Committee renews State Workers Insurance Board investment authority for four years
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Summary
House Bill 1990 would extend the State Workers Insurance Board’s investment authority for an additional four years; the committee reported the bill favorably with no recorded opposition in the excerpt.
The House Labor & Industry Committee favorably reported House Bill 1990, which would amend the fiscal code to extend the State Workers Insurance Board’s investment authority for an additional four years.
Committee staff member Ryan told the committee the board manages the State Workers Insurance Fund to provide a workers’ compensation option for Pennsylvania businesses and that the authority had last been extended in 2021 until Dec. 31, 2025.
Minority Chair Grove and other members indicated no opposition in the committee’s discussion. Committee leadership said the extension is typically handled in the fiscal code during the budget process but supported the bill so the board can continue investment activities and avoid moving assets into constrained accounts under current law.
The committee announced the bill would be favorably reported as committed. The transcript excerpt did not include a roll-call tally for this item.