Pennsylvania HB510 amends the Municipalities Financial Recovery Act to restrict asset sales if they raise residential water rates by 25%.
Pennsylvania HB510 amends the Municipalities Financial Recovery Act to modify the powers and duties of receivers in financially distressed municipalities. Specifically, it requires receivers to mandate the sale, lease, or other disposition of assets, but prohibits such actions if they would increase residential water rates by 25%. If the transaction involves a water or wastewater system, the Pennsylvania Public Utility Commission must analyze the impact and submit a report within 90 days. The bill takes effect in 60 days.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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