2012 Pennsylvania Consolidated Statutes
Title 12 - COMMERCE AND TRADE
Chapter 34 - Infrastructure and Facilities Improvement Program
Section 3404 - Application

     § 3404.  Application.
        An issuing authority may submit an application to the
     department requesting financial assistance for a project. The
     application must be on a form required by the department and
     must include all of the following:
            (1)  The name and address of the applicant.
            (2)  The name, address and state tax identification
        numbers of the project user.
            (3)  A description of the project. The description shall
        include all of the following:
                (i)  A detailed narrative describing the project and
            the project user.
                (ii)  A detailed statement of the cost of the
            project. The statement must include the amount and type
            of debt to be issued by the applicant for the project,
            the identity of the party responsible for repayment of
            the debt and the collateral or security to be provided.
                (iii)  A statement of the number of net new full-time
            jobs to be created by the project and the number of
            existing full-time jobs to be preserved by the project.
            (4)  A statement of the amount of grant funds being
        requested per year.
            (5)  A statement of the number of years a grant is being
        requested. If the applicant is requesting a grant for a
        project of a project user that is an industrial enterprise,
        retail enterprise, a research and development enterprise or a
        manufacturer, the request may not exceed ten years. If the
        applicant is requesting a grant for a project of a project
        user that is a hospital, convention center or hotel
        establishment, the request may not exceed 20 years.
            (6)  Financial information from the project user prepared
        or reported on by an independent certified public accountant
        projecting for the next three years all of the following:
                (i)  The sales or expected sales tax collected or to
            be collected by the project user from activities as a
            result of the project.
                (ii)  The expected hotel occupancy tax to be
            collected by the project user from activities as a result
            of the project.
                (iii)  The expected net increase in personal income
            tax withheld by the project user as an employer pursuant
            to Article III of the act of March 4, 1971 (P.L.6, No.2),
            known as the Tax Reform Code of 1971, from activities as
            a result of the project.
            (7)  Evidence of a firm commitment from the project user
        to use the project upon completion.
            (8)  (Deleted by amendment).
            (9)  Any other information required by the department.
     (Nov. 30, 2004, P.L.1708, No.218, eff. imd.)

        2004 Amendment.  Act 218 amended par. (5) and deleted par.
     (8).
        Cross References.  Section 3404 is referred to in section
     3402 of this title.