H2503B3712A07056       VDL:JB  05/14/08    #90             A07056
                       AMENDMENTS TO HOUSE BILL NO. 2503
                                    Sponsor:  REPRESENTATIVE BOYD
                                           Printer's No. 3712

     1       Amend Sec. 2 (Sec. 2913), page 5, lines 1 through 16, by
     2    striking out all of said lines and inserting
     3       (a)  Review of application.--Prior to the review and
     4    investigation of an application submitted under section 2906
     5    (relating to application and administration), the secretary may
     6    forward the application to the authority to be reviewed and
     7    investigated by the authority for a possible loan from the
     8    authority in lieu of a loan from the department under this
     9    chapter.
    10       (b)  Loans from authority.--In addition to the powers of the
    11    authority under the PIDA Act, the authority is authorized to
    12    make loans meeting the eligibility and other requirements of
    13    this chapter.
    14       (c)  Minimum loan amount.--
    15           (1)  Except as set forth in paragraph (2), no less than
    16       25% of the amount loaned by the authority in a single fiscal
    17       year must meet the requirements of section 2905 (relating to
    18       eligibility for loans; terms and conditions).
    19           (2)  If the total of applications under this chapter are
    20       eligible for less than 25% of the amount loaned by the
    21       authority in a single fiscal year, unused funds may be loaned
    22       by the authority in accordance with the PIDA Act.
    23       (d)  Requirements.--A recipient of any loan made under this
    24    section shall be subject to the requirements of this chapter as
    25    though the secretary made the advances for the loan under
    26    section 2905(a).
    27       (e)  Repayment.--Repayments of loans made by the authority
    28    with funds transferred to the authority under section 2904(c)
    29    (relating to Machinery and Equipment Loan Fund) shall be made
    30    directly to the authority.