HARRISBURG – By a vote of 113-88, the House today advanced legislation sponsored by Rep. Frank Ryan (R-Lebanon) that would establish a bipartisan Keystone Solvency Operating Study (SOS) Commission to help improve the Commonwealth’s financial standing and outlook.
“My bill would enable us to track economic trends here at home and across the country,” Ryan said. “We cannot take for granted that a state cannot go bankrupt as some are tracking in that direction, but we can learn from mistakes made here and in other states and work hard to avoid them.
“Under House Bill 120
, this bipartisan, legislative commission would analyze past and projected economic conditions and risk factors related to the unfunded obligations of municipalities, school districts, public pension plans and post-employment benefits, as well as the aftermath of the COVID-19 pandemic,” said Ryan. “It would examine lessons learned from coronavirus mitigation efforts – most notably the impact of the statewide shutdown. The study would also ensure that the priority of financial claims is understood within the framework of the Constitution of Pennsylvania.”
Under Ryan’s bill, the commission would have 12 months to conduct its study and report its findings and recommendations to the governor and General Assembly.
House Bill 120 is now headed to the Senate for consideration.
Representative Frank Ryan
101st Legislative District
Pennsylvania House of Representatives
Media Contact: Donna Pinkham