HB 51 — An Act requiring school districts to provide annual notice relating to certain pension and other postemployment benefit obligations; and providing for property disclosure statement and for duty of State Real Estate Commission.

PRINTER'S NO.   41

                     THE GENERAL ASSEMBLY OF PENNSYLVANIA



                         HOUSE BILL
                         No. 51
                                                 Session of
                                                   2025

     INTRODUCED BY GLEIM AND HAMM, JANUARY 14, 2025

     REFERRED TO COMMITTEE ON EDUCATION, JANUARY 14, 2025


                                    AN ACT
 1   Requiring school districts to provide annual notice relating to
 2      certain pension and other postemployment benefit obligations;
 3      and providing for property disclosure statement and for duty
 4      of State Real Estate Commission.
 5      The General Assembly of the Commonwealth of Pennsylvania
 6   hereby enacts as follows:
 7   Section 1.   Short title.
 8      This act shall be known and may be cited as the Property Tax
 9   Pension Obligation Disclosure Act.
10   Section 2.   Definitions.
11      The following words and phrases when used in this act shall
12   have the meanings given to them in this section unless the
13   context clearly indicates otherwise:
14      "Commission."    The State Real Estate Commission of the
15   Commonwealth.
16      "Other postemployment benefit."      A benefit such as a death
17   benefit, life insurance, disability and long-term care that is
18   paid in the period after employment and provided separately from
19   a pension plan, as well as a health care benefit paid in the
 1   period after employment, regardless of the manner provided. The
 2   term does not include any termination benefit or termination
 3   payment for sick leave.
 4      "Pension."     Retirement income and, if provided through a
 5   pension plan, a postemployment benefit other than retirement
 6   income, including a death benefit, life insurance and a
 7   disability benefit. The term does not include a postemployment
 8   health care benefit or termination benefit.
 9   Section 3.     Duties of school districts.
10      (a)   Calculation of unfunded pension and other postemployment
11   benefit obligations.--Not later than September 30 each year, the
12   governing body of a school district shall calculate the amount
13   of unfunded pension and other postemployment benefit obligations
14   per $100,000 of assessed residential property within the school
15   district.
16      (b)   Publication of annual notice.--The results of the
17   calculation under subsection (a) shall be published as follows:
18            (1)   On the publicly accessible Internet website of the
19      school district as a separate item from other information on
20      the website.
21            (2)   As a footnote in the financial disclosures of the
22      annual audited report of the school district.
23            (3)   In the notice of taxes required under section 6 of
24      the act of May 25, 1945 (P.L.1050, No.394), known as the
25      Local Tax Collection Law.
26   Section 4.     Property disclosure statement.
27      A seller that intends to transfer an interest in real
28   property shall disclose the results of the calculation under
29   section 3(a) as an item on the property disclosure form required
30   under 68 Pa.C.S. § 7304 (relating to disclosure form).

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 1   Section 5.   Duty of commission.
 2      The commission shall, within 90 days of the effective date of
 3   this section, revise the form of the property disclosure
 4   statement under 68 Pa.C.S. § 7304 (relating to disclosure form)
 5   in order to include the results of the calculation required
 6   under section 3(a) as an item on the form and transmit the
 7   revised form to the Legislative Reference Bureau for publication
 8   as a notice in the next available issue of the Pennsylvania
 9   Bulletin.
10   Section 6.   Effective date.
11      This act shall take effect as follows:
12          (1)   Section 4 shall take effect six months after
13      publication of the notice under section 5.
14          (2)   This section shall take effect immediately.
15          (3)   The remainder of this act shall take effect in 60
16      days.




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