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Senate Co-Sponsorship Memoranda
Senate of Pennsylvania
Session of 2013 - 2014
Regular Session
MEMORANDUM
| Posted: | June 11, 2013 04:16 PM |
|---|---|
| From: | Senator Jay Costa |
| To: | All Senate members |
| Subject: | Second Class County Airport Authority Investments |
| Please join me in sponsoring the following legislation. Recently, I was contacted by the Allegheny County Airport Authority requesting that they be given increased investment opportunities for the Authority. In response to this request, I will be introducing legislation to authorize the Allegheny County Airport Authority to invest in “Commercial Paper.” Current investment options available for the Allegheny County Airport Authority have not been updated for many years. As such, the Airport Authority does not have the ability to invest in this safe and proven investment option. The bill will amend Title 53 of the Pennsylvania Consolidated Statutes to provide this investment option to the Allegheny County Airport Authority alone. However, I would add that in the past, the General Assembly has extended this investment option to include the Philadelphia Authority for Industrial Development and the Philadelphia Parking Authority. I hope you will join me in sponsoring this important initiative and if you need further information, please feel free to contact my office. Thank you for your attention to this matter. |
Introduced as SB1051