Skip to main content
Find a Lawyer

Pennsylvania Statutes Title 24 P.S. Education § 7503. Monetary penalty endowments

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) General rule.--If an institution of higher education pays a monetary penalty pursuant to an agreement entered into with a governing body and:

(1) the monetary penalty is at least $10,000,000 in installments over a time period in excess of one year; and

(2) the agreement provides that the monetary penalty will be used for a specific purpose,

then the monetary penalty shall be deposited into an endowment that complies with the provisions of subsection (b).

(b) Requirements of endowment.--An endowment under subsection (a) shall satisfy the following requirements:

(1) The endowment shall be established as a separate trust fund in the State Treasury and the State Treasurer shall be custodian thereof. The State Treasurer shall invest the money in the endowment subject to the prudent investor provisions of 20 Pa.C.S. § 7203 (relating to prudent investor rule). The moneys of the separate trust fund are appropriated to the commission on a continuing basis to carry out the provisions of this act.

(2) In addition to the monetary penalty deposited into the endowment, the endowment shall be authorized to accept donations from any source.

(3) The commission shall expend the money of the endowment in accordance with the purposes enumerated in the agreement between the institution of higher education and the governing body and subject to the provisions of paragraph (4).

(4) Unless otherwise expressly stated in the agreement, the funds may only be used within this Commonwealth for the benefit of the residents of this Commonwealth and on any of the following:

(i) Programs or projects preventing child sexual abuse and/or assisting the victims of child sexual abuse.

(ii) Multidisciplinary investigative teams established under 23 Pa.C.S. (relating to domestic relations).

(iii) Child advocacy centers.

(iv) Victim service organizations that provide services to children subjected to sexual abuse.

(v) Training of persons who are mandated by law to report child sexual abuse or to treat victims of child sexual abuse.

(5) If the endowment is established to exist for at least five years:

(i) During the first five years, not more than 50% of the monetary penalties paid into the endowment shall be expended annually as provided in paragraphs (3) and (4).

(ii) Each year thereafter, all interest and earnings of the endowment shall be expended as provided in paragraphs (3) and (4).

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Pennsylvania Statutes Title 24 P.S. Education § 7503. Monetary penalty endowments - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-24-ps-education/pa-st-sect-24-7503/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard