1Establishing the Real Rainy Day Fund; and providing for the
2deposit of a portion of the liquor tax into the fund and for
3use of fund.

4The General Assembly of the Commonwealth of Pennsylvania
5hereby enacts as follows:

6Section 1. Short title.

7This act shall be known and may be cited as the Real Rainy
8Day Fund Act.

9Section 2. Definitions.

10The following words and phrases when used in this act shall
11have the meanings given to them in this section unless the
12context clearly indicates otherwise:

13"Disaster emergency." As defined in 35 Pa.C.S. § 7102
14(relating to definitions).

15"Fund." The Real Rainy Day Fund established in section 3.

16"Liquor tax." The tax imposed in accordance with the act of 
17June 9, 1936 (1st Sp.Sess., P.L.13, No.4), entitled "An act 
18imposing an emergency State tax on liquor, as herein defined, 

1sold by the Pennsylvania Liquor Control Board; providing for the 
2collection and payment of such tax; and imposing duties upon the 
3Department of Revenue and the Pennsylvania Liquor Control 
4Board."

5"Liquor tax rate." The rate of tax imposed pursuant to 
6section 2 of the act of June 9, 1936 (1st Sp.Sess., P.L.13, 
7No.4), entitled "An act imposing an emergency State tax on 
8liquor, as herein defined, sold by the Pennsylvania Liquor 
9Control Board; providing for the collection and payment of such 
10tax; and imposing duties upon the Department of Revenue and the 
11Pennsylvania Liquor Control Board."

12Section 3. Real Rainy Day Fund.

13The Real Rainy Day Fund is established as a special fund in
14the State Treasury. The moneys of the fund are appropriated on a
15continuing basis to carry out the provisions of this act.

16Section 4. Deposit of liquor tax.

17Notwithstanding section 2 of the act of June 9, 1936 (1st 
18Sp.Sess., P.L.13, No.4), entitled "An act imposing an emergency 
19State tax on liquor, as herein defined, sold by the Pennsylvania 
20Liquor Control Board; providing for the collection and payment 
21of such tax; and imposing duties upon the Department of Revenue 
22and the Pennsylvania Liquor Control Board," all revenues 
23received by the Commonwealth pursuant to the imposition of the 
24liquor tax shall be deposited by the Department of Revenue as 
25follows:

26(1) The revenues derived from the first 20% of the
27liquor tax rate shall be deposited in the fund.

28(2) The remainder shall be deposited in the General
29Fund.

30Section 5. Use of fund.

1(a) Annual report.--The Governor shall report on the fund in
2the annual budget, which shall include the amounts allocated
3under this section.

4(b) Allocations.--

5(1) The first $250,000,000 deposited in the fund during
6a fiscal year may be used by the Governor for providing
7disaster relief grants or loans to the citizens of this
8Commonwealth who sustained property damage as a result of a
9disaster emergency for which the Governor issued an executive
10order or declaration under 35 Pa.C.S. § 7301 (relating to
11general authority of Governor).

12(2) Any moneys deposited in the fund or interest that
13accrues in the fund during a fiscal year in excess of the
14first $250,000,000 deposited in the fund, may be used by the
15Governor to repair roads and bridges that failed their most
16recent inspection by the Department of Transportation of the
17Commonwealth.

18(3) Notwithstanding the provisions of paragraphs (1) and
19(2) and subject to subsection (c), the moneys of the fund may
20be used for such other purposes as provided by law.

21(c) Appropriations for other purposes.--

22(1) Whenever the Governor determines that an
23appropriation from the fund is necessary to meet emergencies
24involving the health, safety or welfare of the residents of
25this Commonwealth or to counterbalance downturns of the
26economy which result in significant unanticipated revenue
27shortfalls, the Governor shall present a request for an
28appropriation along with the specifics of the proposal and
29suggested ancillary and substantive legislation as may be
30necessary to the chairman of the Appropriations Committee of

1the Senate and the chairman of the Appropriations Committee
2of the House of Representatives.

3(2) The General Assembly may then through approval of a
4separate appropriation bill by a vote of two-thirds of the
5members elected to the Senate and the House of
6Representatives appropriate money from the fund to meet the
7needs identified in the Governor's proposal.

8(3) Any money appropriated according to this subsection
9that has then lapsed shall be returned to the fund, subject
10to the provisions of subsection (d).

11(d) Transfer to General Fund.--Any balance in the fund that
12remains unallocated after the application of subsection (b)
13shall be transferred to the General Fund on or before June 30 of
14each fiscal year.

15Section 6. Repeals.

16All acts and parts of acts are repealed insofar as they are
17inconsistent with this act.

18Section 7. Applicability.

19This act shall apply to the fiscal year beginning after the
20effective date of this section and to each fiscal year
21thereafter.

22Section 8. Effective date.

23This act shall take effect immediately.