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Pennsylvania HB1149

An Act providing for the Public School Employees' Retirement System Reform Act, for payment of the Commonwealth's public school employees' retirement code contributions; establishing the Public School Employees' Retirement Contribution Restricted Account; imposing duties on the Public School Employees' Retirement Board; imposing duties on the Secretary of the Budget; imposing duties on the Department of Revenue; making an appropriation; providing for bond issuance, for criteria for bond issuance, for issuance of bond and security, for sale of bonds, for use of bond proceeds, for payment of bond-related obligations, for Commonwealth not to impair bond-related obligations, for no personal liability and for expiration of authority to issue bonds; establishing the Public School Employees' Retirement Debt Service and Sinking Account; imposing a duty on the Pennsylvania Liquor Control Board; providing for a certification of amounts payable from account and for school district assistance for fiscal year 2016-2017; and making a repeal.