Legislative Update

PENNSYLVANIA REGULATION OF MORTGAGE SERVICERS Senate Bill No. 75, now known as Pennsylvania Act No. 81 of 2017 (the “Amendment”), amends Pennsylvania’s Mortgage Licensing Act (the “Law”) to provide for licensing and regulation of non‑bank residential mortgage loan servicers (each a “Servicer”) by the Pennsylvania Department of Banking and Securities (the “Department”).  Sen. Donald White (R‑41) sponsored Senate […]

SOLICITOR’S REPORT – THE RIGHT-TO-TRY LAW House Bill No. 45 known as the “Right-To-Try Act” has been adopted as Act 33 of 2017 (the “Act”) to allow terminally ill patients in Pennsylvania to try experimental treatments not yet approved by the Federal Food and Drug Administration (“FDA”).  The FDA approval process takes many years. A manufacturer must first

Legislative Report Performance-Based Budgeting in Pennsylvania Pennsylvania Act 48 of 2017, known as the Performance-Based Budgeting and Tax Credit Efficiency Act (the “Act”), gives the Governor and General Assembly performance-based tools to draft future state budgets.  The Act requires Pennsylvania agencies, boards, and commissions under the Governor’s jurisdiction (each, an “Executive Agency”) to undergo performance-based budget

COMMONWEALTH DEBT RATING DOWNGRADE On September 2, 2017, S&P Global Ratings downgraded the credit rating of the Commonwealth of Pennsylvania from AA‑ to A+, thus making our state its fourth lowest rated state in the United States of America.  S&P Global Ratings has applied lower ratings only to Kentucky (A+), New Jersey (A‑) and Illinois (BBB). 

SOLICITOR’S REPORT – THE RIGHT-TO-TRY LAW House Bill No. 45 known as the “Right-To-Try Act” has been adopted as Act 33 of 2017 (the “Act”) to allow terminally ill patients in Pennsylvania to try experimental treatments not yet approved by the Federal Food and Drug Administration (“FDA”).  The FDA approval process takes many years. A manufacturer must first

SOLICITOR’S REPORT NATURAL GAS BURNING VEHICLES IN PENNSYLVANIA Senate Bill No.589, adopted as Act31 of 2017 (the “Act”) amends title 75 of Pennsylvania Statutes, the Pennsylvania Motor Vehicle Code (the “Code”) to increase the maximum weight limit for natural gas powered vehicles by up to 2,000pounds, in furtherance of the federal Fixing America’s Surface Transportation

SOLICITOR REPORT–PENNSYLVANIA PENSION REFORM Senate Bill No.1 (the “Act”) will replace the current defined benefit pension plans under Act120 for state and public school employees (the “Current Plans”) with two hybrid plans and a defined contribution plan (the “Revised Plans”). As a result, Pennsylvania taxpayers should bear less risk for market performance of funds in

LEGISLATIVE REPORT – FUNDING THE PROPOSED GOP BUDGET Following introduction of Governor Wolf’s $32.34 billion state budget proposal, the Pennsylvania House of Representatives adopted along party lines a Republican budget with $31.27 billion in expenditures known as House Bill 218 (the “House Budget”). While the Governor’s budget raises money from a severance tax on natural

On February 7, 2017, Governor Wolf proposed a 2017‑2018 budget for the Commonwealth of Pennsylvania (“Proposed Budget”) based on reduced expenditures and a more modest revenue increase than seen in Governor Wolf’s prior budget proposals.  He would cover a $3 billion deficit with, among other things, (1) a Marcellus Shale natural gas tax, (2) lease of the

The REAL ID Act (the “Act”) was passed by Congress and approved by the President in 2005 to create procedures and rules by which states and territories may lawfully issue drivers’ licenses and other forms of identification that are acceptable for Homeland Security purposes. The Act, called the Emergency Supplemental Appropriations Act for Defense, the