Pennsylvania HB 2092: An Act amending the act of April 9, 1929 (P.L.343, No.176), known as The Fiscal Code, in disposition of abandoned and unclaimed property, further providing for certificate of finder registration, for notice and publication of lists of property subject to custody and control of the Commonwealth under this article, for income accruing after payment or delivery, for deposit of funds, for determination of claims, for penalties and for interdepartmental cooperation and providing for annual report.

Bill Text

PRINTER'S NO. 2688
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 2092
Session of
2025
INTRODUCED BY GROVE, PICKETT AND KAUFFMAN, DECEMBER 9, 2025
REFERRED TO COMMITTEE ON EDUCATION, DECEMBER 9, 2025
AN ACT
Amending the act of March 10, 1949 (P.L.30, No.14), entitled "An
act relating to the public school system, including certain
provisions applicable as well to private and parochial
schools; amending, revising, consolidating and changing the
laws relating thereto," in school finances, providing for
reduction of school district debt.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The act of March 10, 1949 (P.L.30, No.14), known
as the Public School Code of 1949, is amended by adding a
section to read:
Section 641. Reduction of School District Debt.-- (a) A
school district that received money for a construction project
approved by the Department of Education under Article XVII-E.2
of the act of April 9, 1929 (P.L.343, No.176), known as "The
Fiscal Code," before the effective date of this section, shall
reduce any debt incurred by the school district in an amount
equal to the money received by the school district.
(b) A school district that receives money for a construction
project approved by the Department of Education under Article
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XVII-E.2 of "The Fiscal Code" after the effective date of this
section shall use the money to reduce any debt incurred by the
school district to pay for the construction project.
(c) A school district shall reduce the school district's
millage rate as the school district reduces the debt incurred
for the project as required under this section. As used in this
subsection, the term "project" shall have the meaning given to
it in 64 Pa.C.S. § 1504 (relating to definitions) or any project
of a school district that is eligible for reimbursement by the
Commonwealth as required under subarticle (f) of Article XXV for
approved rental or sinking fund charges.
Section 2. This act shall take effect in 60 days.
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