The proposed bill amends Title 72 of the Pennsylvania Consolidated Statutes by adding a new chapter titled "UNSPENT APPROPRIATIONS." This chapter introduces definitions for key terms such as "Commonwealth agency," "Independent agency," "State-affiliated entity," and "State-related institution." It establishes a framework for the reporting of unspent appropriations by Commonwealth agencies, requiring them to provide detailed financial information to the Auditor General by November 15 each year. The Auditor General is then tasked with compiling and reporting this information to the General Assembly by December 30, including a breakdown of unspent funds by agency and recommendations for addressing the accumulation of unspent money.

The bill aims to enhance transparency and accountability in the management of state funds by ensuring that unspent appropriations are systematically reported and analyzed. It emphasizes the need for Commonwealth agencies to provide comprehensive data on their financial balances, thereby facilitating better oversight and potentially reducing waste and inefficiency in state spending. The act is set to take effect immediately for the reporting requirements, while the remainder of the provisions will take effect in July of the year following its enactment.