5717 - Additional certificates and medallions. - Pennsylvania Statutes

§ 5717. Additional certificates and medallions. Subject to the limits established in section 5711(c) (relating to power of authority to issue certificates of public convenience), the authority may increase the number of certificates and medallions if it finds a need for additional taxicab service in cities of the first class by issuing certificates and corresponding medallions to applicants on a first-come-first-served basis. Each applicant shall pay a fee in an amount equal to the reasonable market value of the medallions at the time of issuance as determined by the authority. The fee is payable prior to the time of issuance. In determining the reasonable market value of a medallion, the authority shall consider the purchase price in medallion transactions over the prior year as reflected in authority records. The authority in its discretion may hold hearings to determine the reasonable market value of a medallion. In no case shall the number of citywide call or demand service taxicab certificates and medallions issued by the authority exceed 1,600 each. (July 16, 2004, P.L.758, No.94, eff. imd.) 2004 Amendment. Act 94 reenacted and amended section 5717.