Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 8104-A. Effect of payment;  additional assessment;  refunds;  rebates

(a) Payment of, or any exemption from the tax imposed by this article and the distribution to local taxing authorities prescribed by section 1107-A,  1 shall be in lieu of local taxes upon utility realty, as contemplated by Article VIII, section 4, of the Constitution of Pennsylvania.

(b) The department may annually determine for every assessable taxable year whether the total amount of tax due under section 1102-A(a)   2 exceeds the total amount of tax collected and the ratio that the amount of the excess bears to the total State taxable value of all utility realty reported under section 1102-A.  The ratio shall be calculated to four decimal places.  The department shall notify a reporting public utility of the ratio.  Within forty-five days of the mailing date of the notice, the public utility shall pay to the State Treasurer, through the department, an additional amount of tax equal to the product of the ratio and the State taxable value shown in the public utility's report under section 1102-A.  Section 1103-A shall apply to the additional amount of tax.

(c) If for a taxable year the amount due on notice of determination is less than the amount paid by the public utility to the department on account of that amount and the public utility is satisfied with the amount due, the department shall enter the amount of the difference as a credit to the account of the public utility.

(d) If for a taxable year the total amount of tax collected under section 1102-A is finally determined to exceed the amount determined by the department under section 1107-A(a)(2)   3 or if for taxable year 1998 the total amount of tax collected under section 1102-A is finally determined to exceed the greater of the total State taxable value of all utility realty reported to the department pursuant to section 1102-A or one hundred thirty-three million two hundred thousand dollars ($133,200,000), the department shall compute the ratio, to four decimal places, that the amount of the excess bears to the total State taxable value of all utility realty under 1102-A.  The department shall notify the reporting public utility of the ratio, and the State Treasurer shall rebate the excess to the public utility as a credit in an amount equal to the product of the ratio and the State taxable value of its utility realty.  For purposes of section 806.1 of the act of April 9, 1929 (P.L. 343, No. 176),  4 known as “The Fiscal Code,” any amount rebated shall be deemed to have been overpaid seventy-five days following the date of notice.