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Pennsylvania Statutes Title 53 Pa.C.S.A. Municipalities Generally § 9112. Deposits of certain proceeds

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

Notwithstanding the provisions of section 902(a)(2) of the act of December 18, 1984 (P.L. 1005, No. 205),  1 known as the Municipal Pension Plan Funding Standard and Recovery Act, in order to exercise the additional taxing authority granted under that section, net proceeds of the lease or sale of a city of a second class' parking authority garages must be deposited as follows:

(1) into the city's municipal pension system fund; or

(2) with the Pennsylvania Municipal Retirement System and credited to the city's account in the event the administration of the city's municipal pension system fund has been transferred to the Pennsylvania Municipal Retirement System under section 902(c) of the Municipal Pension Plan Funding Standard and Recovery Act.

1 53 P.S. § 895.902.
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Cite this article: FindLaw.com - Pennsylvania Statutes Title 53 Pa.C.S.A. Municipalities Generally § 9112. Deposits of certain proceeds - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-53-pacsa-municipalities-generally/pa-csa-sect-53-9112/

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