Special funds

Act 238 of 2004, § 302-A, under TRANSIT REVITALIZATION INVESTMENT DISTRICT ACT - ENACTMENT.

Act 238 of 2004, § 302-A

Section 302-A. Special funds.

(a) Notice.--Following the approval of an application under section 301-A, a qualified authority shall notify the State Treasurer who shall create a special fund to be known as the Military Installation Remediation Fund.

(b) Establishment.--Upon receipt of notice under subsection (a), the State Treasurer shall establish for each qualified former military installation a restricted account within the special fund for the benefit of the qualified authority. Interest income derived from the investment of money in a restricted account shall be credited by the State Treasury to the restricted account.

(302-A added Nov. 27, 2019, P.L.695, No.101)