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PA HB51
Bill
Status
1/14/2025
Primary Sponsor
Barbara Gleim
Click for details
AI Summary
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School districts must calculate unfunded pension and other postemployment benefit obligations per $100,000 of assessed residential property by September 30 each year
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Calculation results must be published on the school district website, in annual audited financial reports, and in property tax notices
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Sellers of real property must disclose the school district's unfunded obligation calculation on the standard property disclosure form
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State Real Estate Commission must revise the property disclosure form within 90 days to include the pension obligation information
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"Other postemployment benefits" include death benefits, life insurance, disability, long-term care, and health care benefits paid after employment, but exclude termination benefits and sick leave payments
Legislative Description
Requiring school districts to provide annual notice relating to certain pension and other postemployment benefit obligations; and providing for property disclosure statement and for duty of State Real Estate Commission.
Last Action
Referred to Education
1/14/2025