Section 6926.504 - Property Tax Relief Reserve Fund(a)Fund established.--There is established in the State Treasury a restricted receipts account to be known as the Property Tax Relief Reserve Fund.(b)Receipts.--The secretary is authorized to transfer funds from the fund into the Property Tax Relief Reserve Fund necessary to comply with the requirements of subsection (c).(c)Balance.--(1) The secretary shall ensure that 25% of the amount available for distribution under section 503(e), but in no case more than $150,000,000, exists in the Property Tax Relief Reserve Fund prior to making an authorization under section 503(d).(2) If a transfer was made under subsection (d) in the prior year, the secretary shall deposit funds necessary to ensure that 25% of the amount available for distribution under section 503(e), but in no case more than $150,000,000, is available in the Property Tax Relief Reserve Fund prior to making an authorization under section 503(d).(d)Transfers.--(1) The secretary may authorize a transfer from the Property Tax Relief Reserve Fund to the fund if the amount for distribution under section 503(e) is less than the amount for distribution under section 503(e) made in the prior year. The amount of the transfer under this subsection shall be equal to the difference between the amount for distribution under section 503(e) and the amount for distribution under section 503(e) made in the prior year.(2) The secretary shall transfer any interest that has accrued from the revenue in the Property Tax Relief Reserve Fund to the fund on an annual basis.(e)Nonlapse.--The money in the Property Tax Relief Reserve Fund is continuously appropriated to the Property Tax Relief Reserve Fund and shall not lapse at the end of any fiscal year. 2006, June 27, P.L. 1873, No. 1(Spec. Sess. No. 1), § 504, imd. effective.