Senate approves bill to extend prudent person investment standard for the State Treasurer

HARRISBURG – The Senate approved bipartisan legislation, SB712, today which would extend the authority of the State Treasurer to invest funds in the State Treasury in accordance with the prudent person investment standard.  This standard requires the State Treasurer to act with the care, skill, and diligence that a prudent person would use.

Senator David G. Argall (R-29), along with Senator Kristin Phillips-Hill (R-28), Senator Judy Schwank (D-11), Senator Bob Mensch (R-24), and Senator Judy Ward (R-30) were the sponsors of Senate Bill 712.

Contact:

Joshua J. Paul (Argall)
717.787.2637