Pennsylvania HB 2499: An Act amending the act of June 2, 1915 (P.L.736, No.338), known as the Workers' Compensation Act, in State Workers' Insurance Fund, further providing for investments by board.

Bill Text

PRIOR PRINTER'S NO. 3384 PRINTER'S NO. 3559
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 2499
Session of
2026
INTRODUCED BY KOSIEROWSKI, ISAACSON, WAXMAN, SANCHEZ, GUZMAN,
D. WILLIAMS, INGLIS AND NEILSON, MAY 8, 2026
AS REPORTED FROM COMMITTEE ON LABOR AND INDUSTRY, HOUSE OF
REPRESENTATIVES, AS AMENDED, JUNE 9, 2026
AN ACT
Amending the act of June 2, 1915 (P.L.736, No.338), entitled "An
act defining the liability of an employer to pay damages for
injuries received by an employe in the course of employment;
establishing an elective schedule of compensation; providing
procedure for the determination of liability and compensation
thereunder; and prescribing penalties," in State Workers'
Insurance Fund, further providing for investments by board.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 1512 of the act of June 2, 1915 (P.L.736,
No.338), known as the Workers' Compensation Act, is amended to
read:
Section 1512. The board may invest any of the surplus or
reserve belonging to the fund in such securities and investments
as are authorized for investment by savings banks[.] and,
notwithstanding section 1731-A of the act of April 9, 1929
(P.L.343, No.176), known as The Fiscal Code, section 504 of the
act of November 30, 1965 (P.L.847, No.356), known as the Banking
Code of 1965, sections 922 and 922.1 of the former act of
December 14, 1967 (P.L.746, No.345), known as the Savings
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20

Association Code of 1967, and any other provision of law, may
invest up to twenty per centum of any of the fund's assets in
equity investments. INVESTMENTS SHALL BE MADE SUBJECT TO THE
PRUDENT INVESTOR RULE AS PROVIDED FOR UNDER 20 PA.C.S. § 7203
(RELATING TO PRUDENT INVESTOR RULE). All such securities or
evidences of indebtedness shall be placed in the hands of the
State Treasurer who shall be the custodian thereof. [He] The
State Treasurer shall collect the principal and interest thereof
when due and pay the same into the fund. The State Treasurer
shall pay for all such securities or evidences of indebtedness
by check issued upon requisition of the secretary. All such
payments shall be made only upon delivery of such securities or
evidences of indebtedness to the State Treasurer. To all
requisitions calling upon the State Treasurer to pay for any
securities or evidences of indebtedness there shall be attached
a certified copy of the resolution of the board authorizing the
investment. The board may, upon like resolution, sell any of
such securities.
Section 2. This act shall take effect in 60 days.
20260HB2499PN3559 - 2 -
<--
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19