A group of elected officials in the Pennsylvania House of Representatives and Senate have reintroduced a series of bills making significant changes to the process by which municipalities in Pennsylvania incur debt. The introduction of these bills has become a biennial occurrence; since the 2013-2014 legislative session, similar bills have been introduced, calling for such changes. None of the prior proposals have been enacted into law.
The bills that have been introduced in the 2019-2020 legislative session primarily consist of two packages – one in the House and one in the Senate. The package of reform proposals in the House can be found at House Bills 882-884. The package of reform proposals in the Senate can be found at Senate Bills 204-210. One proposal was introduced as House Bill 320, and is a standalone measure addressing interest rate swaps. We’ve included in this post links to each bill, so that you can monitor the status of the bills.