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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) Utilization.--If the use was approved in an application filed under section 802, 1 money transferred under section 805 2 may only be utilized for the following:
(1) Payment of debt service on bonds issued for the construction, including related infrastructure and site preparation, reconstruction or renovation of a facility in the TRID.
(2) Construction, including related infrastructure and site preparation, reconstruction or renovation of all or a part of a facility.
(3) Replenishment of amounts in debt service reserve funds established to pay debt service on bonds.
(4) Improvement or development of all or part of a TRID.
(5) Improvement projects, including fixtures and equipment for a facility owned by a public authority.
(b) Excess money.--
(1) If the amount of money transferred to the fund under section 805 in any one calendar year exceeds the money utilized under this section in that calendar year, the management entity shall submit by January 15 following the end of the calendar year the excess money to the State Treasurer for deposit into the General Fund.
(2) At the time of submission to the State Treasurer, the management entity shall submit to the State Treasurer, the Office of the Budget and department a detailed accounting of the calculation resulting in the excess money.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 73 P.S. Trade and Commerce § 850.806. Restrictions - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-73-ps-trade-and-commerce/pa-st-sect-73-850-806/
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