Bill Information

An Act amending the act of May 17, 1956 (1955 P. L. 1609, No. 537), known as the "Pennsylvania Industrial Development Authority Act," adding and amending certain definitions; permitting certain board members to designate others to exercise their powers as board members; providing for forfeiture of a board member's seat for unexcused absences from meetings; providing for certification of industrial development agencies; providing for financial statements of industrial development agencies; making editorial changes; providing for loans for industrial parks and multiple-tenancy building projects; authorizing the Authority to require additional security for loans; deleting a requirement that all loan repayments be deposited in the Industrial Development Fund; and requiring the Authority to promulgate regulations.