§ 2304. Fund and accounts
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 12 Pa.C.S.A. Commerce and TradeEffective: November 1, 2014
Effective: November 1, 2014
12 Pa.C.S.A. § 2304
§ 2304. Fund and accounts
(a) Fund.--The Small Business First Fund, created under section 1302(a) of the act of June 29, 1996 (P.L. 434, No. 67),1 known as the Job Enhancement Act, is continued. The Treasury Department shall credit the following to the fund:
(3) Transfers from the Hazardous Sites Cleanup Fund as established in section 602.3 of the act of March 4, 1971 (P.L. 6, No. 2),2 known as the Tax Reform Code of 1971.
(2) Money from the fund derived from appropriations specified for export financing assistance may be deposited by the authority in banks or trust companies in special accounts. The special accounts must be continuously secured by a pledge of direct obligations of the United States or of the Commonwealth having an aggregate market value, exclusive of accrued interest, at least equal to the balance on deposit in the account. The securities shall be deposited with the authority to be held by a trustee or agent satisfactory to the authority. Banks and trust companies are authorized to give security under this paragraph. Money in these special accounts shall be paid out on order of the authority.
(d) Use of Pollution Prevention Assistance Account.--Money in the Pollution Prevention Assistance Account may be used by the authority to provide loans to small businesses for the adoption or installation of pollution-prevention or energy-efficient equipment or processes in accordance with section 2309 (relating to pollution prevention assistance loans).
Credits
2004, Feb. 12, P.L. 99, No. 12, § 2, imd. effective. Amended 2014, Oct. 22, P.L. 2569, No. 161, § 2, effective Nov. 1, 2014.
12 Pa.C.S.A. § 2304, PA ST 12 Pa.C.S.A. § 2304
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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