Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 1703-A. Disposition of Budget Stabilization Reserve Fund
Current as of January 01, 2022 | Updated by FindLaw Staff
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(a) Purpose.--It is the intent of the General Assembly that:
(1) Money from the Budget Stabilization Reserve Fund be appropriated only when emergencies involving the health, safety or welfare of the residents of this Commonwealth or downturns in the economy resulting in significant unanticipated revenue shortfalls cannot be dealt with through the normal budget process.
(2) Money in the Budget Stabilization Reserve Fund shall not be used to begin new programs but to provide for the continuation of vital public programs in danger of being eliminated or severely reduced due to financial problems resulting from the economy.
(b) Appropriation.-- Except as provided under subsection (c), whenever the Governor determines that an appropriation from the Budget Stabilization Reserve Fund is necessary to meet emergencies involving the health, safety or welfare of the residents of this Commonwealth or to counterbalance downturns of the economy which result in significant unanticipated revenue shortfalls, the Governor shall present a request for an appropriation which may include the specifics of the proposal and suggested ancillary and substantive legislation as may be necessary to the chairman of Appropriations Committee of the Senate and the chairman of the Appropriations Committee of the House of Representatives. The General Assembly may then through approval of a separate appropriation bill by a vote of two-thirds of the members elected to the Senate and the House of Representatives appropriate money from the Budget Stabilization Reserve Fund to meet the needs identified in the Governor's proposal. Any money appropriated according to this section which has then lapsed shall be returned to the Budget Stabilization Reserve Fund.
(c) Transfer.--No later than November 30, 2020, $100,000,000 shall be transferred from the Budget Stabilization Reserve Fund to the General Fund and shall be available for appropriation by the General Assembly.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 1703-A. Disposition of Budget Stabilization Reserve Fund - last updated January 01, 2022 | https://codes.findlaw.com/pa/title-72-ps-taxation-and-fiscal-affairs/pa-st-sect-72-1703-a.html
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