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171 PENNSYLVANIA UNEMPLOYMENT COMPENSATION LAW PENNSYLVANIA UNEMPLOYMENT COMPENSATION LAW PENNSYLVANIA UNEMPLOYMENT COMPENSATION LAW

proper administration of this act and are available for such replacement,

whether or not such moneys were expended or the obligations covering

such expenditures were incurred prior or subsequent to the enactment

of this amendment. The moneys in this fund shall be continuously available

for expenditure in accordance with the provisions of this section, and shall not

lapse at any time or be transferred to any other fund except as herein provided

and as provided under section three hundred eleven, wherein an amount

equal to any refund or credit of interest or penalties shall be transferred from

the Special Administration Fund to the Unemployment Compensation Fund.

(b) All moneys in the fund in excess of two hundred thousand dollars

($200,000) on June 25th of each year shall be transferred to either the

Unemployment Compensation Fund and credited to the Employers'

Contribution Account as specified in section 601 or the Job Training Fund

as specified in section 601.4, or transferred to both, as determined by

the department, in consultation with the Secretary of the Budget. If the

department determines that such excess shall be transferred to both the

Unemployment Compensation Fund and the Job Training Fund, the

department, in consultation with the Secretary of the Budget, shall

determine what portion of such excess is transferred to each fund. (601.1 amended June 15, 2005, P.L.8, No.5) Section 601.2. Debt Service Fund.--

(a) There is hereby established a separate account in the State Treasury, to be

known as the Debt Service Fund. All taxes collected under section 301.6

of this act shall be paid into the Debt Service Fund. The moneys in this

fund shall be used in the following priority order and such funds received

are hereby appropriated for all of the following purposes:

(1) For payment of bond obligations and bond administrative expenses;

for replenishment of bond reserves; for maintenance of debt service

reserves in an amount the department, with approval by the Office of

the Budget, determines necessary to maintain an adequate debt

service coverage ratio; and for early, optional, mandatory or other

refundings, redemptions or purchases of outstanding bonds under

Article XIV of this act.

(2) For the payment of annual interest obligations assessed under

Title XII of the Social Security Act.