Section 1102-C.6. Transfer of Tax.--(a) Beginning July 31, 2019, and each July 31 thereafter, the State Treasurer shall transfer from the General Fund to the Housing Affordability and Rehabilitation Enhancement Fund under Article IV-D of the act of December 3, 1959 (P.L.1688, No.621), known as the "Housing Finance Agency Law," an amount under subsection (b).
(1) ((1) deleted by amendment).
(2) ((2) deleted by amendment).
((a) amended July 11, 2024, P.L.674, No.56)
(b) The amount transferred under subsection (a) shall be equal to the following:
(1) For each fiscal year beginning after June 30, 2019, and ending prior to July 1, 2023, forty million dollars ($40,000,000).
(2) For the fiscal year beginning after June 30, 2023, and ending prior to July 1, 2024, sixty million dollars ($60,000,000).
(3) For the fiscal year beginning after June 30, 2024, and ending prior to July 1, 2025, seventy million dollars ($70,000,000).
(4) For the fiscal year beginning after June 30, 2025, and ending prior to July 1, 2026, eighty million dollars ($80,000,000).
(5) For the fiscal year beginning after June 30, 2026, and ending prior to July 1, 2027, ninety million dollars ($90,000,000).
(6) For the fiscal year beginning July 1, 2027, and each fiscal year thereafter, one hundred million dollars ($100,000,000).
((b) amended July 11, 2024, P.L.674, No.56)
(c) Nothing in this section shall be construed to reduce or prohibit increased funding for the Housing Affordability and Rehabilitation Enhancement Fund or the Keystone Recreation, Park and Conservation Fund as provided in the "Housing Finance Agency Law" or other law.
(d) Nothing in this section shall be construed to increase the rate of tax imposed under section 1102-C. ((d) added July 11, 2024, P.L.674, No.56)
(1102-C.6 added June 28, 2019, P.L.50, No.13)
Compiler's Note: See section 36 of Act 13 of 2019 in the appendix to this act for provisions relating to continuation of prior law.