12 Pa.C.S. Ch. 3

in effect

12 Pa.C.S. § 3 Construction and application of law.

In applying and construing 12 Pa.C.S. Ch. 53, comments or reports of the type referred to in 1 Pa.C.S. § 1939 shall control in the event of a conflict between such comments or reports and the policy of uniformity provided under 1 Pa.C.S.

12 Pa.C.S. § 301 Scope.

This chapter relates to the development of an annual economic development financing strategy.

12 Pa.C.S. § 302 Definitions.

The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise: "Economic development program." A program which is administered by the department, including programs administered or staffed by the department, and which provides financial assistance for economic development to persons. The term includes all of the following: (1) Any program created under Part III (relating to economic development programs). (2) Any program of an entity created under 64 Pa.C.S. Pt. II (relating to economic development financing). (3) The Pennsylvania Industrial Development Authority. (4) The Pennsylvania Minority Business Development Authority. (5) The Infrastructure Development Program. (6) The Industrial Sites Reuse Program. (7) The tax credit programs established in Articles XVII-B and XVIII-B of the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971. (Oct. 22, 2014, P.L.2569, No.161, eff. 60 days)

12 Pa.C.S. § 303 Development.

The department shall annually develop a report containing a financing strategy for economic development within this Commonwealth. In developing the report, the department shall gather input and recommendations from businesses, community leaders and organizations, legislators and private citizens. The report shall include all of the following: (1) A financial audit or statement of operations for each economic development program. (2) A narrative description of accomplishments for each economic development program during the preceding fiscal year. (3) A detailed description of the parameters of operation for the economic development programs during the upcoming fiscal year. The description shall include the terms and conditions under which the economic development programs shall be administered. (4) A description of the performance measurements and accountability factors to be applied and the performance targets or goals to be met for each economic development program. (5) A description of long-range planning for the economic development programs through the next five fiscal years. (6) A list of the loans, grants or credits approved for the economic development programs during the fiscal year. The list shall include a brief description of and details regarding each loan, grant or credit approved, including penalties imposed by the department. (7) A review of pending projects.

12 Pa.C.S. § 304 Oversight.

Concurrent with the submission of the Governor's annual budget message, the department shall submit the report required by this chapter to all of the following: (1) The Secretary of the Senate. (2) The chairperson of the Appropriations Committee of the Senate. (3) The Chief Clerk of the House of Representatives. (4) The chairperson of the Appropriations Committee of the House of Representatives.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.palegis.us/statutes/consolidated/view-statute?txtType=HTM&ttl=12Fetched: 10/16/2026