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Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 193-C. Emergency tax anticipation notes

Current as of January 01, 2026 | Updated by Findlaw Staff

(a) Legislative findings.--The General Assembly finds and declares that the proclamation of disaster emergency issued by the Governor on March 6, 2020, published at 50 Pa.B. 1644 (March 21, 2020), and the resulting global pandemic from COVID-19, has had an unexpected and sudden effect on the citizens, governments and businesses of this Commonwealth, including a material negative effect on the revenues of many local government units.

(b) Emergency borrowing authorized.--Notwithstanding any other provision of this act or law, a local government unit may borrow money under 53 Pa.C.S. § 8121 (relating to power to issue tax anticipation notes) with the following additional terms:

(1) For the purposes of this subsection, the governing body's anticipation of current taxes or current revenues may include an anticipation that the taxes levied or revenues receivable may not be received, in full or in part, until after the end of the current fiscal year due to the extension of tax filing deadlines, administrative break-down during the proclamation of disaster emergency issued by the Governor on March 6, 2020, published at 50 Pa.B. 1644 (March 21, 2020), and any renewal of the state of disaster emergency, unexpected severe economic contraction or the inability to timely enforce collection due to the proclamation of disaster emergency.

(2) In addition to the other requirements under 53 Pa.C.S. Ch. 81 Subch. B   1 (relating to tax anticipation notes and funding debt), a governing body shall establish a maturity date for a tax anticipation note issued under this subsection which shall not be later than the last day of the local government unit's fiscal year in 2022.

(c) Expiration.--No local government unit may borrow money under the authorization of this section after December 31, 2021.

(d) Definitions.--As used in this section, the following words and phrases shall have the meanings given to them in this subsection unless the context clearly indicates otherwise:

“Governing body.”  As defined in 53 Pa.C.S. § 8002(c) (relating to definitions).

“Local government unit.”  As defined in 53 Pa.C.S. § 8002(c).

1  53 Pa.C.S.A. § 8121 et seq.
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Cite this article: FindLaw.com - Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 193-C. Emergency tax anticipation notes - last updated January 01, 2026 | https://codes.findlaw.com/pa/title-72-ps-taxation-and-fiscal-affairs/pa-st-sect-72-193-c/

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