Restrictions on funding

Act 116 of 1996, § 11, under INFRASTRUCTURE DEVELOPMENT ACT.

Act 116 of 1996, § 11

Section 11. Restrictions on funding.

(a) Counties.--No more than 20% of funds available under the Infrastructure Development Program in any fiscal year shall be loaned or granted for projects in any county.

(b) Certain green field projects.--No more than 10% of the funds available under the Infrastructure Development Program in any fiscal year shall be loaned or granted to applicants for green field projects not involving private companies.

(c) Dollar amount.--No individual grant, grant-to-loan or loan shall exceed $1,250,000.

(d) Former industrial sites.--A minimum of 20% of the funds available under the Infrastructure Development Program in any fiscal year shall be approved for a grant, grant-to-loan or loan for projects located on a former industrial site.