PA HB229

Establishes the Keystone Solvency Operating Study Commission as a 5-member legislative body with appointments from the Governor, Senate President pro tempore, House Speaker, and both minority leaders

Requires the commission to analyze Pennsylvania's financial risks including unfunded pension liabilities, municipal and school district solvency concerns, deferred infrastructure maintenance, and debt service obligations

Directs study of Puerto Rico's PROMESA insolvency and other states' financial vulnerabilities to assess whether Pennsylvania could face bankruptcy and the potential impact on PSERS and SERS pension contributions and benefit payments

Mandates development of 5-year cash flow projections with the Independent Fiscal Office under best-case, expected, and worst-case economic scenarios, plus creation of critical risk metrics for quarterly monitoring

Commission must report findings within 12 months of first meeting and expires 60 days after delivering its report; members serve without compensation