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05/21/2024 03:54 PM
Pennsylvania House of Representatives
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House Co-Sponsorship Memoranda

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House of Representatives
Session of 2023 - 2024 Regular Session


Posted: June 27, 2023 11:33 AM
From: Representative Jason Ortitay
To: All House members
Subject: Optimizing Retail Investor Options
In an effort to strengthen Pennsylvania investors’ options when constructing the best portfolio for their financial needs, I will be introducing legislation that eliminates concentration limits on publicly-registered unlisted REITs.  This legislation will allow our investors to enjoy the same sort of sophisticated investment management and platforms that large institutional investors have enjoyed for many years.
Our neighboring financial-center states do not have these limits; they do not restrict individual investors from making their own investment decisions.  In fact, well over half of all states do not have these concentration limits, underscoring a growing recognition of the efficiency and advantages that non-listed funds are bringing to retail investors.
This bill will help Pennsylvania’s retail investors by providing options and flexibility.  Further, this bill will modernize Pennsylvania’s competitive position for investment compared to other states.

Please join me in creating a more consumer-friendly investment landscape by co-sponsoring this important legislation.

Introduced as HB1860