PRINTER'S NO. 373
No. 343 Session of 1985
INTRODUCED BY BURNS, CLYMER, GREENWOOD AND J. L. WRIGHT,
FEBRUARY 13, 1985
REFERRED TO COMMITTEE ON EDUCATION, FEBRUARY 13, 1985
AN ACT
1 Amending the act of April 30, 1943 (P.L.145, No.73), entitled,
2 as amended, "An act providing for and regulating the
3 accumulation, investment and expenditure by counties, cities,
4 boroughs, incorporated towns, townships and school districts
5 of funds for post war projects," providing for the
6 compilation of certain lists of capital projects by school
7 boards.
8 The General Assembly of the Commonwealth of Pennsylvania
9 hereby enacts as follows:
10 Section 1. Section 2 of the act of April 30, 1943 (P.L.145,
11 No.73), entitled, as amended, "An act providing for and
12 regulating the accumulation, investment and expenditure by
13 counties, cities, boroughs, incorporated towns, townships and
14 school districts of funds for post war projects," amended May 8,
15 1947 (P.L.176, No.77), is amended to read:
16 Section 2. Creation of Capital Reserve Fund.--(a) Any
17 municipality shall have power to create a special fund and to
18 accumulate therein moneys for expenditure in accordance with the
19 provisions of this act during the post war period. Such special
20 fund may consist [(a)] (1) of moneys transferred during any
1 fiscal year from appropriations made for any particular purpose
2 which may not be needed; [(b)] (2) of surplus moneys in the
3 general fund of the treasury of the municipality at the end of
4 any fiscal year.
5 (b) The municipality shall annually show in its budget the
6 amount of moneys in the special fund.
7 (c) A school board shall, prior to the creation and transfer
8 of moneys to the fund, list the capital projects and the funding
9 for each project. Failure to provide the listing shall negate
10 the creation of the fund.
11 Section 2. This act shall be retroactive to June 1, 1983.
12 Section 3. This act shall take effect immediately.
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