PRIOR PRINTER'S NO. 484
PRINTER'S NO. 2198
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
520
Session of
2021
INTRODUCED BY R. MACKENZIE, HENNESSEY, JONES, JOZWIAK, MILLARD,
ROTHMAN AND RYAN, FEBRUARY 11, 2021
AS AMENDED ON SECOND CONSIDERATION, HOUSE OF REPRESENTATIVES,
SEPTEMBER 28, 2021
AN ACT
Amending the act of October 16, 1996 (P.L.712, No.127), entitled
"An act exempting the issuance by a qualified charity of a
qualified charitable gift annuity from regulation under
insurance laws," further providing for definitions AND FOR
EXEMPTION FROM REGULATION.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Paragraph (2)(iv) of the definition of "qualified
charitable gift annuity" and paragraph (3) of the definition of
"qualified charity" in section 2 of the act of October 16, 1996
(P.L.712, No.127), known as the Charitable Gift Annuity
Exemption Act, are amended and the section is amended by adding
a definition to read:
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:
"De-risking annuity contract." An annuity purchased from a
commercial annuity company AN INSURANCE COMPANY LICENSED,
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