Pennsylvania Governor Tom Corbett has signed legislation that will allow a state takeover of Harrisburg’s financial affairs. The capital of Pennsylvania is drowning in debt from a failed retrofit of the city’s incinerator. Harrisburg is over $300 million in debt.
Harrisburg was accepted into the Act 47 Program for financially distressed municipalities but City Council failed to authorize the recommendations made by the Act 47 team. Neither was the city able to come up their own plan to emerge from certain bankruptcy.
Disgusted with the inability of city leadership to move forward, Pennsylvania State Senator Jeff Piccola introduced legistion to allow the Commonwealth of Pennsylvania to take control of Harrisburg’s finances. This legislation was signed by the governor this morning.