Financially Distressed Municipalities Act
- Financially Distressed Municipalities Act
The Financially Distressed Municipalities Act "(Act of 1987, P.L. 246, No. 47)", also known as Act 47, empowers the Pennsylvania Department of Community and Economic Development to declare certain municipalities as financially distressed. It provides for the restructuring of debt of financially distressed municipalities, limits the ability of financially distressed municipalities to obtain government funding; authorizes municipalities to participate in Federal debt adjustment actions and bankruptcy actions under certain circumstances; and provides for consolidation or merger of contiguous municipalities to relieve financial distress.
History
Most provisions of Act 47 initially remained suspended until the termination of the Pennsylvania Intergovernmental Cooperation Act (Section 708 of Act 1991, June 5, P.L. 9, No 6).
The cities of Erie and Altoona, among others, have narrowly avoided Act 47 designation. Their mayors seek legislative changes to the binding arbitration rules of Act 111, as well as a reduction in the designation of tax-exempt properties, to improve their financial health. [ [http://www.goerie.com/apps/pbcs.dll/article?AID=2007711160387 Strength In Many Voices: Sinnott To Mayors: Let's Try to Change Distressed-City Laws, Erie Times-News, November 16, 2007] ]
Distressed municipalities
The following municipalities were designated as part of the Municipalities Financial Recovery Program as of the date indicated. Any dates of imposition and lifting of sanctions, and the rescinding of the initial designation are also noted.
* [http://www.newpa.com/download.aspx?id=828 List of Act 47 Municipalities]
References
See also
* [http://www.newpa.com/download.aspx?id=278 Municipalities Financial Recovery Act, Third Edition, January 2001]
* [http://www.city.pittsburgh.pa.us/council/assets/04_ACT47Plan-Je11.pdf Pittsburgh Act 47 Plan]
Wikimedia Foundation.
2010.
Look at other dictionaries:
Pennsylvania Department of Community and Economic Development — Agency overview Jurisdiction … Wikipedia
Chapter 9, Title 11, United States Code — Bankruptcy in the United States Bankruptcy in the United States Authority · History U.S. Trustee Court … Wikipedia
Clairton, Pennsylvania — Nickname(s): City of Prayer Location in Allegheny County, Pennsylvania … Wikipedia
Contiguity — A contiguity is a continuous mass, or a series of things in contact or proximity. In a different meaning, contiguity is the state of being contiguous.[1] The concept was first set out in the Law of Contiguity, one of Aristotle s Laws of… … Wikipedia
education — /ej oo kay sheuhn/, n. 1. the act or process of imparting or acquiring general knowledge, developing the powers of reasoning and judgment, and generally of preparing oneself or others intellectually for mature life. 2. the act or process of… … Universalium
china — /chuy neuh/, n. 1. a translucent ceramic material, biscuit fired at a high temperature, its glaze fired at a low temperature. 2. any porcelain ware. 3. plates, cups, saucers, etc., collectively. 4. figurines made of porcelain or ceramic material … Universalium
China — /chuy neuh/, n. 1. People s Republic of, a country in E Asia. 1,221,591,778; 3,691,502 sq. mi. (9,560,990 sq. km). Cap.: Beijing. 2. Republic of. Also called Nationalist China. a republic consisting mainly of the island of Taiwan off the SE coast … Universalium
Business and Industry Review — ▪ 1999 Introduction Overview Annual Average Rates of Growth of Manufacturing Output, 1980 97, Table Pattern of Output, 1994 97, Table Index Numbers of Production, Employment, and Productivity in Manufacturing Industries, Table (For Annual… … Universalium
Social Protection — ▪ 2006 Introduction With medical costs skyrocketing and government programs scaled back, citizens bore more responsibility for their health care costs; irregular migration, human trafficking, and migrant smuggling posed challenges for… … Universalium
cañada — /keuhn yah deuh, yad euh/, n. Chiefly Western U.S. 1. a dry riverbed. 2. a small, deep canyon. [1840 50; < Sp, equiv. to cañ(a) CANE + ada n. suffix] * * * Canada Introduction Canada Background: A land of vast distances and rich natural resources … Universalium
