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§ 914.2. Agricultural Conservation Easement Purchase Fund

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 3 P.S. AgricultureEffective: May 15, 2006

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 3 P.S. Agriculture (Refs & Annos)
Chapter 14A. Agricultural Area Security (Refs & Annos)
Effective: May 15, 2006
3 P.S. § 914.2
§ 914.2. Agricultural Conservation Easement Purchase Fund
(a) Purpose of fund.--
(1) The Agricultural Conservation Easement Purchase Fund shall be the source from which all moneys are authorized with the approval of the Governor to carry out the purpose of this act.
(2) Except as set forth in paragraph 3, the moneys appropriated to the fund shall be utilized in accordance with the expenditures and distribution authorized, required or otherwise provided in the program for purchase of agricultural conservation easements contained in section 14.1,1 for the purpose of paying all costs, except administrative costs, incurred by the Commonwealth or a county incident to the purchase of agricultural conservation easements, and for the purpose of reimbursing nonprofit land conservation organizations for expenses incurred in acquiring and transferring agricultural conservation easements to the Commonwealth or a county.
(3) Each fiscal year, up to $200,000 of the money in the fund may be used for the purpose of reimbursement allocation under section 14.6(b).2 Up to 10% of these funds may be used for administrative expenses of the department incurred under section 14.6(b).
(b) Interfund transfers authorized.--
(1) Whenever the cash balance and the current estimated receipts of the Agricultural Conservation Easement Purchase Fund shall be insufficient at any time during any State fiscal year to meet promptly the obligations of the Commonwealth from such fund, the State Treasurer is hereby authorized and directed, from time to time during such fiscal year, to transfer from the General Fund to the Agricultural Conservation Easement Purchase Fund such sums as the Governor directs, but in no case less than the amount necessary to meet promptly the obligations to be paid from such fund nor more than an amount which is the smallest of:
(i) the difference between the amount of debt authorized to be issued under the authority of this act and the aggregate principal amount of bonds and notes (not including refunding bonds and replacement notes) issued; and
(ii) the difference between the aggregate principal amount of bonds and notes permitted under section 14.3(e)3 to be issued during a State fiscal year and the aggregate principal amount of bonds and notes (not including refunding bonds and replacement notes) issued during such State fiscal year.
Any sums so transferred shall be available only for the purposes for which funds are appropriated from the Agricultural Conservation Easement Purchase Fund. Such transfers shall be made hereunder upon warrant of the State Treasurer upon requisition of the Governor.
(2) In order to reimburse the General Fund for moneys transferred from such fund under section 14.2(b)(1),4 there shall be transferred moneys to the General Fund from the Agricultural Conservation Easement Purchase Fund from proceeds obtained from bonds and notes issued under the authority of this act or from other available funds in such amounts and at such times as the Governor shall direct. Such retransfers shall be made upon warrant of the State Treasurer upon requisition of the Governor.

Credits

1981, June 30, P.L. 128, No. 43, § 14.2, added 1988, Dec. 14, P.L. 1202, No. 149, § 3, effective in 60 days. Amended 2006, May 15, P.L. 190, No. 46, § 5, imd. effective.

Footnotes

3 P.S. § 914.1.
3 P.S. § 914.6.
3 P.S. § 914.3.
This section.
3 P.S. § 914.2, PA ST 3 P.S. § 914.2
Current through 2022 Regular Session Act 40. Some statute sections may be more current, see credits for details.
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