Section 6926.503 - Certification; calculation of minimum and maximum modifiers(a)Secretary of the Budget certification.--(1) No later than April 15, 2006, and April 15 of each year thereafter, the Secretary of the Budget shall certify all of the following:(i) The total amount of revenue in the fund. In calculating the total amount of revenue in the fund, the secretary shall take into account all of the following:(A) For the certification to be completed no later than April 15, 2006, revenue which: (I) has been deposited into the fund prior to the date of the certification;(II) is reasonably projected to be deposited into the fund during the six months following the date on which the certification is made; and(III) has been appropriated under section 5002.(B) For certifications in subsequent fiscal years:(I) revenue which has been deposited into the fund during the six months prior to the date on which the certification is made; and(II) revenue enumerated in clause (A)(II).(ii) The total amount of revenue in the Property Tax Relief Reserve Fund.(iii) In certifying the amount available for distribution under subsection (e), the secretary shall only certify an amount that is sustainable in subsequent years.(2) If the actual revenue deposited into the fund during the six months following the date on which the certification is made exceeds projections, any revenue in excess of projections shall remain in the fund and may be included in the certification for the subsequent fiscal year.(b)Additional certification.--(1) The department shall calculate each school district's estimated local revenue calculation and certify the calculation to the secretary no later than 30 days after the effective date of this section.(2) By December 15, 2004, and December 15 of each year thereafter, each school district subject to section 324 shall certify to the department the total amount of tax credits under section 324(2).(c)Allocation modifiers.--The secretary shall calculate modifiers for the allocation maximum and the allocation minimum based on the amount available for distribution under subsection (e). (1) If the amount available for distribution for a fiscal year exceeds $750,000,000, the minimum modifier for the allocation minimum shall be a value of .005 per $50,000,000 in excess of $750,000,000. The modifier for the allocation minimum shall not exceed 0.05.(2) If the amount available for distribution for a fiscal year exceeds $750,000,000, the minimum modifier for the allocation maximum shall be a value of .02 per $50,000,000 in excess of $750,000,000. The modifier for the allocation maximum shall not exceed 0.2.(d)Notification.--(1) By April 20, 2006, and April 20 each year thereafter, the secretary shall notify the department whether it is authorized to provide school districts with property tax reduction allocations under section 505.(2) The secretary shall not authorize the department to provide the first property tax reduction allocations until:(i) the certification under subsection (a)(1)(ii) is in compliance with section 504(c)(1); and(ii) the amount available for distribution under subsection (e) is equal to or greater than $400,000,000.(3) Subsequent property tax reduction allocations shall only be authorized when the balance of the Property Tax Relief Reserve Fund is in compliance with section 504(c)(1).(e)Distribution.--(1) For fiscal years 2007-2008 and 2008-2009, the secretary shall distribute the difference between the amount certified under subsection (a)(1)(i) and the sum of all of the following: (i) The amount sufficient to fund reimbursements to eligible school districts pursuant to section 324. The amount deducted pursuant to this clause shall be calculated based on the information provided by school districts pursuant to subsection (b)(2).(ii) The amount of approved claims under section 704.(iii) The amount of approved claims under section 1304(a)(2)(ii).(2) For fiscal year 2009-2010 and each fiscal year thereafter, the secretary shall distribute the difference between the amount certified under subsection (a)(1)(i) and the sum of all of the following:(i) The difference between the sum of the amount of approved claims to be paid in the next fiscal year under section 1304(a)(2)(i) and (3) and the amount of approved claims paid in the 2006-2007 fiscal year under section 1304(a)(1).(ii) The sum of all of the following: (A) The amount sufficient to fund reimbursements to eligible school districts pursuant to section 324. The amount deducted pursuant to this clause shall be calculated based on the information provided by school districts pursuant to subsection (b)(2).(B) The amount of approved claims under section 704.(C) The amount of approved claims under section 1304(a)(2)(ii). 2006, June 27, P.L. 1873, No. 1(Spec. Sess. No. 1), § 503, imd. effective.