Section 1703-E.4 - Budget impasse.(a) General rule.--The amounts as may be necessary for the department or secretary to comply with the provisions of the applicable intercept statute or intercept agreement shall be appropriated to the department from the general fund after the department or secretary submits justification for the appropriation to the chair and minority chair of the appropriations committee of the senate and the chair and minority chair of the appropriations committee of the house of representatives allowing 10 days for their review and comment if in any fiscal year: (1) The annual appropriations for payment of commonwealth money to school districts have not been enacted by July 1 and continue to be not enacted when a payment is due;(2) The conditions under which the department or the secretary must comply with the applicable intercept statute or intercept agreement have occurred, thereby requiring the department or the secretary to withhold money from payments due to school districts; and(3) The secretary, in consultation with the secretary of the budget, determines that there are no payments or allocations due to be paid to the school district from which the department or secretary may withhold money as required by the applicable intercept statute or intercept agreement.(b)Accounting for intercept payments.--Upon enactment of the annual appropriations for a fiscal year in which a budget impasse occurs, against which the intercept statute or intercept agreement may be applied, the amounts expended by the department under subsection (a) since July 1 shall be withheld from the share of such appropriation or allocations due the subject school district for which the secretary or the department exercise their powers under the intercept statute or intercept agreement.(c) Loan documentation.--Each school district subject to an intercept statute or intercept agreement shall deliver to the department, in such format as the department may direct, a copy of its final official statement or loan documents relating to the obligations within 30 days of the date that it receives the proceeds of a bond or note, or the principal amount of a loan, if the proceeds or principal are within the scope of the applicable intercept statute or intercept agreement. Loan documentation provided to the department shall include a schedule of principal and interest payments. Any obligation for which the department does not receive the required documentation by the required time shall not be subject to the applicable intercept statute or intercept agreement. Added by P.L. TBD 2016 No. 85, § 21, eff. 7/13/2016.