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Machinery and Equipment Loan Fund - 12 Pa. Cons. Stat. § 2904

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     § 2904.  Machinery and Equipment Loan Fund.
        (a)  Creation.--There is created a special account in the
     Treasury Department, to be known as the Machinery and Equipment
     Loan Fund, to which shall be credited all program appropriations
     made by the General Assembly, all proceeds from loan repayments
     and any and all other deposits, payments or contributions from
     any other source made available to the fund. The fund shall
     operate as a revolving fund whereby all appropriations, payments
     and interest made thereto may be applied and reapplied to the
     purposes of this chapter.
        (b)  Credits to fund.--All appropriations, deposits and
     contributions made to the fund shall be immediately credited in
     full to the fund, and earnings on the moneys held in the fund
     shall also be credited to the fund for the purposes of this
     chapter.

        Effective Date.  Section 6(1)(i) of Act 12 of 2004 provided
     that section 2904 shall take effect upon publication of the
     guidelines required by section 2912.
        Cross References.  Section 2904 is referred to in section
     1544 of Title 64 (Public Authorities and Quasi-Public
     Corporations).

Last modified: November 27, 2007