|Posted:||January 12, 2018 04:05 PM|
|From:||Representative Francis X. Ryan|
|To:||All House members|
|Subject:||LEGISLATION: PROPERTY TAX PENSION OBLIGATION DISCLOSURE ACT|
|In the near future, I intend to introduce legislation which will provide transparency to current and prospective property owners.
This legislation will require the governing body of each school district to calculate the amount of unfunded pension and other postemployment benefit obligations per $100,000 of assessed residential property within the school district. The results of the calculation must be published as follows:
Additionally, this legislation will require a seller who intends to transfer an interest in real property to disclose the results of the calculation as an item on the property disclosure form. This will help provide prospective homeowners information on the financial solvency of their school district and allow them to make more informed decisions.
I hope you will join me in cosponsoring this important legislation.
Introduced as HB2064