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§ 2312. Limitations

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 12 Pa.C.S.A. Commerce and TradeEffective: February 12, 2004

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 12 Pa.C.S.A. Commerce and Trade (Refs & Annos)
Part III. Economic Development Programs
Chapter 23. Small Business First (Refs & Annos)
Effective: February 12, 2004
12 Pa.C.S.A. § 2312
§ 2312. Limitations
Currentness
No loans shall 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 employment.
(2) Refinance any portion of the total cost of a capital development project, pollution prevention infrastructure or other existing loans or debt.
(3) Finance a capital development project or pollution prevention infrastructure located outside the geographic boundaries of this Commonwealth.
(4) Provide funds, directly or directly, for payment distribution or as loan owners, partners or shareholders of a small business, except as ordinary compensation for services rendered.
(5) Provide funds for speculation in real or personal property, whether tangible or intangible.

Credits

2004, Feb. 12, P.L. 99, No. 12, § 2, imd. effective.
12 Pa.C.S.A. § 2312, PA ST 12 Pa.C.S.A. § 2312
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document