Section 2510.3. Assistance to School Districts Declared to be in Financial Recovery Status or Identified for Financial Watch Status.--(a) The following apply:
(1) For the 2013-2014 and 2016-2017 fiscal years, the Department of Education may utilize up to four million five hundred thousand dollars ($4,500,000) of undistributed funds not expended, encumbered or committed from appropriations for grants and subsidies made to the Department of Education to assist school districts declared to be in financial recovery status under section 621-A or identified for financial watch status under section 611-A. The funds shall be transferred by the Secretary of the Budget to a restricted account as necessary to make payments under this section and, when transferred, are hereby appropriated to carry out the provisions of this section.
(2) For the 2017-2018, 2018-2019, 2019-2020, 2020-2021, 2021-2022, 2022-2023, 2023-2024, 2024-2025, 2025-2026 and 2026-2027 fiscal years, the Department of Education may utilize up to seven million dollars ($7,000,000) of undistributed funds not expended, encumbered or committed from appropriations for grants, subsidies and assessments made to the Department of Education to assist school districts declared to be in financial recovery status under section 621-A, identified for financial watch status under section 611-A or 694-A or subject to oversight during the transition period under section 625-A. The funds shall be transferred by the Secretary of the Budget to a restricted account as necessary to make payments under this section and, when transferred, are hereby appropriated to carry out the provisions of this section. ((2) amended July 12, 2026, P.L.220, No.20)
((a) amended Nov. 6, 2017, P.L.1142, No.55)
(b) For the 2013-2014 fiscal year, the amount of seven million five hundred thousand dollars ($7,500,000) of undistributed funds not expended, encumbered or committed from appropriations for grants and subsidies made to the Department of Education shall be transferred to the Financial Recovery School District Transitional Loan Account to make loans as provided under section 681-A.
(2510.3 amended July 13, 2016, P.L.716, No.86)
Compiler's Note: See the preamble to Act 59 of 2013 in the appendix to this act for special provisions relating to legislative findings and declarations.