall be deposited in the General Fund.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 12 - COMMERCE AND TRADE › Chapter 39 - Water Supply and Wastewater Infrastructure Capitalization › Section 3906 - Funds

§ 3906. Funds.
(a) Proceeds.
--Proceeds of the borrowing authorized by the electors pursuant to the act of February 12, 2004 (P.L.72, No.10), known as the Water and Wastewater Treatment Project Bond Act, shall be deposited in the fund.
(b) Fund.
--
(1) The Water Supply and Wastewater Treatment Fund is established as a restricted fund in the State Treasury.
(2) The fund shall be used in accordance with the following:
(i) $200,000,000 shall be used by the department to fund grants and loans in accordance with this chapter.
(ii) $50,000,000 shall be used by the Pennsylvania Infrastructure Investment Authority to finance projects of existing water and wastewater systems which, when complete, do any of the following:
(A) Repair, rehabilitate or modernize existing water or wastewater systems to meet environmental or public health standards.
(B) Eliminate existing combined or sanitary wastewater overflow problems.
(C) Construct water or wastewater infrastructure to improve public health or eliminate environmental concerns.
(D) Construct wastewater infrastructure utilizing nutrient reduction technology.
(c) Sinking Fund.
--The Water Supply and Wastewater Treatment Sinking Fund is established to make principal and interest payments under section 3907(d) (relating to Commonwealth indebtedness).
Cross References.
Section 3906 is referred to in section 3902 of this title.