Pennsylvania Act 2006-187 — FISCAL CODE - PROPERTY SUBJECT TO CUSTODY AND CONTROL OF COMMONWEALTH IN ABANDONED AND UNCLAIMED PROPERTY

Act text

Session of 2006

No. 2006-187

SB 1263

AN ACT

Amending the act of April 9, 1929 (P.L.343, No.176), entitled, as amended, "An act relating to the finances of the State government; providing for the settlement, assessment, collection, and lien of taxes, bonus, and all other accounts due the Commonwealth, the collection and recovery of fees and other money or property due or belonging to the Commonwealth, or any agency thereof, including escheated property and the proceeds of its sale, the custody and disbursement or other disposition of funds and securities belonging to or in the possession of the Commonwealth, and the settlement of claims against the Commonwealth, the resettlement of accounts and appeals to the courts, refunds of moneys erroneously paid to the Commonwealth, auditing the accounts of the Commonwealth and all agencies thereof, of all public officers collecting moneys payable to the Commonwealth, or any agency thereof, and all receipts of appropriations from the Commonwealth, authorizing the Commonwealth to issue tax anticipation notes to defray current expenses, implementing the provisions of section 7(a) of Article VIII of the Constitution of Pennsylvania authorizing and restricting the incurring of certain debt and imposing penalties; affecting every department, board, commission, and officer of the State government, every political subdivision of the State, and certain officers of such subdivisions, every person, association, and corporation required to pay, assess, or collect taxes, or to make returns or reports under the laws imposing taxes for State purposes, or to pay license fees or other moneys to the Commonwealth, or any agency thereof, every State depository and every debtor or creditor of the Commonwealth," further providing, in abandoned and unclaimed property, for property subject to custody and control of Commonwealth.

The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows:

Section 1. Section 1301.2 of the act of April 9, 1929 (P.L.343, No.176), known as The Fiscal Code, is amended by adding a subsection to read:

Section 1301.2. Property Subject to Custody and Control of the Commonwealth.--* * *

(c) Any property presumed to be abandoned and unclaimed under this article that is held by a rural electric cooperative organized or qualified to do business in this Commonwealth under 15 Pa.C.S. Ch. 73 (relating to electric cooperative corporations) may, at the discretion of the rural electric cooperative, be retained and used by the rural electric cooperative if the property is used within the rural electric cooperative's service territory for energy assistance, educational or civic purposes under a program adopted by the board of directors of the rural electric cooperative. The rural electric cooperative shall comply with the reporting requirements of this act with respect to such property and shall include with its report a certificate of compliance with the provisions of this subsection that is signed by the chief executive officer of the rural electric cooperative.

Section 2. This act shall take effect in 60 days.

APPROVED--The 29th day of November, A. D. 2006.

EDWARD G. RENDELL