Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 1606-P. Applications

(a) Application for angel investor.--An angel investor may submit an application to the office requesting a grant agreement related to a qualified investment to be made in a qualified business venture.  The application shall be on a form prescribed by the office.

(b) Application for qualified business venture.--A qualified business venture may submit an application to the office requesting a qualified investment.  The application shall be on a form prescribed by the office.

(c) Review.--The office shall review each application submitted under this section to determine the suitability of the eligible applicant.

(d) Approval.--Upon being satisfied under subsection (c), the office shall approve the applications and award a grant for making a qualified investment in a qualified business venture.

(e) Notification.--The office shall notify the angel investor and the qualified business venture of the amount of the grant to be invested within 30 days after approval by the office and execute a grant agreement with the angel investor.