Bill > SB1010

This bill proposes to amend the Pennsylvania Constitution to change the state's fiscal period from one year to two years, beginning on July 1 of each odd-numbered year. The amendments impact several sections of Article VIII, primarily modifying references to "fiscal year" to "fiscal period" and adjusting related financial provisions. Key changes include allowing the Governor, State Treasurer, and Auditor General to issue tax anticipation notes within the new two-year fiscal period, modifying debt calculation methods, and requiring the Governor to submit a balanced operating budget and capital budget covering the two-year period. The bill also adjusts provisions related to appropriations, surplus funds, and financial planning, requiring projections for five consecutive two-year fiscal periods. The proposed changes aim to provide more comprehensive and long-term financial planning for the Commonwealth. The bill outlines a process for advertising and submitting these constitutional amendments to voters, requiring passage by the General Assembly and subsequent submission as a single ballot question at an election occurring at least three months after legislative approval.

Government Affairs

https://www.palegis.us/legislation/bills/2025/sb1010