§ 20311. Persian Gulf Conflict Veterans' Compensation Bond Fund
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 51 P.S. Military AffairsEffective: December 18, 2006
Effective: December 18, 2006
51 P.S. § 20311
§ 20311. Persian Gulf Conflict Veterans' Compensation Bond Fund
(a) Purpose of fund.--The Persian Gulf Conflict Veterans' Compensation Bond Fund, which is hereby created in the State Treasury, shall be the source from which all payments are authorized with the approval of the Governor to carry out the purposes of this act. The moneys in the fund shall only be utilized:
(1) Whenever the cash balance and the current estimated receipts of the 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 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 the fund nor more than an amount which is the smallest of:
Any sums so transferred shall be available only for the purposes for which funds are appropriated from the fund. The transfers shall be made under this section upon warrant of the State Treasurer upon requisition of the Governor.
(2) In order to reimburse the General Fund for moneys transferred from such funds under paragraph (1), there shall be transferred to the General Fund from the fund moneys from the 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. The retransfers shall be made upon warrant of the State Treasurer upon requisition of the Governor.
Credits
2006, April 24, P.L. 91, No. 29, § 11, effective upon certification of approval by electorate [Dec. 18, 2006].
51 P.S. § 20311, PA ST 51 P.S. § 20311
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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