Section 73.13. Interest rates

Interest rates on the Authority’s loans, including penalty interest rates for delinquent loans, will be set by the Authority and will become effective when the Authority prescribes. In setting interest rates the Authority will consider unemployment statistics, market interest rates, the Authority’s cash flow and the need to keep the Commonwealth and its businesses competitive. Projects designated as advanced technology projects by the Department, projects located in areas designated as enterprise zones, planning stage enterprise zones or distressed areas and projects affecting industries designated by the Department as Statewide or regional strategic industries, may receive special low interest rates. Notice of the Authority’s interest rates will be published annually as a notice in the Pennsylvania Bulletin.

Notation

Cross References

This section cited in 12 Pa. Code § 73.11 (relating to loan ceiling); and 12 Pa. Code § 73.12 (relating to job creation requirements).