2010 Pennsylvania Code
Title 75 - VEHICLES
Chapter 89 - Pennsylvania Turnpike
8917 - Financial plan.

     § 8917.  Financial plan.
        (a)  Submission.--
            (1)  No later than June 1 of each year, the commission
        shall prepare and provide to the Secretary of the Budget a
        financial plan for the ensuing fiscal year of the commission
        that describes the commission's proposed:
                (i)  operating and capital expenditures;
                (ii)  borrowings;
                (iii)  liquidity and other financial management
            covenants and policies;
                (iv)  estimated toll rates; and
                (v)  all other revenues and expenditures.
            (2)  The financial plan shall demonstrate that the
        operation of the commission in accordance with the plan can
        reasonably be anticipated to result in the commission having
        unencumbered funds during the ensuing and future fiscal years
        of the commission sufficient to make the payments due to the
        department under this chapter and the lease agreement for the
        ensuing and future fiscal years after all other obligations
        of the commission have been met. Financial plans prepared
        after June 1, 2008, shall also describe any deviations that
        occurred from the financial plan for the prior fiscal year of
        the commission and the reasons for the deviations.
        (b)  Receipt.--If the Secretary of the Budget receives the
     financial plan by the date required under subsection (a), the
     commission shall be authorized to conduct its operations in
     accordance with the plan. The financial plan may not be amended
     by the commission unless the commission notifies the secretary
     in writing of the amendment.
        (c)  Cooperation.--The commission shall provide to the
     Secretary of the Budget all information requested in connection
     with review of a financial plan, including materials used to
     prepare the plan. The information shall be provided as soon as
     practicable after the request.
        (d)  Effect of provisions.--Nothing in this section shall be
     deemed to prevent the commission from conducting its normal
     course of business or prevent the commission from complying with
     any covenants made to current bondholders, debt holders or
     creditors.
        (e)  Lease agreement.--The provisions of this section and
     section 8918 (relating to failure to perform) shall be included
     in the lease agreement.
     (July 18, 2007, P.L.169, No.44, eff. imd.)

        2007 Amendment.  Act 44 added section 8917. Section 11.1 of
     Act 44 provided that Act 44 shall apply retroactively to July 1,
     2007.
        Cross References.  Section 8917 is referred to in section
     8918 of this title.