Bill Text: PA HB672 | 2011-2012 | Regular Session | Introduced

---

Bill Title: Further providing for disposition of the Budget Stabilization Reserve Fund.

Sponsorship: Moderate Partisan Bill (Republican 12-2)

Status: (Introduced - Dead) 2011-02-14 - Referred to FINANCE [HB672 Detail]

Download: Pennsylvania-2011-HB672-Introduced.html

---

PRINTER'S NO. 672
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 672 Session of2011
INTRODUCED BY REICHLEY, CLYMER, CUTLER, GEIST, GOODMAN, HARHART, KILLION, MILNE, READSHAW, SWANGER AND WATSON, FEBRUARY 14, 2011
REFERRED TO COMMITTEE ON FINANCE, FEBRUARY 14, 2011
AN ACT
Amending the act of April 9, 1929 (P.L.343, No.176), entitled,
as amended, "An act relating to the finances of the State
government; providing for the settlement, assessment,
collection, and lien of taxes, bonus, and all other accounts
due the Commonwealth, the collection and recovery of fees and
other money or property due or belonging to the Commonwealth,
or any agency thereof, including escheated property and the
proceeds of its sale, the custody and disbursement or other
disposition of funds and securities belonging to or in the
possession of the Commonwealth, and the settlement of claims
against the Commonwealth, the resettlement of accounts and
appeals to the courts, refunds of moneys erroneously paid to
the Commonwealth, auditing the accounts of the Commonwealth
and all agencies thereof, of all public officers collecting
moneys payable to the Commonwealth, or any agency thereof,
and all receipts of appropriations from the Commonwealth,
authorizing the Commonwealth to issue tax anticipation notes
to defray current expenses, implementing the provisions of
section 7(a) of Article VIII of the Constitution of
Pennsylvania authorizing and restricting the incurring of
certain debt and imposing penalties; affecting every
department, board, commission, and officer of the State
government, every political subdivision of the State, and
certain officers of such subdivisions, every person,
association, and corporation required to pay, assess, or
collect taxes, or to make returns or reports under the laws
imposing taxes for State purposes, or to pay license fees or
other moneys to the Commonwealth, or any agency thereof,
every State depository and every debtor or creditor of the
Commonwealth," further providing for disposition of the
Budget Stabilization Reserve Fund.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 1703-A of the act of April 9, 1929
(P.L.343, No.176), known as The Fiscal Code, added June 29, 2002
(P.L.614, No.91), is amended to read:
Section 1703-A. Disposition of Budget Stabilization Reserve
Fund.
(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 primarily 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.--[Whenever]
(1) Except as provided in paragraph (2), 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 along with 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
20110HB0672PN0672 - 2 -
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.
(2) Within ten days of the creation of the Disease
Management Tax Credit Fund, the amount of $20,000,000 shall
be transferred from the Budget Stabilization Reserve Fund to
the Disease Management Tax Credit Fund.
Section 2. This act shall take effect in 60 days.
20110HB0672PN0672 - 3 -