Section 3010 - LimitationsA loan may not be recommended or approved if the proceeds of the loan could do any of the following:
(1) Cause, aid or assist directly in the relocation of any business operations from one part of this Commonwealth to another unless there is at least a 25% net increase in employment.(2) Refinance any portion of the total cost of an industrial development project, industrial park or multiple- tenancy building project or other existing loans or debt.(3) Finance an industrial development project, industrial park or multiple-tenancy building project locatedoutside the geographic boundaries of this Commonwealth.(4) Provide funds, directly or indirectly, for payment distribution or as loan owners, partners or shareholders of a small business, except as ordinary compensation for services rendered.(5) Provide funds for speculation in real or personal property, whether tangible or intangible.Added by P.L. 2569 2014 No. 161, § 8.1, eff. 11/1/2014.