Findings and declaration of policy - 64 Pa. Cons. Stat. § 1503

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     § 1503.  Findings and declaration of policy.
        The General Assembly finds and declares as follows:
            (1)  Activities which lead to the creation and retention
        of jobs within this Commonwealth, the establishment of
        economically viable Pennsylvania communities, the development
        of a stable tax base within Pennsylvania communities, the
        reuse of abandoned industrial, commercial and other
        previously utilized sites, the promotion and
        commercialization of Pennsylvania products and services and
        the investment of private capital in Pennsylvania enterprises
        and Pennsylvania communities will improve the health, safety
        and general welfare of the people of this Commonwealth by
        increasing employment of Pennsylvania workers, by developing
        a stable State economy, by revitalizing communities, by
        reducing, eliminating and preventing blight and eliminating
        certain environmental hazards.
            (2)  Many existing industrial, commercial and other
        economic activities throughout this Commonwealth could become
        more competitive and could expand more rapidly if additional
        means of financing were available for modern buildings, plant
        facilities, modern machinery and equipment and other capital
        needs. Additional activities could be attracted to this
        Commonwealth if additional means of financing were available
        to acquire, construct, rehabilitate and expand facilities.
        Financing for cost-saving activities related to buildings,
        plants, machinery and equipment and other facilities would
        further the purposes of this paragraph.
            (3)  A minimum level of unemployment and a maximum level
        of business opportunity can best be provided by the
        promotion, attraction, stimulation, rehabilitation and
        revitalization of industrial, commercial, technological,
        tourist, agricultural and other economic activities in this
        Commonwealth. The promotion of these activities will also
        enhance Pennsylvania's competitiveness in the global economy.
            (4)  The provisions of the Constitution of Pennsylvania
        guaranteeing the residents of this Commonwealth clean air and
        water and the preservation of the environment and the
        implementation of those provisions through the establishment
        of quality standards relating to abatement or elimination of
        pollution have resulted in the need for additional means of
        financing to assist and encourage compliance with standards
        on air, water, solid and liquid waste disposal, sewage
        disposal and pollution control.
            (5)  Industrial and commercial facilities should be
        promoted, whether by the financing of these facilities or by
        the encouragement of other activities deemed appropriate
        which will eliminate blight or otherwise improve an area for
        industrial, commercial or other economic activity.
            (6)  To protect the health, safety and general welfare of
        the people of this Commonwealth and to further encourage
        economic development and efficiency within this Commonwealth
        by providing basic services and facilities, it is necessary
        to provide additional or alternative means of financing
        infrastructure facilities, transportation systems, industrial
        parks, energy conversion facilities, facilities for the
        furnishing of energy, water and telecommunications,
        facilities for the collection or treatment of wastewater and
        storm water, tourism, parking facilities, health care
        facilities and other basic service and related facilities
        which are conducive to economic activity within this
        Commonwealth and which are consistent with the purposes of
        this chapter.
            (7)  To protect the health, safety and general welfare of
        the people of this Commonwealth, it is desirable to build,
        improve and finance facilities owned by municipalities,
        municipal authorities and other authorities and
        instrumentalities of the Commonwealth, including publicly
        owned roads and other transportation systems and waste
        treatment and disposal facilities.
            (8)  Industrial, commercial, technological, tourist,
        agricultural and other economic activity should be promoted
        through the development of new businesses and the expansion
        of existing businesses, the revitalization of real estate
        assets, the acquisition and preparation of sites for future
        use and the support of tax increment financing.
            (9)  It is the policy of this Commonwealth to promote the
        health, safety, employment, business opportunities, economic
        activity and general welfare of the people by:
                (i)  establishing an authority to exist and operate
            as a public instrumentality of the Commonwealth; and
                (ii)  establishing the programs under this chapter
            and authorizing financial assistance, regardless of
            whether the applicant or the project user is public or
            private or whether the project is undertaken with a
            profit or not-for-profit purpose.

Last modified: November 27, 2007