24 Pa. Stat. § 5152.1
In order to encourage needy students to make timely application for enrollment in postsecondary educational programs, and coordinate the State and Federal evaluation and announcement of the student's eligibility to receive financial aid, the Pennsylvania Higher Education Assistance Agency annually, on the fifteenth day of March, shall have the authority to announce the scholarships and educational assistance grants to be awarded by the agency for the next succeeding academic year pursuant to the provisions of the act of January 25, 1966 (P.L. 1546, No. 541), entitled "An act providing scholarships and providing funds to secure Federal funds for qualified students of the Commonwealth of Pennsylvania who need financial assistance to attend postsecondary institutions of higher learning, making an appropriation, and providing for the administration of this act," and the act of October 11, 1972 (P.L. 909, No. 216), known as the "Veterans' Education Act of 1971," and the act of October 11, 1972 (P.L. 899, No. 213), entitled "An act providing scholarships for certain dependents of members of the armed services who while on active duty are taken as prisoners of war or are reported missing in action and making an appropriation", not to exceed the amounts appropriated for the current fiscal year.
In order to carry out the provisions of section 1 of this act, any appropriation effective during any fiscal year providing moneys to the Pennsylvania Higher Education Assistance Agency for scholarship grants shall, if the General Assembly does not provide by law prior to March 15 of the same fiscal year, to increase, lower or terminate the appropriation, be deemed to be reenacted for the ensuing fiscal year in the same amount and for the same purpose as provided in such appropriation: Provided, however, That the reenacted appropriation shall not be effective until the first day of the ensuing fiscal year.
If the General Assembly at any time hereafter shall enact legislation to reduce appropriations for scholarship grants prior to the fifteenth day of March such enactment shall be applicable to the next succeeding academic year. Should such enactment be made after the fifteenth of March, the provisions thereof shall be applicable to the academic year following the next succeeding academic year.
24 P.S. § 5152.1