PRINTER'S NO. 722
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
696
Session of
2019
INTRODUCED BY McCARTER, LONGIETTI, SCHLOSSBERG, MURT, SAMUELSON,
MILLARD, BOBACK, NEILSON, HILL-EVANS, DEASY, WARREN, DeLUCA,
PASHINSKI AND SIMS, MARCH 5, 2019
REFERRED TO COMMITTEE ON AGING AND OLDER ADULT SERVICES,
MARCH 5, 2019
AN ACT
Establishing the Senior Citizen Retirement Investment Protection
Commission.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Short title.
This act shall be known and may be cited as the Senior
Citizen Retirement Investment Protection Act.
Section 2. Definitions.
The following words and phrases when used in this act shall
have the meanings given to them in this section unless the
context clearly indicates otherwise:
"Commission." The Senior Citizen Retirement Investment
Protection Commission established under section 3.
Section 3. Senior Citizen Retirement Investment Protection
Commission.
(a) Establishment.--The Senior Citizen Retirement Investment
Protection Commission is established.
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(b) Duties.--The commission shall meet twice annually to
develop public policies, procedures and educational tools to
help senior citizens in this Commonwealth manage their personal
retirement investments as well as protect them from unscrupulous
practitioners who may prey on senior citizens and their
retirement investments.
Section 4. Members of commission.
The commission shall be comprised of all of the following
members:
(1) The secretaries, or their designated
representatives, of the following:
(i) Department of Aging.
(ii) Department of Revenue.
(iii) Department of Banking and Securities.
(iv) Attorney General.
(2) A representative of the following:
(i) The President of the Senate.
(ii) The Speaker of the House of Representatives.
(iii) The Majority Leader from each caucus.
(iv) The Minority Leader from each caucus.
Section 5. Reporting.
The commission shall issue a report to the General Assembly
within six months of the formation of the commission. This
report shall include potential actions that can be taken to
carry out the duties of the commission under section 3(b).
Section 6. Effective date.
This act shall take effect in 60 days.
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