PRINTER'S NO. 811
No. 713 Session of 1983
INTRODUCED BY ROCKS, FUMO, LLOYD, WILLIAMS, HANKINS AND LYNCH,
MAY 3, 1983
REFERRED TO BANKING AND INSURANCE, MAY 3, 1983
AN ACT
1 Amending the act of May 12, 1943 (P.L.259, No.120), entitled, as
2 reenacted and amended, "An act providing for the payment by
3 the State Treasurer, of the amount of the tax on premiums
4 paid by foreign casualty insurance companies, to the
5 treasurers of the several cities, boroughs, towns, townships,
6 and certain counties, and for the payment thereof into police
7 pension funds, and in certain cases into the Municipal
8 Employes' Retirement System, and for Pension Annuity
9 Contracts, and in certain other cases into the State
10 Employes' Retirement Fund, for certain purposes," requiring
11 treasurers to make payments within 30 days of receipt of
12 State moneys to the pension or retirement fund.
13 The General Assembly of the Commonwealth of Pennsylvania
14 hereby enacts as follows:
15 Section 1. Section 2(d) of the act of May 12, 1943 (P.L.259,
16 No.120), referred to as the Foreign Casualty Insurance Premium
17 Tax Allocation Law, reenacted and amended May 10, 1951 (P.L.250,
18 No.39), is amended to read:
19 Section 2. * * *
20 (d) All moneys paid to the treasurer of any municipality or
21 county shall, within thirty days of receipt, be forthwith paid,
22 or credited, to the pension or retirement fund, or the premium
1 on the pension annuity contract, as the case may be, to provide
2 pension retirement or disability benefits for the policemen of
3 such municipality or county, or the dependents of such
4 policemen. All moneys paid into the State Employes' Retirement
5 Fund shall be credited, in equal proportions, to the State
6 Annuity accounts of the members of the State Police who are
7 contributing members to such fund.
8 * * *
9 Section 2. This act shall take effect immediately.
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