Section 2510-504 - StatusThe Pennsylvania College of Technology is granted the benefits and responsibilities of the status of The Pennsylvania State University as a State-related institution and as an instrumentality of the Commonwealth of Pennsylvania. Without limiting the generality of this status, specifically, the following benefits shall be available:
(1) The Pennsylvania College of Technology shall receive an annual appropriation by the Commonwealth as a separate line item of the annual appropriation to The Pennsylvania State University. The Board of Trustees of The Pennsylvania State University shall transmit the appropriation to the Board of Directors of the Pennsylvania College of Technology.(2) The Pennsylvania College of Technology shall be eligible to participate in programs for capital development and improvement under Article XVI-B of the act of April 9, 1929 (P.L. 343, No. 176), known as The Fiscal Code. (3) Employees of the Pennsylvania College of Technology shall be eligible for membership in the State Employees' Retirement System of Pennsylvania or the alternate retirement program under 71 Pa.C.S. Part XXV (relating to retirement for State employees and officers). Employees of the Pennsylvania College of Technology who were employed by The Williamsport Area Community College and participated in the Public School Employees' Retirement System shall be eligible to continue to participate in the Public School Employees' Retirement System of Pennsylvania under 24 Pa.C.S. Part IV (relating to retirement for school employees). The employer's contribution to the Pennsylvania School Employees' Retirement System shall be shared equally by the Pennsylvania College of Technology and the Commonwealth of Pennsylvania in accordance with 24 Pa.C.S. Part IV.(4) Bonds issued by The Pennsylvania State University for the benefit of the Pennsylvania College of Technology, or issued by the Pennsylvania College of Technology, shall be free from taxation within the Commonwealth of Pennsylvania.(5) The Pennsylvania College of Technology shall, in addition to the powers conferred elsewhere in this act, have all the rights, powers, privileges and immunities and, except as otherwise provided in this act, be subject to all the duties and limitations of a nonprofit corporation created under 15 Pa.C.S. Pt. III (relating to corporations not-for-profit) or successor law. 1989, July 1, P.L. 132, No. 27, § 4, imd. effective.