(a)Membership.--Notwithstanding any other law to the contrary, the Board of Finance and Revenue shall consist of the the following members:(1) the State Treasurer or the State Treasurer's designee; and(2) two members nominated by the Governor and approved by the Senate. The State Treasurer or the State Treasurer's designee shall have one vote on the board and the other two members shall each have one vote on the board.
(b) Terms.--Members nominated by the Governor and approved by the Senate shall serve an initial term of four and six years respectively as designated by the Governor at the time of nomination and until their successors have qualified. After theinitial terms, members nominated by the Governor and approved by the Senate shall serve for a term of six years and until a successor has qualified.(c) Member Qualifications.--Each member nominated by the Governor and each member who is a designee of the State Treasurer must satisfy and maintain the following criteria: (1) Be a citizen of the United States.(2) Be a resident of the Commonwealth of Pennsylvania.(3) Be an attorney in good standing before the Supreme Court of Pennsylvania or be a certified public accountant in good standing before the State Board of Accountancy.(4) Have at least ten years of experience in a position requiring substantial knowledge of Pennsylvania tax law.(5) Devote full time to the duties of the office and, while a member, may not engage in any other gainful employment or business, nor hold another office or position of profit in a government of this Commonwealth, any other state or the United States. Nothing in this section may be interpreted to prohibit members of the board from serving in the National Guard and the reserves of the armed forces of the United States while a member of the board.(d) Initial term.--The initial term of the members nominated by the Governor and approved by the Senate shall begin January 1, 2014.(e) Nomination and approval.--The Governor may nominate and the Senate may approve the two board members referred to in subsection (a)(2) as of the effective date of this section.(f) Renomination.--A member may be renominated upon the expiration of the member's term.(g) Vacancies.--Any vacancy shall be filled for theunexpired term in the same manner as set forth in this section.(h) Salary.--Each of the members of the board who are nominated by the Governor and approved by the Senate shall receive an annual salary to be determined by the executive board commensurate with the annual salary received by other boards and commissions.(i)Operation of Board.--Two members of the board shall constitute a quorum. The board shall elect a secretary, who need not be a member of the board. The State Treasurer shall be the chairman of the board and shall, in consultation with the other members, select and appoint the counsel, clerks and other employees as may be necessary to administer the responsibilities of the board and for the proper conduct of its work.(j)Oath of office.--Before entering upon the duties of office, a member shall take and subscribe to an oath or affirmation to faithfully discharge the duties of the office.(k)Actions of board.--The board may take any action that is necessary to properly exercise the duties, functions and powers given the board upon the effective date of this section.(l)Need for majority.--The powers and duties vested in and imposed upon the board shall in all cases be exercised or performed by a majority of the board.(m) Powers.--The board is authorized to promulgate and adopt all rules, regulations and forms as may be necessary or appropriate.Added by P.L. 270 2013 No. 52, § 38, eff. 4/1/2014.