Bill Information

An Act declaring that it is the policy of the Commonwealth of Pennsylvania to discourage defaults in municipal obligations, the reduction or elimination of essential municipal programs, and the deterioration and nonconstruction of needed municipal capital improvements; providing for a definition and standards for municipal financial distress; providing for certain parties with standing to seek a distressed determination for a municipality; providing a process for a distressed status determination and removal of said status; providing for the development and adoption of plans to overcome financial problems within distressed municipalities and for enforcement of adopted plans; and authorizing rulemaking.