Post Session Report: June 5, 2012

SB 1310, PN 2234 (Gordner) – The legislation amends the Unemployment Compensation Law by permitting the Pennsylvania Economic Development Financing Authority to issue bonds if the issuance to repay federal advances, including interest, would result in a savings to the employers of the Commonwealth.  In addition, an Unemployment Compensation Amnesty Program will be authorized to partially waive unpaid interest debt in return for outstanding obligations being paid in full, and makes certain changes to the contribution structure, eligibility, claims, state adjustment factor, interest factor, and solvency trigger.  The Senate concurred in House amendments to the bill by a vote of 29-19.

HB 10, PN 1957 (Turzai) – The bill amends the Second Class County Port Authority Act by removing all provisions in the Act that provide the Port Authority of Allegheny County exclusive control over who provides transportation services within a County of the Second Class.  A vote of 21-21 was recorded.

SB 1321, PN 2237 (Earll) – Amends Act 47 (Municipal Financial Recovery Act) providing for the restructuring of debt of financially distressed municipalities.  A vote of 47-1 was recorded.

SB 1464, PN 2238 (D. White) – Amends Article XIV of  the Insurance Holding Companies Law, 40 P.S. §§ 991.1401 – 991.1413, providing for definitions, for acquisition of control of or merger or consolidation with domestic insurer, for acquisitions involving insurers not otherwise covered, for registration of insurers, for standards and management of an insurer within a holding company system and for examination; providing for supervisory colleges and for group-wide supervision for internationally active insurance groups; further providing for confidential treatment, for rules and regulations, for injunctions and certain prohibitions and for sanctions.  A vote of 48-0 was recorded.