Section 1605-W.1. Program administration.
(a) Authorization.--The agency is authorized to perform all necessary and convenient actions to implement the program.
(b) Application.--Qualified taxpayers may apply to the agency for program funding for an eligible project. The agency shall promulgate guidelines for applying for program funding under this section.
(c) Selection.--The agency shall review applications submitted for program funds and, in accordance with the procedures established in the agency guidelines, shall select and conditionally commit program funds to the eligible projects. Qualified taxpayers shall provide the agency with all program requirements necessary for closing and funding of the eligible project in a form and a timely manner as determined by the agency.
(d) Disbursement.--Funds shall be disbursed to the eligible project owner as determined by the agency.
(e) Monitoring and cost certification.--The agency shall establish procedures for the monitoring of the use of funds and for a cost certification process at the end of the construction or rehabilitation process.
(f) Agency guidelines.--Within 180 days of the effective date of this subsection, the agency shall perform the following:
(1) Adopt guidelines establishing the agency's priorities.
(2) Establish a method for:
(i) applying and distributing program funds;
(ii) the sale of the tax credits under section 1607-W.1;
(iii) achieving geographic diversity in the allocation of credits under this article; and
(iv) prioritizing projects that include at least 10% of units as affordable to individuals at not more than 30% of the median income for the area that includes the project.
(g) Notice and comment.--The agency shall transmit proposed guidelines, including a comment response document, to the Legislative Reference Bureau for publication in the next available issue of the Pennsylvania Bulletin and shall publish the guidelines and comment response document on the agency's publicly accessible Internet website for public comments no later than 45 days prior to adoption. All comments submitted to the agency in writing shall be public records and shall be incorporated into the comment response document.
(h) Report.--Within 90 days following the close of the first calendar year in which tax credits are made available, and by July 1 of each year thereafter, the agency, in consultation with the department, shall issue a report containing:
(1) A financial statement.
(2) An itemized list of the following:
(i) projects funded;
(ii) qualified taxpayers applying for tax credits; and
(iii) tax credit certificates issued.
(3) A description of other expenditures in the preceding calendar year.
(i) Submission of report.--The report under subsection (h) shall constitute a public record and shall be published on the agency's publicly accessible Internet website and submitted to the following:
(1) The Governor.
(2) The Auditor General.
(3) The chairperson and minority chairperson of the Urban Affairs and Housing Committee of the Senate.
(4) The chairperson and minority chairperson of the Housing and Community Development Committee of the House of Representatives.
(1605-W.1 added Nov. 12, 2025, P.L.156, No.45)