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§ 895.705. Conditions on first five payments

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 53 P.S. Municipal and Quasi-Municipal Corporations

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 53 P.S. Municipal and Quasi-Municipal Corporations
Part I. General Municipal Law
Chapter 8C. Municipal Pension Plan Funding Standard and Recovery Act (Refs & Annos)
Chapter 7. Foreign Fire Insurance Tax Distribution (Refs & Annos)
53 P.S. § 895.705
§ 895.705. Conditions on first five payments
Currentness
For the first five years of distributions pursuant to this chapter, payments shall, notwithstanding the formula contained in section 7041 be subject to the following conditions:
(1) No municipality shall receive less than an amount equal to the average of the distribution which it received in 1981, 1982 and 1983.
(2) Municipalities entitled under section 704 to an amount larger than the average referred to in paragraph (1) shall receive the former amount, reduced by such uniform percentage as is necessary to avoid any deficit in the fund.
(3) Notwithstanding any other provisions of this section, if tax revenues in any year are insufficient to fund all municipalities in at least the amount referred to in paragraph (1), then payments to all municipalities shall be reduced by such uniform percentage as is necessary to avoid any deficit in the fund.

Credits

1984, Dec. 18, P.L. 1005, No. 205, § 705, effective Jan. 1, 1985.

Footnotes

1
53 P.S. § 895.704.
53 P.S. § 895.705, PA ST 53 P.S. § 895.705
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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