§ 1515. New initiatives program
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 74 Pa.C.S.A. TransportationEffective: July 1, 2007
Effective: July 1, 2007
74 Pa.C.S.A. § 1515
§ 1515. New initiatives program
(b) Applications.--In addition to the information required under section 1507 (relating to application and approval process), an application for financial assistance under this section shall include all of the information required in an application for financial assistance under section 1514. If the application is for a proposed expansion of a capital project, the application shall also include evidence satisfactory to the department that the applicant will have sufficient future annual operating funds to support the proposed expansion.
(2) In awarding financial assistance under this section, the department shall give priority to applicants that intend to use the funds to satisfy the local matching portion of federally approved New Starts projects funded pursuant to 49 U.S.C. § 5309 (relating to capital investment grants and loans). The department may fund projects that do not receive funding from the Federal New Starts Program if the applicant can provide sufficient evidence that the project can meet all of the following requirements:
(d) Local match requirement.--Financial assistance under this section shall be matched by local or private cash funding in an amount not less than 3.33% of the amount of the financial assistance being provided. The source of funds for this local match shall be subject to the requirements of section 1513(d)(3) (relating to operating program).
Credits
2007, July 18, P.L. 169, No. 44, § 3, retroactive effective July 1, 2007.
74 Pa.C.S.A. § 1515, PA ST 74 Pa.C.S.A. § 1515
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document |