S0327B1436A04936 MSP:JSL 04/04/20 #90 A04936
AMENDMENTS TO SENATE BILL NO. 327
Sponsor: REPRESENTATIVE SAYLOR
Printer's No. 1436
Amend Bill, page 1, lines 1 and 2, by striking out ", as
amended,"
Amend Bill, page 1, line 20, by inserting after
"determined,""
providing for COVID-19 debt cost reduction review review; and,
Amend Bill, page 1, lines 27 and 28; page 2, line 1; by
striking out all of said lines on said pages and inserting
Section 1. The act of April 9, 1929 (P.L.177, No.175), known
as The Administrative Code of 1929, is amended by adding an
article to read:
ARTICLE XXI-C
COVID-19 DEBT COST REDUCTION REVIEW
Section 2101-C. Review of refinancing opportunities.
The Treasury Department, in conjunction with the Secretary of
the Budget, the Auditor General and any chairperson of an
authority, commission, agency, board or other State-authorized
entity that has the power to issue debt, shall identify and
review all outstanding debt obligations of the Commonwealth and
its authorities, commissions, agencies, boards or other State-
authorized entities, and submit a report of the findings to the
General Assembly no later than June 30, 2020. In addition to the
identification and review of all outstanding debt obligations,
the report shall identify options for the refinancing of the
outstanding debt obligations to reduce the costs to the
Commonwealth and its authorities.
Section 2. The act is amended by adding a section to read:
Amend Bill, page 3, line 10, by striking out "2" and
inserting
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Amend Bill, page 3, line 10, by striking out " in 60 180
days." and inserting
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as follows:
(1) The addition of section 2402.3 of the act shall take
effect in 180 days.
(2) The remainder of this act shall take effect
immediately.
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See A04936 in
the context
of SB327