PRINTER'S NO. 461
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
426
Session of
2015
INTRODUCED BY SIMMONS, CALTAGIRONE, MUSTIO, DIAMOND, DUNBAR,
KAUFFMAN, STEPHENS, JAMES, MACKENZIE, COHEN, LAWRENCE, FEE,
MURT, EVANKOVICH, TALLMAN, KORTZ, BENNINGHOFF, PEIFER,
GABLER, GILLEN, TOOHIL, HELM, BARRAR AND EVERETT,
FEBRUARY 9, 2015
REFERRED TO COMMITTEE ON FINANCE, FEBRUARY 9, 2015
AN ACT
Amending the act of April 9, 1929 (P.L.343, No.176), entitled,
as amended, "An act relating to the finances of the State
government; providing for the settlement, assessment,
collection, and lien of taxes, bonus, and all other accounts
due the Commonwealth, the collection and recovery of fees and
other money or property due or belonging to the Commonwealth,
or any agency thereof, including escheated property and the
proceeds of its sale, the custody and disbursement or other
disposition of funds and securities belonging to or in the
possession of the Commonwealth, and the settlement of claims
against the Commonwealth, the resettlement of accounts and
appeals to the courts, refunds of moneys erroneously paid to
the Commonwealth, auditing the accounts of the Commonwealth
and all agencies thereof, of all public officers collecting
moneys payable to the Commonwealth, or any agency thereof,
and all receipts of appropriations from the Commonwealth,
authorizing the Commonwealth to issue tax anticipation notes
to defray current expenses, implementing the provisions of
section 7(a) of Article VIII of the Constitution of
Pennsylvania authorizing and restricting the incurring of
certain debt and imposing penalties; affecting every
department, board, commission, and officer of the State
government, every political subdivision of the State, and
certain officers of such subdivisions, every person,
association, and corporation required to pay, assess, or
collect taxes, or to make returns or reports under the laws
imposing taxes for State purposes, or to pay license fees or
other moneys to the Commonwealth, or any agency thereof,
every State depository and every debtor or creditor of the
Commonwealth," in special funds, further providing for
transfer of portion of surplus in the General Fund.
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The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 1702-A(b)(1) of the act of April 9, 1929
(P.L.343, No.176), known as The Fiscal Code, amended July 10,
2014 (P.L.1053, No.126), is amended to read:
Section 1702-A. Funding.
* * *
(b) Transfer of portion of surplus.--
(1) Except as may be provided in paragraph (2), for
fiscal years beginning after June 30, 2002, the following
apply:
(i) Except as set forth in this paragraph, if the
Secretary of the Budget certifies that there is a surplus
in the General Fund for a specific fiscal year, 25% of
the surplus shall be deposited by the end of the next
succeeding quarter into the Budget Stabilization Reserve
Fund.
(ii) If the Secretary of the Budget certifies, after
June 30, 2005, that there is a surplus in the General
Fund for the fiscal year 2004-2005, 15% of the surplus
shall be deposited by the end of the next succeeding
quarter into the Budget Stabilization Reserve Fund.
(iii) No amount of the surplus in the General Fund
for fiscal year 2007-2008 may be deposited into the
Budget Stabilization Reserve Fund.
(iv) No amount of the surplus in the General Fund
for fiscal year 2010-2011 may be deposited into the
Budget Stabilization Reserve Fund.
(v) No amount of the surplus in the General Fund for
fiscal year 2011-2012 may be deposited into the Budget
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Stabilization Reserve Fund.
(vi) No amount of the surplus in the General Fund
for fiscal year 2012-2013 may be deposited into the
Budget Stabilization Reserve Fund.
(vii) No amount of the surplus in the General Fund
for fiscal year 2013-2014 may be deposited into the
Budget Stabilization Reserve Fund.
(viii) Beginning with the 2014-2015 fiscal year, if
the Secretary of the Budget certifies that there is a
surplus in the General Fund at the end of the fiscal
year, 50% of the surplus shall be transferred and
deposited in proportion to the current unfunded actuarial
accrued liabilities of the Public School Employees'
Retirement System and the State Employees' Retirement
System. The funds shall be deposited by the end of the
next succeeding quarter. The Public School Employees'
Retirement Board and the State Employees' Retirement
Board must accept the transferred funds and apply the
same to offset the current unfunded actuarial accrued
liability of the pension funds. The transfers of surplus
funds must be in addition to required annual employer
contributions required by 24 Pa.C.S. §§ 8326 (relating to
contributions by the Commonwealth) and 8327 (relating to
payments by employers) and 71 Pa.C.S. § 5507(d) and (e)
(relating to contributions by the Commonwealth and other
employers) and may not be used to replace any portion of
the annual employer contributions certified by the boards
under 24 Pa.C.S. § 8328 (relating to actuarial cost
method) and 71 Pa.C.S. §§ 5507 and 5508 (relating to
actuarial cost method).
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* * *
Section 2. This act shall take effect immediately.
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