Section 12720.509 - Dedication and disbursement(a)Local Sales and Use Tax Fund.--There is hereby created a Local Sales and Use Tax Fund. The State Treasurer shall be custodian of the Local Sales and Use Tax Fund, which shall be subject to the provisions of law applicable to funds listed in section 302 of the act of April 9, 1929 (P.L. 343, No. 176), known as The Fiscal Code. Except to the extent provided in Chapter 6, taxes imposed pursuant to section 503 shall be received by the department and paid to the State Treasurer and, along with interest and penalties, less any collection costs allowed under this chapter and any refunds and credits paid, shall be credited to the Local Sales and Use Tax Fund not less frequently than every two weeks. During any period prior to the credit of moneys to the Local Sales and Use Tax Fund, interest earned on moneys received by the department and paid to the State Treasurer pursuant to this chapter shall be deposited into the Local Sales and Use Tax Fund. Moneys credited to the Local Sales and Use Tax Fund shall be at all times property of the city and shall be distributed as provided in this section. All moneys in the Local Sales and Use Tax Fund, including, but not limited to, moneys credited to the fund pursuant to this section, prior year encumbrances and the interest earned thereon, shall not lapse or be transferred to any other fund, but shall remain in the Local Sales and Use Tax Fund and must be used exclusively as provided in this section. Pending their disbursement to cities, moneys received on behalf of or deposited into the Local Sales and Use Tax Fund shall be invested or reinvested as are other funds in the custody of the State Treasurer in the manner provided by law. All earnings received from the investment or deposit of such funds shall be credited to the Local Sales and Use Tax Fund.(b)Disbursement to cities.--On or before the 10th day of every month, the State Treasurer shall disburse to the city imposing the tax under this chapter the total amount of moneys which are, as of the last day of the previous month, contained in the Local Sales and Use Tax Fund. 1991, June 5, P.L. 9, No. 6, § 509, imd. effective.