An Act amending Title 15 (Corporations and Unincorporated Associations) of the Pennsylvania Consolidated Statutes, in general provisions relating to partnerships and limited liability companies, providing for duties of nonprofit corporations in public-private partnerships with the Commonwealth.

HB 1221 requires nonprofit organizations entering public-private partnerships with the Pennsylvania state government (via executive order) to meet new transparency standards. Specifically, these nonprofits must comply with Pennsylvania's Right-to-Know Law, submit annual financial reports to the Governor and General Assembly using standard government accounting practices, publicly disclose all purchases involving state officials within 10 business days, and adhere to the Sarbanes-Oxley Act. The bill directly affects nonprofit entities partnering with the Commonwealth, imposing mandatory disclosure and reporting obligations. It takes effect 60 days after enactment, aiming to increase accountability in state-funded nonprofit partnerships.