(a) Allocation of positive tax increments.--Positive tax increments of a tax increment district shall be allocated to the issuing authority for each year from the date when the district is created until that time, after the completion of all improvements specified in the plan or amendments thereto, when the issuing authority has received aggregate tax increments of the district in an amount equal to the aggregate of all expenditures made or monetary obligations incurred for project costs for the district, including the payment of tax increment bonds or notes.

(b) Collection and payment of tax increments.-- Notwithstanding any other provision of law, the finance officer for the municipality which created the district and the finance officer for any municipality or school district which participates in a tax increment district shall, on the next settlement date provided by law, pay over to the issuing authority, out of all such taxes which have been collected, that portion which represents the tax increment allocable to the issuing authority.

(c) Deposit of tax increments.--All tax increments received by the issuing authority shall be deposited into the tax increment fund for the district. Each finance officer may also transmit, for deposit into the fund, additional moneys pursuant to an appropriation by the governing body the officer represents or from any other source. Moneys shall be paid out of the fund by the issuing authority in accordance with section 9(h).¹ To the extent that any moneys remain in the fund after all foregoing costs have been paid or satisfied, the remaining moneys shall be distributed on an equal basis to all municipalities and school districts which participated in the tax increment district.