A series of municipal debt reform proposals have been reintroduced in the Pennsylvania Senate.
Versions of these proposals have been introduced in every legislative session dating back to the 2013-2014 term, although the proposals have changed somewhat over the years. This session’s bills are number SB 490 through SB 493.
As with bills from past sessions, the current proposals would change the way municipalities obtain approval from the Department of Community and Economic Development (“DCED”) to issue bonds, notes or other public debt, as well as make a number of reforms to those current provisions governing interest rate swaps, performance bonds and municipal authority projects.Continue Reading Municipal Debt Reform Proposals Reintroduced in State Senate