Pennsylvania Statutes Title 53 P.S. Municipal and Quasi-Municipal Corporations § 28204. Term of existence

(a) Length.--The authority shall exist for a term of at least seven years.  If, after seven years, an assisted city has had annual operating budgets and five-year financial plans approved by the board for at least the three immediately preceding years, the Secretary of Community and Economic Development shall certify that the authority is no longer needed, and the provisions of this chapter shall no longer apply to the assisted city 90 days following that certification.  Upon termination of the authority, records and documents of the authority shall be transferred to the director of finance of the assisted city.  The authority shall submit a final report on its activities and the city's fiscal condition to the Governor and the General Assembly within 60 days of its termination.

(b) Limitation.--The Secretary of Community and Economic Development may not certify that the authority is no longer necessary under subsection (a) until oversight is terminated under the act of July 10, 1987 (P.L. 246, No. 47),   1 known as the Municipalities Financial Recovery Act, or June 30, 2019, whichever is later.

(c) Redistribution.--