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§ 400.2507. Authority loans

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 73 P.S. Trade and Commerce

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 73 P.S. Trade and Commerce (Refs & Annos)
Chapter 12R. Job Enhancement Act (Refs & Annos)
Chapter 25. Community Development Bank Grant and Loan Program
73 P.S. § 400.2507
§ 400.2507. Authority loans
Currentness
The authority may make loans to eligible institutions from moneys appropriated to the program on such terms and conditions as the authority may determine. Loans shall be made by the authority pursuant to the act of August 23, 1967 (P.L. 251, No. 102),1 known as the Economic Development Financing Law. Loans shall be made and used in a manner consistent with the requirements of the Community Development Banking and Financial Institutions Act of 1994 (Public Law 103-325, 108 Stat. 2163) or any successor thereto. Loans to eligible institutions may be made by the authority as the sole lender or in cooperation with participating investors pursuant to agreements entered into in accordance with this chapter. Loan repayments shall be used by the authority to make new loans to eligible institutions.

Credits

1996, June 29, P.L. 434, No. 67, § 2507, added 1998, Nov. 17, P.L. 788, No. 100, § 10, imd. effective.

Footnotes

1
73 P.S. § 371 et seq.
73 P.S. § 400.2507, PA ST 73 P.S. § 400.2507
Current through Act 4 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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