Section 5.2. Powers of the Authority; Certification of Industrial Development Agencies.--(a) The Authority shall have the power to review and certify all applications for industrial development agencies. The standards for certification shall be developed by regulation.
(b) Any agency that has been certified by the Authority shall be required to file an annual financial statement. After reviewing the financial statement, the Authority shall have the power to request an independent audit of the agency's records.
(5.2 added July 13, 1988, P.L.534, No.95)
Compiler's Note: Section 5107(b) of Act 67 of 1996 provided that the second sentence of section 5.2(a) is repealed insofar as it is inconsistent with Act 67.