PRINTER'S NO. 253
No. 248 Session of 2003
INTRODUCED BY O'PAKE, MUSTO, SCHWARTZ, COSTA, WOZNIAK, ORIE, MOWERY, KITCHEN, LOGAN, STOUT AND RAFFERTY, FEBRUARY 7, 2003
REFERRED TO LOCAL GOVERNMENT, FEBRUARY 7, 2003
AN ACT 1 Amending the act of May 12, 1943 (P.L.259, No.120), entitled, as 2 reenacted and amended, "An act providing for the payment by 3 the State Treasurer, of the amount of the tax on premiums 4 paid by foreign casualty insurance companies, to the 5 treasurers of the several cities, boroughs, towns, townships, 6 and certain counties, and for the payment thereof into police 7 pension funds, and in certain cases into the Municipal 8 Employes' Retirement System, and for Pension Annuity 9 Contracts, and in certain other cases into the State 10 Employes' Retirement Fund, for certain purposes," further 11 providing for use of certain funds by municipalities that are 12 consolidated or merged with other municipalities. 13 The General Assembly of the Commonwealth of Pennsylvania 14 hereby enacts as follows: 15 Section 1. Section 1.2 of the act of May 12, 1943 (P.L.259, 16 No.120), referred to as the Foreign Casualty Insurance Premium 17 Tax Allocation Law, reenacted and amended May 10, 1951 (P.L.250, 18 No.39) and amended May 25, 1956 (1955 P.L.1742, No.582), is 19 amended to read: 20 Section 1.2. All moneys distributed under the terms hereof, 21 that are not used for the purposes set forth herein within two 22 years after receipt thereof by the treasurers of the several 23 cities, boroughs, towns and townships, shall be returned to the
1 General Fund for distribution in accordance with the terms of 2 Formula 3 of the act herein amended. However, where a 3 municipality merges, consolidates or otherwise joins into or 4 with another municipality so that it ceases to exist as a 5 separate political subdivision after June 30, 1998, the 6 successor municipality may treat unspent moneys as having been 7 originally distributed to it. 8 Section 2. This act shall take effect in 60 days. A17L72RLE/20030S0248B0253 - 2 -