Pennsylvania Statutes Title 73 P.S. Trade and Commerce § 1649.302. Appropriation

Following the expiration of one or more generation rate caps established in an electric utility restructuring proceeding under 66 Pa.C.S. § 2804(4) (relating to standards for restructuring of electric industry), an amount not to exceed $40,000,000 shall be annually appropriated from the General Fund to the authority. The authority shall use the funds to incur indebtedness under this section in an amount up to $500,000,000 plus the payment of all reasonable costs and expenses related to the issuance of indebtedness in accordance with 64 Pa.C.S. Ch. 15 (relating to Commonwealth Financing Authority) for up to 30 years. For fiscal years 2008-2009 through 2037-2038, the $40,000,000 appropriated under this section, or as much thereof as may be necessary, shall be used by the authority for payment of debt service. Proceeds from any debt incurred under this section shall be allocated in accordance with this chapter.