HARRISBURG – In a bipartisan vote, the PA House passed legislation sponsored by Lebanon County Rep. Frank Ryan to develop a road map for improving the Commonwealth’s financial condition. House Bill 1995 would create a Keystone Solvency Operating Study Commission to analyze the state’s financial situation and risk factors related to the unfunded obligations of municipalities, school districts, public pension plans, post-employment benefits, and the aftermath of the COVID-19 pandemic. The bipartisan commission would examine lessons learned from coronavirus mitigation efforts – most notably the impact of the statewide shutdown – as well as the recent default in Puerto Rico and the threat of insolvency facing several states. Under the bill, which is now on its way to the state Senate, the commission would have six months to conduct its study and report its findings and recommendations to the governor and General Assembly.

REP. FRANK RYAN