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§ 1704-E.4. Intercept payments

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: July 13, 2016

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 72 P.S. Taxation and Fiscal Affairs
Chapter 1. The Fiscal Code (Refs & Annos)
Article XVII-E.4. School District Intercepts for the Payment of Debt Service During Budget Impasse (Refs & Annos)
Effective: July 13, 2016
72 P.S. § 1704-E.4
§ 1704-E.4. Intercept payments
Currentness
(a) General rule.--An intercept payment shall be made to the fiscal agent for the obligations and shall be made on the day the scheduled payment for principal and interest is due.
(b) Limitation.--The total amount of all intercept payments under this article may not exceed 50% of the total non-Federal General Fund subsidy payments made to the subject school district in the prior fiscal year.

Credits

1929, April 9, P.L. 343, No. 176, art. XVII-E.4, § 1704-E.4, added 2016, July 13, P.L. 664, No. 85, § 21, imd. effective.
72 P.S. § 1704-E.4, PA ST 72 P.S. § 1704-E.4
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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