PRINTER'S NO. 142
No. 131 Session of 1989
INTRODUCED BY RICHARDSON, MANDERINO, LINTON, KUKOVICH, EVANS,
FEE, ACOSTA, CARN, HARPER, HUGHES, OLIVER, PRESTON, ROBINSON,
ROEBUCK, BISHOP, WILLIAMS, THOMAS, McHALE, JAMES, PISTELLA,
TIGUE, BLAUM, KOSINSKI, CAWLEY, JOSEPHS, RITTER, TRICH,
LEVDANSKY, COLAIZZO, FREEMAN AND PRESSMANN, JANUARY 25, 1989
REFERRED TO COMMITTEE ON FINANCE, JANUARY 25, 1989
AN ACT
1 Providing priorities for the reinvestment of public moneys
2 currently invested in the Republic of South Africa and
3 Namibia; and making repeals.
4 The General Assembly of the Commonwealth of Pennsylvania
5 hereby enacts as follows:
6 Section 1. Investment priorities.
7 The State Treasurer and any other State or local official
8 authorized or required by law to invest public moneys shall make
9 reinvestment of all public moneys currently invested in the
10 Republic of South Africa and Namibia in the following order of
11 priority:
12 (1) Business and financial institutions located
13 substantially within this Commonwealth.
14 (2) Business and financial institutions located
15 substantially in contiguous states.
16 (3) Other businesses and financial institutions located
17 within the United States.
1 Section 2. Repeals.
2 All acts and parts of acts are repealed insofar as they are
3 inconsistent with this act.
4 Section 3. Effective date.
5 This act shall take effect in 60 days.
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