(1) There are and will be funds available to the Commonwealth due to resolution of litigation and administrative proceedings brought by the United States Department of Energy against the petroleum industry for alleged violations of the Federal Petroleum Price and Allocation Regulations.

(2) Where permissible under the terms and conditions of the documents or orders controlling resolution, these moneys are to be distributed to the states for specific energy conservation and assistance programs.

(3) In recognition of the economic plight of low-income persons in this Commonwealth, the high and rising costs of energy, and the substantial reduction in energy consumption which is known to result from effective weatherization, the General Assembly considers it sound public policy to provide additional funding for weatherization for low-income persons, energy assistance for low-income persons and other conservation programs as specified in this act, and further declares that oil overcharge funds shall be utilized to pay the costs of such programs so long as such uses are permissible under the terms and conditions of the documents or orders controlling resolution of the particular oil overcharge matter for which money is received.

(4) By emphasizing assistance for low-income persons with these oil overcharge funds, all of the citizens of this Commonwealth benefit since such assistance will reduce the burden of providing for these low-income persons with tax dollars.

(5) Even as the oil overcharge funds near exhaustion, the need for the continued operation of energy conservation and assistance programs in this Commonwealth remains.

(6) Improved oversight, fraud control measures and income eligibility verification procedures are necessary to ensure that this Commonwealth's low-income residents continue to be served by energy conservation and assistance programs in the most efficient manner possible.