PRINTER'S NO. 3030
No. 2126 Session of 2007
INTRODUCED BY METCALFE, BENNINGHOFF, BOYD, CAPPELLI, COX, DALLY,
EVERETT, GINGRICH, GOODMAN, MARSICO, MENSCH, MUSTIO,
PETRARCA, PYLE, RAPP, ROAE, ROCK, SAYLOR, SEIP, STERN,
R. STEVENSON AND SWANGER, DECEMBER 13, 2007
REFERRED TO COMMITTEE ON APPROPRIATIONS, DECEMBER 13, 2007
AN ACT
1 Amending the act of April 9, 1929 (P.L.177, No.175), entitled
2 "An act providing for and reorganizing the conduct of the
3 executive and administrative work of the Commonwealth by the
4 Executive Department thereof and the administrative
5 departments, boards, commissions, and officers thereof,
6 including the boards of trustees of State Normal Schools, or
7 Teachers Colleges; abolishing, creating, reorganizing or
8 authorizing the reorganization of certain administrative
9 departments, boards, and commissions; defining the powers and
10 duties of the Governor and other executive and administrative
11 officers, and of the several administrative departments,
12 boards, commissions, and officers; fixing the salaries of the
13 Governor, Lieutenant Governor, and certain other executive
14 and administrative officers; providing for the appointment of
15 certain administrative officers, and of all deputies and
16 other assistants and employes in certain departments, boards,
17 and commissions; and prescribing the manner in which the
18 number and compensation of the deputies and all other
19 assistants and employes of certain departments, boards and
20 commissions shall be determined," further providing for the
21 disposition of surplus funds; and making a repeal.
22 The General Assembly of the Commonwealth of Pennsylvania
23 hereby enacts as follows:
24 Section 1. The act of April 9, 1929 (P.L.177, No.175), known
25 as The Administrative Code of 1929, is amended by adding a
26 section to read:
1 Section 626. Disposition of Surplus Funds.--(a) Except as
2 provided under subsection (b), for the fiscal year beginning
3 July 1, 2007, and for any fiscal year thereafter for which the
4 Secretary of the Budget certifies that there is a surplus in the
5 General Fund at the end of the fiscal year, 25% of that surplus
6 shall be deposited by the end of the next succeeding quarter
7 into the Budget Stabilization Reserve Fund established under
8 section 1701-A of the act of April 9, 1929 (P.L.343, No.176),
9 known as "The Fiscal Code," and 75% of that surplus shall be
10 deposited by the end of the next succeeding quarter into the
11 Property Tax Relief Fund established under 4 Pa.C.S. § 1409
12 (relating to Property Tax Relief Fund).
13 (b) For any fiscal year for which the State Treasurer
14 certifies that the ending balance in the Budget Stabilization
15 Reserve Fund equals or exceeds 6% of the actual General Fund
16 revenues received for the fiscal year in which the surplus
17 occurs, 100% of the surplus certified by the Secretary of the
18 Budget under subsection (a) shall be deposited into the Property
19 Tax Relief Fund.
20 Section 2. Repeals are as follows:
21 (1) The General Assembly declares that the repeal under
22 paragraph (2) is necessary to effectuate the provisions of
23 this act.
24 (2) Section 1702-A of the act of act of April 9, 1929
25 (P.L.343, No.176), known as The Fiscal Code, is repealed.
26 Section 3. This act shall take effect immediately.
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