Property Tax Relief Fund

Act 71 of 2004, the Pennsylvania Race Horse Development and Gaming Act, created the Property Tax Relief Fund to provide
local property and wage tax relief payments to school districts. The fund receives revenue from the State Gaming Fund
representing the balance of money collected in the State Gaming Fund after other distributions. Act 1 of Special Session 1 of 2006,
the Taxpayer Relief Act, further provides for the distribution of funds from the Property Tax Relief Fund to school districts. In
addition, transfers are made to the State Lottery Fund for an expanded Property Rent Rebate Program and supplemental senior
citizen tax reduction payments. The fiscal year ending balances include the Property Tax Relief Reserve Account and funding for
property tax relief payments made in August and October each year.

Statement of Cash Receipts and Disbursements:

(Dollar Amounts in Thousands)

Cash Balance, Beginning............................................................

2010-11

2011-12

2012-13

Actual

Available

Estimated

543,450

518,016

534,095

756,152

785,200

828,100

Receipts:
Transfer from State Gaming Fund.................................................
Property Tax Relief Reserve Fund Loan Repayment.....................

6,385

Interest.........................................................................................

814

694

694

Total Receipts ...........................................................................

756,966

792,279

835,179

Total Funds Available .................................................................

6,385

1,300,416

1,310,295

1,369,274

595,000

595,000

595,000

Disbursements:
Property Tax Relief Payments:
Department of Education
General Property Tax Relief.....................................................
Sterling
g Act...............................................................................

21,500
,

17,100
,

17,100
,

Subtotal: Education Property Tax Relief Payments.............

616,500

612,100

612,100

137,800

Department of Revenue
Expanded Prop Tax/Rent Rebate/Senior Tax Reductions........

129,100

135,900

Cities and High-Burden............................................................

26,900

28,200

29,000

Subtotal: Revenue Property Tax Relief Payments...............

156,000

164,100

166,800

Total Property Tax Relief Disbursements....................................

772,500

776,200

778,900

Expanded Prop Tax/Rent Rebate/Senior Tax Reductions........

9,900

Total Disbursements...............................................................

-782,400

-776,200

-778,900

Transfer to State Lottery Fund

Cash Balance, Ending..................................................................

a
b
c

518,016

534,095

590,374

2010-11 Actual includes a balance of $34,763,795 in the Property Tax Relief Reserve Account.
2011-12 Available includes a balance of $24,900,969 in the Property Tax Relief Reserve Account.
2012-13 Estimated includes a balance of $48,885,469 in the Property Tax Relief Reserve Account.

01/09/12
PropTaxRelief.xls

H64

Governors Executive Budget 2012-13