(a) Account.--There is established a restricted revenue account within the General Fund for the purpose of making principal and interest payments coming due in each fiscal year, beginning July 1, 2016, or thereafter, for outstanding indebtedness of the Commonwealth Financing Authority. The State Treasurer, upon consultation with the Secretary of the Budget, shall transfer from the general revenues of the Commonwealth collected under Article II of the act of March 4, 1971 (P.L. 6, No. 2),¹ known as the Tax Reform Code of 1971, to the restricted revenue account such amounts, as may be necessary, to make payment for principal and interest obligations. The State Treasurer and the Secretary of the Budget shall consider the timing of principal and interest payments and General Fund cash flow when determining transfer amounts. Transfer of general revenues under this section shall not exceed the amount certified under 64 Pa.C.S. § 1543(e) (relating to indebtedness).

(b) Reports.--Within 10 days of the expiration of each quarter of each fiscal year, the Secretary of the Budget shall provide to the chairperson and minority chairperson of the Appropriations Committee of the Senate and the chairperson and minority chairperson of the Appropriations Committee of the House of Representatives a report relating to the restricted revenue account under subsection (a) that includes at least all of the following: