Pennsylvania

Growing disconnects between state and local governments across the U.S. are especially impacting municipalities in the neighboring Northeast states of New Jersey and Pennsylvania, panelists emphasized at the The Bond Buyer’s Mid-Atlantic Municipal Market conference Tuesday.

Navigating the regulatory minefield is one of the biggest challenges facing the Mid-Atlantic muni market, officials from underwriting firms said at a Bond Buyer conference in Philadelphia.

Pittsburgh is poised to leave state fiscal oversight by 2019, said Mayor Bill Peduto.

Pennsylvania Treasurer Timothy Reese expects to huddle with Wells Fargo representatives soon in light of the bank's fake-accounts scandal.

Pennsylvania Gov. Tom Wolf, while dodging specifics, said he and legislative leaders are working on a local pension overhaul package.

Pennsylvania's local pension funding problem requires a comprehensive state-level fix, said state Auditor General Eugene DePasquale.

The Philadelphia Parking Authority is facing a probe from Pennsylvania’s auditor general following multiple sexual harassment allegations.

The Internal Revenue Service appears to have reversed itself in recently closing an audit with no change to the tax-exempt status of some general obligation bonds issued by a Pennsylvania school district issued in 2005 and advance refunded in 2013.

New Jersey Gov. Chris Christie's Sept. 2 decision to revoke a nearly 40-year tax reciprocity agreement with neighboring Pennsylvania does not pose an immediate credit impact for either state, according to S&P Global Ratings.

The Pennsylvania Turnpike Commission is headed toward a fiscal pileup that could imperil the state’s entire transportation system, said state Auditor General Eugene DePasquale.

Philadelphia’s outlook was revised to negative from stable by Moody’s Investors Service, which cited concerns about weakened reserves.

In an effort to pull in more revenue for New Jersey, Gov. Chris Christie revoked a nearly 40-year tax agreement with neighboring Pennsylvania.

Nearly 10,000 tax-abated properties will return to Philadelphia's tax rolls over the next five years adding an estimated $55 million in new revenue, City Controller Alan Butkovitz said.

Pennsylvania Auditor General Eugene DePasquale has begun an audit of Pittsburgh's public pension plan and repeated his call for statewide overhaul.

The National Development Council closed its $32 million parking system transaction with Scranton, Pa.

The $2.5 billion line of credit Pennsylvania’s Treasury extended to the state to support its general fund is a credit negative, according to Moody’s.

Moody's upgrades Pennsylvania's school district pre-default enhancement program to A2 from Baa1, citing a new state law.

A Pennsylvania school district said it expects to receive a proposed adverse determination letter from the Internal Revenue Service stating general obligation bonds it issued in 2005 and advance refunded in 2013 are taxable.

Federal corruption charges against a former state treasurer did not motivate a probe of Pennsylvania's two public pension systems, said state Auditor Eugene DePasquale.

Pennsylvania Auditor Eugene DePasquale plans to investigate the state's two largest pension systems, saying he wants to ensure that both systems are operating as efficiently and transparently as possible.