Court Battle over PSU Fund
By: Kevin Flanigan
Updated: March 14, 2013
HARRISBURG - Pennsylvania State Treasurer Rob McCord is asking a federal court to keep Penn State's Sandusky fines in Pennsylvania.
The State Treasurer on Thursday asked the Federal Court to reject the National Collegiate Athletic Association's lawsuit challenging control of Penn State University sanction fund. McCord said he intents to defend the State Legislature's attempt to spend those funds on sex abuse victim and prevention programs within Pennsylvania.
Penn State has agreed to contribute $60 million dollars to an endowment fund over the next five years as part of a consent decree between Penn State and the NCAA. State Legislation now requires that those funds be deposited into a special account under the Treasurer's control.
The State Treasurer on Thursday asked the Federal Court to reject the National Collegiate Athletic Association's lawsuit challenging control of Penn State University sanction fund. McCord said he intents to defend the State Legislature's attempt to spend those funds on sex abuse victim and prevention programs within Pennsylvania.
Penn State has agreed to contribute $60 million dollars to an endowment fund over the next five years as part of a consent decree between Penn State and the NCAA. State Legislation now requires that those funds be deposited into a special account under the Treasurer's control.
