Bill > HB51

This bill, known as the Property Tax Pension Obligation Disclosure Act, requires school districts to calculate and publicly disclose their unfunded pension and other postemployment benefit obligations annually. Specifically, school districts must calculate the amount of these unfunded obligations per $100,000 of assessed residential property by September 30 each year, and then publish these results on their website, in their annual audited financial report, and in their tax notices. The bill also mandates that when selling real property, sellers must include these pension obligation calculations on the property disclosure form. The State Real Estate Commission is required to update the property disclosure form within 90 days to include this information. The bill defines key terms like "pension" and "other postemployment benefit," which include various post-employment financial supports such as retirement income, death benefits, life insurance, and disability benefits, but exclude termination payments. The bill will take effect in stages, with different sections becoming active at different times, ranging from immediate implementation to six months after publication.

Education

https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2025&sind=0&body=H&type=B&bn=51