Section 1507 - Application and approval process(a) Application.--An eligible applicant that wishes to receive financial assistance under this chapter shall submit a written application to the department on a form developed by the department, which shall include the following:(1) The name and address of the applicant.(2) The name and telephone number of a contact person for the applicant.(3) The amount and type of financial assistance requested and the proposed use of the funds.(4) A statement as to the particular need for the financial assistance.(5) A certified copy of a current resolution authorizing submission of the application if the applicant is a governing body.(6) Evidence satisfactory to the department of the commitment for matching funds required under this chapter sufficient to match the projected financial assistance payments , provided no later than June 30 of the applicable fiscal year. If the evidence required under this paragraph is not provided to the satisfaction of the department, subsequent funding under section 1513 (relating to operating program) shall be withheld until the applicant meets the requirements of this paragraph.(6.1) A statement of policy outlining the basic principles for the adjustment of fare growth to meet the rate of inflation.(7) Any other information the department deems necessary or desirable.(b) Approval and award.--Upon determining that an applicant has complied with this chapter, applicable rules and regulations and any other requirement with respect to the financial assistance requested, the department may award financial assistance to the applicant. If the department awards financial assistance to the applicant, the department and the applicant shall enter into a financial assistance agreement setting forth the terms and conditions governing the use of the financial assistance and the timing of payment of the funds. The department shall develop guidelines for the application for and awarding of financial assistance under this chapter and shall forward them to the Legislative Reference Bureau for publication in the Pennsylvania Bulletin.(c)Restriction on use of funds.-- Unless the department grants the award recipient a waiver allowing the funds to be used for a different purpose, financial assistance under this chapter shall be used only for activities set forth under the financial assistance agreement .The department's regulations shall describe circumstances under which it will consider waiver requests and shall set forth all information to be included in a waiver request. The waiver request shall include a plan of corrective action to demonstrate that the award recipient does not have an ongoing need to use financial assistance funds for activities other than those for which funds were originally awarded. The duration of the waiver may not exceed the duration of the plan of corrective action. The department shall monitor implementation of the plan of corrective action. If the plan of corrective action is not implemented by the local transportation organization, the department shall rescind the waiver approval.Amended by P.L. 974 2013 No. 89, § 7, eff. 11/25/2013.2007, July 18, P.L. 169, No. 44, § 3, retroactive effective July 1, 2007.