12 Pa. Code § 63.2 - Provisions of the Tax-Exempt Bond Allocation Act suspended

Provisions of the Tax-Exempt Bond Allocation Act (73 P.S. §§ 397.1-397.8) inconsistent with this chapter and 4 Pa. Code §§7.331-7.338 (relating to 1987 allocations of the unified volume cap under the Tax Reform Act of 1986) are suspended as provided by section 6(a) of the Tax-Exempt Bond Allocation Act (73 P.S. § 397.5(a)). The suspended portions of the Tax-Exempt Bond Allocation Act include the following provisions:

(1) Section 5(a) of the Tax-Exempt Bond Allocation Act (73 P.S. § 397.5(a)) insofar as the subsection does not provide allocations for housing related bonds.

(2) Section 5(a)(1) insofar as paragraph (1) required 2/3 of the State ceiling to be allocated under a formula.

(3) Section 5(a)(2) insofar as paragraph (2) allocated only 1/3 of the State ceiling for projects not funded using the formula contained in section 5(a)(1).

(4) Section 5(a)(2)(iv) insofar as subparagraph (iv) establishes a procedure for making allocations to the Higher Education Assistance Agency and provides allocations to the agency using the 1/3 allocation provided by section 5(a)(2).

(5) Section 5(b) and (c) insofar as the subsections do not provide reallocations for housing related bonds.

(6) The definition of "exempt facilities" in section 3 of the Tax-Exempt Bond Allocation Act (73 P.S. § 397.3) insofar as an example of an exempt facility project is a pollution control facility. The other portions of the "exempt facilities" definition remain in force and effect.

(7) Section 5(a) insofar as that section requires the Secretary to allocate, by December 1 of the following calendar year rather than by February 1 of the same calendar year, the tax-exempt bond authority.

Notes

12 Pa. Code § 63.2

The provisions of this § 63.1 adopted January 16, 1987, effective retroactively to January 1, 1987, 17 Pa.B. 247; amended January 22, 1988, effective retroactively to January 1, 1988, 18 Pa.B. 333; amended June 16, 1989, effective 6/17/1989, 19 Pa.B. 2541; amended September 21, 1990, effective 9/22/1990, 20 Pa.B. 4861; amended April 24, 1992, effective 4/25/1992, 22 Pa.B. 2240.

This regulation was promulgated under section 6(b) of the Regulatory Review Act (71 P.S. § 745.6(b)) which provides that it takes effect for 120 days

The provisions of this § 63.2 amended under sections 6 and 7(4) of the Tax-Exempt Bond Allocation Act (73 P.S. §§ 397.6 and 397.7(4)) (Repealed).