Section 8811-F - Innovate in PA Program(a)Establishment.--The Innovate in PA Program is established within the authority.(b) Fund.--The authority shall have the power and duty to establish the Innovate in PA Fund within this authority.(c)Distribution.--The department shall distribute the net proceeds received by the department as a result of the sale of tax credits under section 1805-F(a) as follows: (1) Fifty percent shall be distributed to the Ben Franklin Technology Partners Program for use according to program guidelines.(2) Forty-five percent shall be distributed to the Venture Investment Program for use according to program guidelines, including traditional venture investments or impact investments. The authority may consider impact investments based on performance. Impact investments may not exceed 15% of the Venture Investment Program distribution under this paragraph.(3) Five percent to the three regional biotechnology research centers for distribution in equal proportions to each regional biotechnology research center.Added by P.L. 270 2013 No. 52, § 32, eff. 7/9/2013.