(Harrisburg) -- A state takover of the capital city's finances is one step closer to reality. Governor Corbett early Thursday signed Senate Bill 1151 into law. It authorizes the governor to declare a fiscal emergency and appoint a receiver to develop and implement a fiscal recovery plan for distressed so-called "third-class" cities like Harrisburg that fail to put recovery measures in motion themselves. Harrisburg's leaders have struggled for months to agree on a plan to lead the city out of financial turmoil. "I remain a strong proponent for municipal governments tackling their own problems and coming together to develop a fiscal recovery plan when necessary," Corbett said in a news release. "But when that fails to happen, the state has to take action to ensure public safety." The takeover bill passed the House Wednesday after the Senate approved it earlier in the week. After a fiscal emergency is declared, the law gives city leaders one final chance to adopt a recovery plan. If they can agree on a plan in 30 days that satisfies the secretary of the Department of Community and Economic Development, a state takeover can be averted.