Section 3838.9 - Fund reimbursementThe Commonwealth shall reimburse each public fund for the public fund's net losses, costs and expenses incurred as a result of compliance with the provisions of this act. The reimbursements shall occur in the following manner:
(1) The public fund shall submit to the Secretary of the Budget an itemization of the amount necessary to be appropriated by the General Assembly to reimburse the public fund for their net losses, costs and expenses incurred as a result of compliance with the provisions of section 4(a) and (b) in the previous fiscal year. This paragraph shall only apply to net losses, costs and expenses incurred after the effective date of this section and relating to a first year after sale, redemption, divestiture or withdrawal under section 4(a) and (b). To the extent the public fund experiences net gains as a result of compliance with the provisions of section 4(a) and (b) in a fiscal year, the net gains shall be used to offset any reported costs or expenses incurred by the public fund.(2) In consultation with each public fund, the Secretary of the Budget shall annually establish a uniform method for the determination of gains and losses under paragraph (1). The method shall be used by each public fund in making a claim for reimbursement under this section. The budget submission shall be on a form and in a manner determined by the Secretary of the Budget, including net losses, along with an itemized accounting of all costs and expenses claimed by the public fund. Budget submission shall occur no later than November 1 following the fiscal year in which the net losses, costs and expenses were incurred.(3) Upon appropriation by the General Assembly to provide for the obligations of the Commonwealth, the amount shall be paid by the State Treasurer through the Department of Revenue into the public fund within 90 days of receipt of the requisition presented by the public fund.Added by P.L. TBD 2022 No. 132, § 9, eff. 11/3/2022.