An Act amending the act of May 26, 1947 (P.L.318, No.140), known as the CPA Law, further providing for requirements for issuance of certificate.

SB 1240 updates Pennsylvania's Certified Public Accountant Law to clarify the educational requirements individuals must meet before taking the CPA examination. Specifically, the bill mandates that candidates hold either a bachelor's or master's degree from an accredited institution and complete a set number of semester credits in accounting, auditing, tax, and related business subjects. These course requirements can be fulfilled through undergraduate or graduate work, provided the content is approved by the State Board of Accountancy. The legislation directly affects aspiring accountants seeking licensure in Pennsylvania and takes effect immediately upon passage.