The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise:

“Agency.” An agency organized by the Commonwealth and authorized by the laws of the Commonwealth to issue tax-exempt bonds. The term includes the Pennsylvania Economic Development Financing Authority, The Pennsylvania Industrial Development Authority, the Pennsylvania Housing Finance Agency and the Pennsylvania Higher Education Assistance Agency.

“Department.” The Department of Community and Economic Development of the Commonwealth.

“Enterprise zone facility.” A project which may be financed with an enterprise zone facility bond.

“Enterprise zone facility bond.” As defined in section 1394 of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 1394).

“Exempt facility.” A project which may be financed with an exempt facility bond. The term includes any of the following which meets the requirements of section 142 of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 142):

“Exempt facility bond.” As defined and described in sections 142 and 1394 of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. §§ 142 and 1394).

“First-time farmer.” As defined in section 147(c)(2)(C) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 147(c)(2)(C)).

“Manufacturing facility.” A project which may be financed with a qualified bond small issue under section 144(a) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 144(a)).

“Mortgage revenue bond.” A tax-exempt qualified mortgage bond used to finance a single-family mortgage loan and a mortgage credit certificate, within the meaning of section 143(a) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 143(a)).

“Net new job.” A full-time job, or its equivalent, which increases the number of jobs at the project site above the number of jobs present before the project is started. The term does not include a job which:

“Project.” An activity for which tax-exempt bonds may be used.

“Qualified local issuer.” An authority organized by and authorized under State law to issue tax-exempt bonds on behalf of a county or other political subdivision for a project and a purpose described in section 2701.

“Redevelopment bond.” As defined in section 144(c) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 144(c)).

“Secretary.” The Secretary of Community and Economic Development of the Commonwealth.

“Student loan bond.” As defined in section 144(b) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 144(b)).

“Tax-exempt bonds.” Private activity bonds and other obligations which count against the unified volume ceiling of the Commonwealth under section 146 of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 146).

“Unused tax-exempt bond authority.” The total tax-exempt bond allocation for the Commonwealth for a year minus the amount which has: