Pennsylvania § 5708 - Funds.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 5708 — Funds., with citation guidance and answers to common questions.
§ 5708. Funds.
(a) Regulatory Fund.--The Philadelphia Taxicab and Limousine Regulatory Fund is established as a special fund in the State Treasury. A balance remaining in the regulatory fund and previously held by the authority shall be transferred to the special fund in the State Treasury upon the effective date of section 5710 (relating to fees). The regulatory fund shall be the primary operating fund of the authority for the administration and enforcement of this chapter and shall be administered as follows:
(1) Except as provided in subsection (a.1), the assessments, fees, penalties and other revenues, interest earned by the regulatory fund, refunds and repayments related to the administration and enforcement of this chapter shall be deposited into the regulatory fund.
(2) Money deposited in the regulatory fund is reserved for the use of the authority and shall be transferred in equal amounts each month by the State Treasurer to the authority for the purposes of administering and enforcing this chapter.
(3) Upon the effective date of this paragraph, the money in the regulatory fund shall be held and maintained as provided in paragraph (2).
(a.1) Medallion Fund.--The Philadelphia Taxicab Medallion Fund is established as a special fund in the State Treasury.
(1) The consideration, revenue, fees, interest earned by the medallion fund, refunds, repayments and other deposits related to the sale of medallions as provided in section 5717(b) (relating to additional certificates and medallions), shall be deposited into the medallion fund.
(2) Money deposited in the medallion fund is reserved for the use of the authority and shall be transferred in equal amounts each month by the State Treasurer to the authority solely for the purposes of administering and enforcing taxicab regulation under this chapter.
(b) (Reserved).
(c) (Reserved).
(c.1) Audit.--The authority shall have at least one annual examination of its books, accounts and records related to each of the funds established by this section by a certified public accountant.
(d) (Reserved).
(e) (Reserved).
(f) (Reserved).
(July 16, 2004, P.L.758, No.94, eff. imd.; July 9, 2013, P.L.455, No.64, eff. imd.)
Special Provisions in Appendix. See section 7 of Act 64 of 2013 in the appendix to this title for special provisions relating to appropriation from Philadelphia Taxicab and Limousine Regulatory Fund.
Cross References. Section 5708 is referred to in sections 5701, 5707 of this title; section 6507 of Title 75 (Vehicles).
Frequently Asked Questions About Pennsylvania § 5708
What does Pennsylvania Consolidated Statutes § 5708 cover?
Section 5708 ("Funds.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 5708?
A common citation format is "Pennsylvania Consolidated Statutes § 5708" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 5708 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.