The bill amends Title 74 of the Pennsylvania Consolidated Statutes by adding a new section, 1787, which establishes supplemental performance reporting requirements for metropolitan transportation authorities. It mandates that the Legislative Budget and Finance Committee conduct an annual review of the authority's procedures and audits, producing a public report on its findings. Additionally, the Committee is required to collaborate with the authority to present a biennial report to the Transportation Committees of both the Senate and the House of Representatives, detailing the authority's progress towards fiscal solvency, the usage of state funds, and any other relevant information deemed necessary.

This new section emphasizes transparency and accountability in the financial operations of transportation authorities by ensuring regular oversight and public access to performance reports. The act is set to take effect 60 days after its passage.