Statutes, codes, and regulations
Pennsylvania Code (Rules and Regulations)
Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENTPart III - Business FinancingSubpart B - Bonds
Chapter 61 - PRIVATE ACTIVITY BONDS-STATEMENT OF POLICY
Section 61.1 - Definitions

12 Pa. Code § 61.1

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Current through Register Vol. 54, No. 49, December 7, 2024
Section 61.1 - Definitions

The following words and terms, when used in this chapter, have the following meanings, unless the context clearly indicates otherwise:

Act-The Tax-Exempt Bond Allocation Act (73 P. S. §§ 397.1-397.8).

Enterprise zone-An area certified by the Secretary under 12 Pa. Code Chapter 121 (relating to enterprise zone program-statement of policy). The term includes an area designated as a full zone as well as a planning zone.

Exempt facility-A project which is determined by the Federal government not to be subject to small issue project limitations. Examples are airports and waste disposal facilities.

IDA Law-The Industrial and Commercial Development Authority Law (73 P. S. §§ 371-385).

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 is one of the following:

(i) Being relocated from within this Commonwealth.
(ii) Created by the construction of the project.
(iii) Not intended to be permanent.

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

Unused tax-exempt bond authority-The total tax-exempt bond allocation for the Commonwealth, minus the amount allocated to approved projects as of a particular date.

12 Pa. Code § 61.1

The provisions of this § 61.1 adopted January 10, 1986, effective 1/1/1986, 16 Pa.B. 129; amended January 30, 1987, effective retroactively to January 1, 1987, 17 Pa.B. 571.