Section 400.2703 - Selection of projects(a) Criteria.--In selecting projects for allocation of the tax-exempt bond authority of the Commonwealth, the department shall endeavor to best serve the purposes set forth in section 2701 in accordance with the requirements of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 1 et seq.). In so doing, the secretary may, among other things, consider all of the following: (1) The number of net new jobs to be created and the number of jobs to be preserved.(2) The economic distress of the county, municipality or region as determined by its employment.(3) The geographical diversity within this Commonwealth.(4) The amount of private funds to be leveraged by the tax-exempt bond financing.(5) Coordination with community and economic development plans of the Commonwealth and its counties, municipalities and regions.(6) Whether the community has been designated a Federal disaster relief area or the community's business district has been significantly damaged as a result of fire or natural disaster.(b) Tax-exempt bond authority set-aside.--Either at the beginning of or at any time during the course of each year, the department may set aside such tax-exempt bond authority as the department, in consultation with the Secretary of the Budget, determines for use during the year for the various categories of tax-exempt bonds such as manufacturing facilities, enterprise zone facilities, exempt facilities, mortgage revenue bonds, student loan bonds, first-time farmers and redevelopment bonds.1996, June 29, P.L. 434, No. 67, § 2703, added 1998, Nov. 17, P.L. 788, No. 100, § 10, imd. effective. Amended 2002, Dec. 9, P.L. 1682, No. 213, § 3.2, imd. effective.