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Definitions - 64 Pa. Cons. Stat. § 1504Legal Research Home > Pennsylvania Statutes Sponsored Links
§ 1504. Definitions.
The following words and phrases when used in this chapter
shall have the meaning given to them in this section unless the
context clearly indicates otherwise:
"Agriculture." Any of the following:
(1) Production agriculture.
(2) Agribusiness.
(3) The sale of farm commodities at wholesale.
(4) The sale of farm commodities at retail by urban and
rural supermarkets located or to be located in underserved
areas.
(5) Farmers' markets.
(6) Energy-related activities impacting production
agriculture or agribusiness.
(7) Activities which implement best practices related to
agricultural waste, agricultural waste products, agricultural
by-products or fertilizer.
(8) Any other activity deemed by the Commonwealth
Financing Authority to involve agriculture.
"Applicant." A person that submits an application in
accordance with Subchapter E (relating to programs).
"Authority." The Commonwealth Financing Authority
established in section 1511 (relating to authority).
"Board." The board of the Commonwealth Financing Authority
established in section 1512 (relating to board).
"Bonds." Bonds, notes, instruments, refunding notes and
bonds and other evidences of indebtedness or obligations which
the authority is authorized to issue pursuant to this chapter.
"Commercial lending activities." The making of loans and the
provision of deposit services to business entities.
"Commercial lending institutions." A federally chartered or
state-chartered bank, savings bank or savings and loan
association which has a satisfactory rating from its primary
regulator and which is engaged in commercial lending activities.
The institution must operate at least one full-service branch
for deposit gathering and lending located within this
Commonwealth.
"Commonwealth agency." An agency, authority or other
instrumentality of the Commonwealth.
"Community development financial institution." A community
development financial institution certified in accordance with
the Community Development Banking and Financial Institutions Act
of 1994 (Public Law 103-325, 108 Stat. 2163).
"Comprehensive county plan" or "comprehensive municipal
plan." The comprehensive plan adopted pursuant to applicable
law by:
(1) A county or a municipality.
(2) A city of the first class.
(3) A city of the second class.
"Cost of the project" or "cost." Any of the following:
(1) Costs and expenses of acquisition of interests in
land, infrastructure, buildings, structures, equipment,
furnishings, fixtures and other tangible or intangible
property, which comprise the project.
(2) Costs and expenses of construction, reconstruction,
erection, equipping, expansion, extension, improvement,
installation, rehabilitation, renovation or repair of the
buildings, structures and equipment, which comprise the
project.
(3) Costs and expenses of demolishing, removing or
relocating buildings or structures on lands acquired or to be
acquired and the expense of acquiring land to which the
buildings or structures may be moved or relocated.
(4) Costs and expenses of preparing land for
development.
(5) Costs and expenses of engineering services,
financial services, accounting services and legal services,
plans, specifications, studies and surveys necessary or
incidental to determining the feasibility or practicability
of the project.
(6) Working capital or other capital needs related to
the project.
(7) Other costs and expenses deemed necessary by the
Commonwealth Financing Authority.
"Department." The Department of Community and Economic
Development of the Commonwealth.
"Executive agency." The Governor and the departments,
boards, commissions, authorities and other officers and agencies
of the Commonwealth. The term does not include any court or
other officer or agency of the Unified Judicial System, the
General Assembly and its officers and agencies, an independent
agency or a State-affiliated entity.
"Farm commodities." Agricultural, horticultural,
aquacultural, vegetable, fruit and floricultural products of the
soil; livestock and meats; wools; hides; furs; poultry, eggs,
dairy products, nuts, mushrooms, honey products and forest
products.
"Farmer." A person engaged in the business of production
agriculture.
"Federal agency." The United States of America, the
President of the United States of America, the Congress and any
department, corporation, agency or instrumentality designated or
established by the United States of America.
"Finance." The term shall have the broadest possible
meaning. The term includes refinance.
"Financial assistance." Loans, grants, guarantees, sales,
leases, investments authorized in Subchapter E (relating to
programs), lines of credit, letters of credit and other
financial arrangements which the Commonwealth Financing
Authority is authorized to undertake under Subchapter E
(relating to programs).
"Financing." The term shall have the broadest possible
meaning. The term includes refinancing.
"Fund manager." An organization which has as its primary
purpose the managing of capital for real estate investments.
"Government agency." A Commonwealth agency; the Unified
Judicial System and its courts, officers and agencies; the
General Assembly and its officers and agencies; a political
subdivision; a municipal authority or other local authority; a
local, regional or metropolitan transportation authority; or a
board, commission or other agency or instrumentality of a
political subdivision, a municipal authority or other local
authority.
"Governing body." The body or board authorized by law to
enact ordinances or adopt resolutions for a political
subdivision.
"Independent agency." A board, commission or other agency or
officer of the Commonwealth which is not subject to the policy,
supervision and control of the Governor. The term does not
include a State-affiliated entity, any court or other officer or
agency of the Unified Judicial System, the General Assembly and
its officers and agencies, a State-related institution, a
political subdivision or a local, regional or metropolitan
transportation authority.
"Industrial development corporation." An entity which has
been certified as an industrial development agency by the
Pennsylvania Industrial Development Authority Board under the
act of May 17, 1956 (1955 P.L.1609, No.537), known as the
Pennsylvania Industrial Development Authority Act.
"Investor-owned water or wastewater enterprise." A nonpublic
entity which supplies water or provides wastewater services to
the public for a fee.
"Issuing authority." As defined in section 3 of the act of
July 11, 1990 (P.L.465, No.113), known as the Tax Increment
Financing Act.
"Managing partner." A general partner, a manager, a managing
member or another person designated as the manager of a venture
capital partnership.
"Municipal authority." A public authority created under 53
Pa.C.S. Ch. 56 (relating to municipal authorities) or under the
former act of May 2, 1945 (P.L.382, No.164), known as the
Municipality Authorities Act of 1945.
"Obligee of the authority." Any of the following:
(1) A holder or owner of bonds of the Commonwealth
Financing Authority.
(2) A trustee or other fiduciary for any holder or owner
of bonds of the Commonwealth Financing Authority.
(3) A provider of a letter of credit, policy of
municipal bond insurance or other credit enhancement or
liquidity facility for bonds of the Commonwealth Financing
Authority.
(4) A lessor or installment seller demising property to
the Commonwealth Financing Authority in connection with a
project.
(5) A provider of an interest rate management agreement
or other agreement or arrangement authorized under section
1513(a)(28) (relating to powers).
"Pennsylvania-related company." An entity with operations
located in this Commonwealth or an entity willing to locate
significant business operations in this Commonwealth.
"Philadelphia Metropolitan Statistical Area." The
Philadelphia, Pennsylvania, Metropolitan Division of the
Philadelphia-Camden-Wilmington, Pennsylvania-New Jersey,
Delaware-Maryland Metropolitan Statistical Area as announced on
June 6, 2003, by the United States Office of Management and
Budget pursuant to Standards for Defining Metropolitan and
Micropolitan Statistical Areas by the Office of Management and
Budget for the 2000 Decennial Census of the United States Bureau
of the Census as published in the Federal Register, Vol. 65, No.
249, on December 27, 2000, comprising the Pennsylvania counties
of Philadelphia, Delaware, Bucks, Montgomery and Chester.
"Private developer." A person that is all of the following:
(1) Engaged in the development of real estate.
(2) Determined by the Commonwealth Financing Authority
to be financially responsible to assume all obligations
proposed to be undertaken.
"Production agriculture." The management and use of farming
resources for any of the following:
(1) The production of:
(i) agricultural, horticultural, aquacultural,
vegetable, fruit or floricultural products of the soil;
(ii) livestock or livestock products;
(iii) milk or dairy products; or
(iv) poultry or poultry products.
(2) Any other practices approved by the Department of
Agriculture.
"Project." An activity which promotes economic development
or opportunities within this Commonwealth. The term shall not
include activities conducted by a for-profit entity directly or
indirectly related to gaming.
"Project user." A person, political subdivision, municipal
authority, Commonwealth agency or other entity that owns, leases
or uses all or any part of a project.
"Redevelopment authority." An entity created under the act
of May 24, 1945 (P.L.991, No.385), known as the Urban
Redevelopment Law.
"Secretary." The Secretary of Community and Economic
Development of the Commonwealth.
"Supermarket." A retail store operated on a self-service
basis, primarily selling groceries, fresh produce, meat, bakery
and dairy products. The term does not include a convenience
store.
"Taxable bonds." Bonds or other evidence of indebtedness,
the interest on which is includable in gross income for Federal
income taxation purposes.
"Tax-exempt bonds." Bonds or other evidence of indebtedness,
the interest on which is excludable from gross income for
Federal income taxation purposes.
"Tax increment district." As defined in the act of July 11,
1990 (P.L.465, No.113), known as the Tax Increment Financing
Act.
"Tourism." An activity which promotes or encourages
individuals to travel to a location within this Commonwealth for
pleasure.
"Venture capital partnership." An entity whose purpose is to
make investments in companies and is formed as a limited
partnership, limited liability company or comparable investment
entity.
"Wastewater system." A system for the collection, treatment
or disposal of wastewater, including industrial waste. The term
does not include a system used solely for residential purposes.
"Water project." An activity to acquire land, easements or
rights-of-way and to construct, improve, expand, extend, repair
or rehabilitate a water system or wastewater system and which
contributes to economic development.
"Water system." A system for the supply, treatment, storage
or distribution of water. The term does not include a system
used solely for residential purposes.
(Nov. 30, 2004, P.L.1708, No.218, eff. imd.)
2004 Amendment. Act 218 added the defs. of "community
development financial institution," "investor-owned water or
wastewater enterprise," "wastewater system," "water project" and
"water system.
Cross References. Section 1504 is referred to in section
3902 of Title 12 (Commerce and Trade).
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Last modified: November 27, 2007 |