PRINTER'S NO. 690
No. 625 Session of 2007
INTRODUCED BY HICKERNELL, BELFANTI, BOYD, CALTAGIRONE, CAPPELLI,
CLYMER, DENLINGER, DeWEESE, GEIST, GIBBONS, HERSHEY,
HORNAMAN, KILLION, McILHATTAN, MUSTIO, MYERS, NICKOL,
PETRONE, ROSS, SAYLOR, STERN, THOMAS AND TRUE, MARCH 6, 2007
REFERRED TO COMMITTEE ON LOCAL GOVERNMENT, MARCH 6, 2007
AN ACT
1 Amending the act of August 9, 1955 (P.L.323, No.130), entitled,
2 as amended, "An act relating to counties of the first, third,
3 fourth, fifth, sixth, seventh and eighth classes; amending,
4 revising, consolidating and changing the laws relating
5 thereto; relating to imposition of excise taxes by counties,
6 including authorizing imposition of an excise tax on the
7 rental of motor vehicles by counties of the first class; and
8 providing for regional renaissance initiatives," further
9 providing for investment of funds.
10 The General Assembly of the Commonwealth of Pennsylvania
11 hereby enacts as follows:
12 Section 1. Section 1706(c)(8) of the act of August 9, 1955
13 (P.L.323, No.130), known as The County Code, amended December
14 13, 1982 (P.L.1131, No.258), is amended to read:
15 Section 1706. Investment of Funds.--* * *
16 (c) Authorized types of investments for such moneys shall
17 be:
18 * * *
19 (8) Any investment authorized by 20 Pa.C.S. Ch. 73 (relating
20 to [fiduciaries] municipalities investments) shall be an
1 authorized investment for any pension or retirement fund[.] or
2 postretirement benefit, including, but not limited to, health
3 insurance, provided that the investment of money designated for
4 any postretirement benefit shall be accounted for separately in
5 all respects and that the earnings from the investment are
6 computed, recorded and credited to the accounts from which the
7 investment was purchased.
8 * * *
9 Section 2. This act shall take effect in 60 days.
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