PRINTER'S NO. 307
No. 300 Session of 1999
INTRODUCED BY ROBINSON AND CARN, FEBRUARY 3, 1999
REFERRED TO COMMITTEE ON APPROPRIATIONS, FEBRUARY 3, 1999
AN ACT
1 Amending the act of April 9, 1929 (P.L.343, No.176), entitled,
2 as amended, "An act relating to the finances of the State
3 government; providing for the settlement, assessment,
4 collection, and lien of taxes, bonus, and all other accounts
5 due the Commonwealth, the collection and recovery of fees and
6 other money or property due or belonging to the Commonwealth,
7 or any agency thereof, including escheated property and the
8 proceeds of its sale, the custody and disbursement or other
9 disposition of funds and securities belonging to or in the
10 possession of the Commonwealth, and the settlement of claims
11 against the Commonwealth, the resettlement of accounts and
12 appeals to the courts, refunds of moneys erroneously paid to
13 the Commonwealth, auditing the accounts of the Commonwealth
14 and all agencies thereof, of all public officers collecting
15 moneys payable to the Commonwealth, or any agency thereof,
16 and all receipts of appropriations from the Commonwealth,
17 authorizing the Commonwealth to issue tax anticipation notes
18 to defray current expenses, implementing the provisions of
19 section 7(a) of Article VIII of the Constitution of
20 Pennsylvania authorizing and restricting the incurring of
21 certain debt and imposing penalties; affecting every
22 department, board, commission, and officer of the State
23 government, every political subdivision of the State, and
24 certain officers of such subdivisions, every person,
25 association, and corporation required to pay, assess, or
26 collect taxes, or to make returns or reports under the laws
27 imposing taxes for State purposes, or to pay license fees or
28 other moneys to the Commonwealth, or any agency thereof,
29 every State depository and every debtor or creditor of the
30 Commonwealth," providing for financial reviews of certain
31 capital projects.
32 The General Assembly of the Commonwealth of Pennsylvania
1 hereby enacts as follows:
2 Section 1. The act of April 9, 1929 (P.L.343, No.176), known
3 as The Fiscal Code, is amended by adding a section to read:
4 Section 1603. Financial Reviews of Capital Projects.--(a)
5 The State Treasurer shall examine the books, documents or other
6 papers of any corporation, association or individual of a
7 project that is being considered for receipt of funds equal to
8 or in excess of five million dollars ($5,000,000) as a capital
9 project in a capital budget under Article XVI-B. The purpose of
10 the examination shall be to form a judgment regarding the
11 reliability of the information contained in any such books,
12 documents or papers, Provided however, That the examination
13 shall be in the nature of a financial review and not an audit,
14 and that the approval of the State Treasurer shall not be
15 necessary for the project to be designated as a capital project
16 in the capital budget.
17 (b) In the performance of the duty under this section, the
18 State Treasurer is authorized to hire accountants or
19 professionals with expertise in the subject matter to be
20 examined.
21 (c) The State Treasurer may enforce this section in the same
22 manner as provided in section 1602.
23 (d) No examination under this section shall be construed to
24 prohibit the State Treasurer from conducting an audit in
25 accordance with section 1502 at such time as the State Treasurer
26 is presented with a payment requisition involving the capital
27 project.
28 Section 2. This act shall take effect immediately.
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