(a) General rule.--There is created a special fund in the Treasury Department to be known as the Volunteer Companies Loan Fund to which shall be credited all appropriations made by the General Assembly other than appropriations for expenses of administering this subchapter or grants from other sources to the office as well as repayment of principal and interest on loans made under this subchapter.
(b) Requisition.--Upon approval of the loan, the commissioner shall routinely requisition from the Volunteer Companies Loan Fund such amounts as shall be allocated by the office for loans to volunteer companies. When and as the amounts so allocated as loans to volunteer companies are repaid pursuant to the terms of the agreements made and entered into with the office, the office shall pay such amounts into the Volunteer Companies Loan Fund, it being the intent of this subchapter that the Volunteer Companies Loan Fund shall operate as a revolving fund whereby all appropriations and payments made thereto may be applied and reapplied to the purposes of this subchapter.
(c) Administration.--Each fiscal year, the State Fire Commissioner may use an amount up to $250,000 from the Volunteer Companies Loan Fund for the administrative cost of implementing the loan program under this subchapter.
(June 29, 2012, P.L.663, No.78, eff. imd.; Dec. 23, 2013, P.L.1256, No.129, eff. 60 days)
2013 Amendment. Act 129 amended subsecs. (a) and (b).
2012 Amendment. Act 78 added subsec. (c).
Cross References. Section 7365 is referred to in sections 7363, 7376 of this title.
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