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Pennsylvania House of Representatives
06/02/2024 11:10 PM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?SPick=20230&chamber=H&cosponId=42001
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House Co-Sponsorship Memoranda

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House of Representatives
Session of 2023 - 2024 Regular Session

MEMORANDUM

Posted: January 25, 2024 09:27 AM
From: Representative Aaron D. Kaufer
To: All House members
Subject: Extending the Prudent Person Investment Standard for the State Treasurer
 
In the near future, I plan to reintroduce legislation to extend the authority of the State Treasurer to invest monies in the State Treasury according to the prudent investor standard.

Under this standard, the State Treasurer is required to act as a fiduciary with the care, skill, prudence, and diligence that a prudent person would use.

This investment standard was first applied to the State Treasurer in 2008, and its expiration has been extended periodically several times since. It is currently scheduled to expire on December 31, 2024, and this legislation would extend that date to December 31, 2028.

Please join me in cosponsoring this important legislation.
 


Introduced as HB2003