HB51

Pennsylvania HB51 mandates school districts to annually disclose unfunded pension and postemployment benefit obligations and revises property.

Pennsylvania HB51 requires school districts to calculate and annually disclose unfunded pension and other postemployment benefit obligations per $100,000 of assessed residential property. This disclosure must be published on the district's website, in the annual audited report, and in the tax notice. Additionally, the bill mandates the State Real Estate Commission to revise the property disclosure form to include these obligations. The act aims to ensure transparency in pension and benefit obligations for school districts and property buyers.