HARRISBURG – In a bipartisan vote today, the House passed legislation sponsored by Rep. Frank Ryan (R-Lebanon) to develop a roadmap for improving the Commonwealth’s financial condition.
House Bill 1995
would create a Keystone Solvency Operating Study (SOS) Commission to analyze the Commonwealth’s financial situation and risk factors related to the unfunded obligations of municipalities, school districts, public pension plans and postemployment benefits and the aftermath of the COVID-19 pandemic.
The bipartisan commission would examine lessons learned from coronavirus mitigation efforts – most notably the impact of the statewide shutdown – as well as the recent default in Puerto Rico and the threat of insolvency facing several states.
Under Ryan’s bill, which is now on its way to the Senate, the commission would have six months to conduct its study and report its findings and recommendations to the governor and General Assembly.
Click here for Ryan’s remarks and floor debate
with Rep. Matt Bradford (D-Montgomery) in the House chamber today.
Representative Frank Ryan
101st Legislative District
Pennsylvania House of Representatives
Media Contact: Donna Pinkham