§ 7.323c. Other qualified private activity bonds.

 An amount equal to $244,487,500 shall be allocated to other qualified private activity bonds subject to the volume cap provided by the Tax Reform Act of 1986 and for individual qualified small issue projects and uses which require a greater allocation than is available to a particular county under §  7.323a (relating to qualified student loan bonds). Requests to apply this allocation to specific projects or uses will be reviewed and may be approved or disapproved by the Secretary of Commerce. Applications for allocations shall be made to the Bureau of Economic Assistance in the Department of Commerce. The Secretary will provide standby allocations under this section utilizing the same procedures and subject to the same requirements imposed upon allocations made under the Tax-Exempt Bond Allocation Act (73 P. S. § §  397.1—397.8). A specific project or use granted a standby allocation under section 4 of Executive Order 1986-3 (16 Pa.B. 2277) for ‘‘other private activity bonds,’’ and subject to the volume cap proposed by the Tax Reform Act of 1986, exclusive of qualified small issue bonds, shall receive an allocation under this section subject to the same terms and conditions imposed under Executive Order 1986-3.

   The provisions of this §  7.323c adopted by Executive Order 1986-5, dated October 17, 1986, effective October 18, 1986, 16 Pa.B. 3920.

   This section cited in 4 Pa. Code §  7.325 (relating to reallocations).