Bill > HB1221

This bill amends the Pennsylvania Consolidated Statutes to establish specific duties for nonprofit corporations engaged in public-private partnerships with the Commonwealth. Under the new provisions, such nonprofits must: (1) comply with the Right-to-Know Law, which ensures transparency in government records and operations; (2) submit an annual comprehensive financial report to the Governor's Office and General Assembly using generally accepted accounting principles established by the Governmental Accounting Standards Board; (3) publicly disclose on their website any purchases made for or on behalf of the Governor or other state officials within 10 business days of the purchase; and (4) adhere to the Sarbanes-Oxley Act, a federal law designed to protect investors by improving the accuracy and reliability of corporate financial disclosures. These requirements aim to increase transparency, accountability, and financial oversight for nonprofit organizations working in collaboration with the state government. The bill will take effect 60 days after its enactment.

Government Affairs

https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2025&sind=0&body=H&type=B&bn=1221