Title 12, COMMERCE AND TRADE

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 obligat…

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…

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 evidence…

(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 a…

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 employm…

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, …