Pennsylvania 2019-2020 Regular Session Status: In Committee 7 D cosponsors

HB 696 — An Act establishing the Senior Citizen Retirement Investment Protection Commission; and providing for its duties.

Last action — Laid on the table

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2019-2020 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

36 added · 99 removed

Plain-language change summary

The recent changes to Bill HB 696 establish the Senior Citizen Retirement Investment Protection Commission, which will assist seniors in managing their retirement investments and safeguard them against fraud. The commission's membership has been clarified to include representatives from key state departments, ensuring a comprehensive approach to protecting senior citizens. By formally recognizing the commission and outlining its duties, these amendments aim to provide better support for a vulnerable population in financial matters, enhancing their financial security and well-being.

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PRIOR PRINTER'S NO.
PRINTER'S NO.
722 PRINTER'S NO.
722 THE GENERAL ASSEMBLY OF PENNSYLVANIA HOUSE BILL Session of No.
1850 THE GENERAL ASSEMBLY OF PENNSYLVANIA HOUSE BILL Session of No.
696 2019 INTRODUCED BY McCARTER, LONGIETTI, SCHLOSSBERG, MURT, SAMUELSON, MILLARD, BOBACK, NEILSON, HILL-EVANS, DEASY, WARREN, DeLUCA, PASHINSKI AND SIMS, MARCH 5, 2019 REFERRED TO COMMITTEE ON AGING AND OLDER ADULT SERVICES, MARCH 5, 2019 AN ACT Establishing the Senior Citizen Retirement Investment Protection Commission.
696 2019 INTRODUCED BY McCARTER, LONGIETTI, SCHLOSSBERG, MURT, SAMUELSON, MILLARD, BOBACK, NEILSON, HILL-EVANS, DEASY, WARREN, DeLUCA, PASHINSKI AND SIMS, MARCH 5, 2019 AS REPORTED FROM COMMITTEE ON AGING AND OLDER ADULT SERVICES, HOUSE OF REPRESENTATIVES, AS AMENDED, MAY 15, 2019 AN ACT Establishing the Senior Citizen Retirement Investment Protection Commission.;
The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows:
AND PROVIDING FOR ITS DUTIES.
<-- The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows:
"SENIOR CITIZEN." A RESIDENT OF THIS COMMONWEALTH WHO IS 60 <-- YEARS OF AGE OR OLDER.
(b) Duties.--The commission shall meet twice annually to <-- develop public policies, procedures and educational tools to help senior citizens in this Commonwealth manage their personal retirement investments as well as protect them from unscrupulous practitioners who may prey on senior citizens and their retirement investments.
(b) Duties.--The commission shall meet twice annually to develop public policies, procedures and educational tools to help senior citizens in this Commonwealth manage their personal retirement investments as well as protect them from unscrupulous practitioners who may prey on senior citizens and their retirement investments.
(B) MEMBERS.--The commission shall be comprised of all of <-- the following members:
The commission shall be comprised of all of the following members:
TREASURY DEPARTMENT.
(iii) Department of Banking and Securities.
<-- (iii) Department of Banking and Securities.
<-- (i) The President of the Senate.
(i) The President of the Senate.
(2) A MEMBER OF THE SENATE APPOINTED BY EACH OF THE <-- FOLLOWING:
(I) THE PRESIDENT PRO TEMPORE OF THE SENATE.
20190HB0696PN1850 - 2 - (II) THE MINORITY LEADER OF THE SENATE.
(3) A MEMBER OF THE HOUSE OF REPRESENTATIVES APPOINTED BY EACH OF THE FOLLOWING:
(I) THE SPEAKER OF THE HOUSE OF REPRESENTATIVES.
(II) THE MINORITY LEADER OF THE HOUSE OF REPRESENTATIVES.
(4) A REPRESENTATIVE OF THE FOLLOWING, APPOINTED BY THE GOVERNOR:
(I) AARP.
(II) TEMPLE UNIVERSITY INSTITUTE ON PROTECTIVE SERVICES.
(C) TERMS.--A MEMBER OF THE COMMISSION SHALL SERVE AT THE PLEASURE OF THE MEMBER'S APPOINTING AUTHORITY.
IF A MEMBER CEASES TO REPRESENT THE INTERESTS OF THE MEMBERSHIP CLASS FOR WHICH THE MEMBER WAS APPOINTED, THE APPOINTING AUTHORITY SHALL TERMINATE THE MEMBER'S APPOINTMENT TO THE COMMISSION.
(D) VACANCIES.--A VACANCY ON THE COMMISSION SHALL BE FILLED BY THE ORIGINAL APPOINTING AUTHORITY.
(E) COMPENSATION.--MEMBERS OF THE COMMISSION SHALL SERVE WITHOUT COMPENSATION BUT MEMBERS APPOINTED BY THE GOVERNOR MAY BE REIMBURSED FOR NECESSARY AND REASONABLE TRAVEL AND OTHER EXPENSES INCURRED DURING THE PERFORMANCE OF THEIR DUTIES.
(F) MEETINGS.--THE COMMISSION SHALL MEET AT LEAST ONCE EVERY OTHER QUARTER DURING A CALENDAR YEAR TO DISCUSS RETIREMENT INVESTMENT ISSUES AND FRAUD FACING SENIOR CITIZENS.
(G) BYLAWS.--THE COMMISSION SHALL ESTABLISH BYLAWS THAT ADDRESS, AT A MINIMUM, DESIGNATING A CHAIRPERSON AND SCHEDULING MEETINGS.
SECTION 4.
COMMISSION DUTIES.
THE COMMISSION SHALL:
20190HB0696PN1850 - 3 - (1) EXAMINE ISSUES FACING COMMONWEALTH RESIDENTS, PARTICULARLY SENIOR CITIZENS, RELATIVE TO RETIREMENT AND OTHER INVESTMENTS, INCLUDING SCAMS AND FRAUD.
(2) DEVELOP PUBLIC POLICIES, PROCEDURES AND EDUCATIONAL TOOLS TO HELP SENIOR CITIZENS UNDERSTAND INVESTMENT TERMINOLOGY AND THE TYPES OF RETIREMENT INVESTMENTS AVAILABLE TO THEM.
(3) DEVELOP TOOLS TO HELP SENIOR CITIZENS PROTECT THEMSELVES FROM SCAMS AND UNSCRUPULOUS PRACTITIONERS WHO MAY PREY ON THEM AND THEIR RETIREMENT INVESTMENTS.
(4) MAKE INFORMATION UNDER PARAGRAPHS (1), (2) AND (3) AVAILABLE TO THE PUBLIC.
SECTION 5.
REPORTS.
THE COMMISSION SHALL ISSUE A REPORT TO THE GENERAL ASSEMBLY WITHIN ONE YEAR OF ITS INITIAL FORMATION AND ANNUALLY THEREAFTER.
THE REPORT SHALL INCLUDE, AT A MINIMUM, THE FOLLOWING:
(1) THE RESULTS OF THE EXAMINATION UNDER SECTION 4(1).
(2) PUBLIC POLICIES, PROCEDURES AND EDUCATIONAL TOOLS DEVELOPED UNDER SECTION 4 AND HOW THIS INFORMATION IS DISSEMINATED TO THE PUBLIC.
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(3) AN EVALUATION, TO BE COMPLETED EVERY THREE YEARS, OF THE CONTINUING EFFECTIVENESS OF THE COMMISSION, INCLUDING ANY RECOMMENDATIONS FOR TERMINATION OF THE COMMISSION.
(4) ANY SUGGESTED LEGISLATION CONCERNING PROTECTION OF SENIOR CITIZENS' RETIREMENT INVESTMENTS.
20190HB0696PN1850 - 4 -
20190HB0696PN0722 - 2 -
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Amendments

1 amendment

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Action History

  1. Laid on the table

  2. Removed from table

  3. Laid on the table

  4. First consideration

  5. PN 1850 Reported as amended

  6. PN 0722 Referred to AGING AND OLDER ADULT SERVICES

Sponsors

Sponsorship breakdown

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1 sponsors · 14 co-sponsors · 238 not signed on

Sponsors (1)

  • Mccarter

Co-sponsors (14)

Not signed on (238)

238 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance veterans
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Frequently asked questions

Who sponsors HB 696?
HB 696 is sponsored by Mccarter, Longietti, Michael H. Schlossberg (Democratic), Murt, Steve Samuelson (Democratic), Millard, Boback, Ed Neilson (Democratic), Carol Hill-Evans (Democratic), Daniel J. Deasy (Democratic), Perry S. Warren (Democratic), Deluca, Eddie Day Pashinski (Democratic), Sims, and Donatucci.
What is the current status of HB 696?
This bill died with 2019-2020 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 696?
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