Section 20311 - Persian Gulf Conflict Veterans' Compensation Bond Fund(a) Purpose of fund.--The Persian Gulf Conflict Veterans' Compensation Bond Fund, which is hereby created in the State Treasury, shall be the source from which all payments are authorized with the approval of the Governor to carry out the purposes of this act. The moneys in the fund shall only be utilized: (1) For the purpose of providing compensation to veterans in accordance with the provisions of this act.(2) For the administrative costs incurred in any of the purposes in paragraph (1), including the costs incurred in connection with the issuance of the bonds.(b) Interfund transfers authorized.--(1) Whenever the cash balance and the current estimated receipts of the fund shall be insufficient at any time during any State fiscal year to meet promptly the obligations of the Commonwealth from such fund, the State Treasurer is hereby authorized and directed, from time to time during such fiscal year, to transfer from the General Fund to the fund such sums as the Governor directs, but in no case less than the amount necessary to meet promptly the obligations to be paid from the fund nor more than an amount which is the smallest of: (i) the difference between the amount of debt authorized to be issued under the authority of this act and the aggregate principal amount of bonds and notes issued, not including refunding bonds and replacement notes; and(ii) the difference between the aggregate principal amount of bonds and notes to be issued during a State fiscal year and the aggregate principal amount of bonds and notes, not including refunding bonds and replacement notes, issued during such State fiscal year. Any sums so transferred shall be available only for the purposes for which funds are appropriated from the fund. The transfers shall be made under this section upon warrant of the State Treasurer upon requisition of the Governor.
(2) In order to reimburse the General Fund for moneys transferred from such funds under paragraph (1), there shall be transferred to the General Fund from the fund moneys from the proceeds obtained from bonds and notes issued under the authority of this act or from other available funds in such amounts and at such times as the Governor shall direct. The retransfers shall be made upon warrant of the State Treasurer upon requisition of the Governor. 2006 , April 24, P.L. 91, No. 29, §11, effective upon certification of approval by electorate [ 12/18/2006].