Section 860.703 - Powers and duties of departmentIn addition to the powers and duties conferred upon the department under other provisions of law, the department shall have the power and duty to:
(1) Lend money for the purposes authorized by this chapter over a term of years, but in no case in excess of 15 years.(2) Accept grants from the Federal Government and any person, agency or government for use in the Max Manufacturing Endeavor Loan Fund.(3) Prescribe the form of the application for a loan under this chapter in accordance with the published guidelines.(4) Advise an applicant regarding the financial ability of the applicant to purchase specialized equipment or integrated systems or to purchase, construct, renovate or rehabilitate facilities for a shared infrastructure project.(5) Require security for a loan, if determined to be necessary.(6) Specify priority of liens against a facility or equipment purchased by an applicant using money loaned under this chapter, if determined to be necessary.(7) Establish a schedule that provides at least an annual opportunity for applicants to apply for and receive loans.Added by P.L. (number not assigned at time of publication) 2024 No. 24,§ 703, eff. 6/13/2024.