Section 1602-K. Transfers of funds.
The authority shall make all of the following transfers:
(1) $50,000,000 from the First Industries Program account established under 64 Pa.C.S. § 1542(b) (relating to revolving loan program accounts) to the Business In Our Sites Program account established under 64 Pa.C.S. § 1542(a), subject to the provisions of any pledge to or agreement made by the authority with or for the benefit of obligees of the authority.
(2) $25,000,000 from the trust account established under 64 Pa.C.S. § 1541 (relating to trust accounts) for the Building Pennsylvania program to the Business In Our Sites Program account established under 64 Pa.C.S. § 1542(a), subject to the provisions of any pledge to or agreement made by the authority with or for the benefit of obligees of the authority.
(3) In fiscal year 2018-2019, $10,000,000 from the First Industries Program account established under 64 Pa.C.S. § 1542(b) to the Business In Our Sites Program account established under 64 Pa.C.S. § 1542(a), subject to the provisions of any pledge to or agreement made by the authority with or for the benefit of obligees of the authority.
(4) In fiscal year 2018-2019, $35,000,000 from the trust account established under 64 Pa.C.S. § 1541 for the Building Pennsylvania program to the Business In Our Sites Program account established under 64 Pa.C.S. § 1542(a), subject to the provisions of any pledge to or agreement made by the authority with or for the benefit of obligees of the authority.
(1602-K amended June 22, 2018, P.L.281, No.42)