Thursday, June 30, 2011

Pennsylvania Legislature takes bankruptcy off the table for Harrisburg

A voluntary bankruptcy is apparently off the table for Harrisburg. On a pair of party line votes, the state House and Senate both passed a fiscal code bill today containing a watered-down version of Sen. Jeffrey Piccola's 11th-hour bid to turn Harrisburg's proposed Act 47 fiscal recovery plan into a mandate.

The alternate language, which Piccola did not draft but does support and which Gov. Tom Corbett is expected to sign, prohibits third-class cities tagged by the state as "financially distressed" from filing for bankruptcy through June of 2012.

Read the full article at Penn Live

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