Section 1704-E.4. Intercept payments.
(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.
(1704-E.4 added July 13, 2016, P.L.664, No.85)