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PA Bulletin, Doc. No. 06-1258

 

Title 61--REVENUE

DEPARTMENT OF REVENUE

[61 PA. CODE CH. 1001]

[36 Pa.B. 3789]
[Saturday, July 15, 2006]

[Correction]

Pennsylvania Gaming Cash Flow Management; Temporary Regulations

   An error occurred in the document which appeared at 36 Pa.B. 3450, 3452 (July 1, 2006), in which the Department of Revenue adopted a temporary regulation in § 1001.5(b)(5)(iv) (relating to administration and distribution of moneys held by licensed gaming entities and the Commonwealth). The number of banking days in the first sentence of subparagraph (iv) was reflected inaccurately. It should have read ''within 15 banking days.''

   The correct version of § 1001.5(b)(5)(iv) is as follows, with ellipses referring to the existing text of that section:

Annex A

TITLE 61. PENNSYLVANIA GAMING CASH FLOW MANAGEMENT

CHAPTER 1001. PENNSYLVANIA GAMING CASH FLOW MANAGEMENT

GENERAL PROVISIONS

§ 1001.5. Administration and distribution of moneys held by licensed gaming entities and the Commonwealth.

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   (b)  Deposits and transfers to Treasury by licensed gaming entities.

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   (5)  The administration of assessments will be as follows:

*      *      *      *      *

   (iv)  Distributions of local share assessments to municipalities. If a licensed gaming entity fails to reach the requisite annual minimum distribution as required under the act within 15 banking days following the end of the municipality's fiscal year, the Department will notify the licensed gaming entity of the shortfall and the amount to be remitted. A licensed gaming entity shall remit the difference required to meet the requisite annual minimum distribution as required under the act within 15 banking days following the end of the municipality's fiscal year. The licensed gaming entity shall remit the required payment to the Department for distribution in accordance with the act. Distributions specified in this chapter shall be made by the licensed gaming entity to the Department or the respective municipality, no later than 15 banking days from the Department's notice of the shortfall.

*      *      *      *      *

[Pa.B. Doc. No. 06-1258. Filed for public inspection June 30, 2006, 9:00 a.m.]

 
 


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