(a)Establishment.--The Pennsylvania Broadband Development Authority is established as an independent authority. The authority shall be an instrumentality of the Commonwealth and a body corporate and politic, with corporate succession. The exercise by the authority of the powers conferred on the authority by this chapter shall be deemed and held to be a public and essential government function.(b)Governance.--The authority shall be governed by a board of directors as provided in section 6112 (relating to board). The powers of the authority shall be exercised by the board.(c) Fiscal year.--The fiscal year of the authority shall be the same as the fiscal year of the Commonwealth.(d) Dissolution.--Upon dissolution of the authority, all property, money and assets of the authority shall be vested in the Commonwealth. The authority shall dissolve upon the later of: (1) Ten years from the effective date of this section; or(2) All Federal funds available for the purposes of this chapter have been exhausted and all applicable duties and responsibilities under Federal law or guidance have been completed.(d.1) Notice.--Prior to dissolution under subsection (d), the authority shall transmit notice of the dissolution to the Legislative Reference Bureau for publication in the Pennsylvania Bulletin.(e) Procurement.--The authority shall be considered an independent agency for purposes of 62 Pa.C.S. Pt. I (relating to Commonwealth Procurement Code).(f)Applicability.--The following acts shall apply to the authority and the board: (1) The act of July 19, 1957 ( P.L. 1017, No.451), known as the State Adverse Interest Act.(2) The act of February 14, 2008 ( P.L. 6, No.3), known as the Right-to-Know Law.(3) The provisions of 65 Pa.C.S. Chs. 7 (relating to open meetings) and 11 (relating to ethics standards and financial disclosure).Added by P.L. TBD 2021 No. 96, § 1, eff. 12/22/2021.