(a) General rule.--There is created a special fund in the Treasury Department to be known as the Fire and Emergency Medical Services Loan Fund to which shall be credited all appropriations made by the General Assembly other than appropriations for expenses of administering this subchapter or grants from other sources to the office as well as repayment of principal and interest on loans made under this subchapter. (b) Requisition.--Upon approval of the loan, the commissioner shall routinely requisition from the fund such amounts as shall be allocated by the office for loans to fire companies or EMS companies. When and as the amounts so allocated as loans to fire companies or EMS companies are repaid pursuant to the terms of the agreements made and entered into with the office, the office shall pay such amounts into the fund, it being the intent of this subchapter that the fund shall operate as a revolving fund whereby all appropriations and payments made thereto may be applied and reapplied to the purposes of this subchapter. (c) Administration.--The commissioner may use up to 50% of the interest payments, but not in excess of tions and payments made thereto may be applied and reapplied to the purposes of this subchapter. (c) Administration.--The commissioner may use up to 50% of the interest payments, but not in excess of $600,000, for administrative costs on an annual basis. (June 29, 2012, P.L.663, No.78, eff. imd.; Dec. 23, 2013, P.L.1256, No.129, eff. 60 days; Oct. 29, 2020, P.L.739, No.91, eff. 60 days) Cross References. Section 7365 is referred to in sections 7363, 7376 of this title.
Pennsylvania Legal Code