HB 2499 — An Act amending the act of June 2, 1915 (P.L.736, No.338), known as the Workers' Compensation Act, in State Workers' Insurance Fund, further providing for investments by board.

PRINTER'S NO.    3384

                     THE GENERAL ASSEMBLY OF PENNSYLVANIA



                         HOUSE BILL
                         No. 2499
                                               Session of
                                                 2026

     INTRODUCED BY KOSIEROWSKI, ISAACSON, WAXMAN, SANCHEZ, GUZMAN AND
        D. WILLIAMS, MAY 8, 2026

     REFERRED TO COMMITTEE ON LABOR AND INDUSTRY, MAY 8, 2026


                                    AN ACT
 1   Amending the act of June 2, 1915 (P.L.736, No.338), entitled "An
 2      act defining the liability of an employer to pay damages for
 3      injuries received by an employe in the course of employment;
 4      establishing an elective schedule of compensation; providing
 5      procedure for the determination of liability and compensation
 6      thereunder; and prescribing penalties," in State Workers'
 7      Insurance Fund, further providing for investments by board.
 8      The General Assembly of the Commonwealth of Pennsylvania
 9   hereby enacts as follows:
10      Section 1.    Section 1512 of the act of June 2, 1915 (P.L.736,
11   No.338), known as the Workers' Compensation Act, is amended to
12   read:
13      Section 1512.    The board may invest any of the surplus or
14   reserve belonging to the fund in such securities and investments
15   as are authorized for investment by savings banks[.] and,
16   notwithstanding section 1731-A of the act of April 9, 1929
17   (P.L.343, No.176), known as The Fiscal Code, section 504 of the
18   act of November 30, 1965 (P.L.847, No.356), known as the Banking
19   Code of 1965, sections 922 and 922.1 of the former act of
20   December 14, 1967 (P.L.746, No.345), known as the Savings
 1   Association Code of 1967, and any other provision of law, may
 2   invest up to twenty per centum of any of the fund's assets in
 3   equity investments. All such securities or evidences of
 4   indebtedness shall be placed in the hands of the State Treasurer
 5   who shall be the custodian thereof. [He] The State Treasurer
 6   shall collect the principal and interest thereof when due and
 7   pay the same into the fund. The State Treasurer shall pay for
 8   all such securities or evidences of indebtedness by check issued
 9   upon requisition of the secretary. All such payments shall be
10   made only upon delivery of such securities or evidences of
11   indebtedness to the State Treasurer. To all requisitions calling
12   upon the State Treasurer to pay for any securities or evidences
13   of indebtedness there shall be attached a certified copy of the
14   resolution of the board authorizing the investment. The board
15   may, upon like resolution, sell any of such securities.
16      Section 2.   This act shall take effect in 60 days.




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