Pennsylvania Act 1992-43 — EDUCATION (24 PA.C.S.) - AMEND LIMITING INVESTMENTS

Act text

EDUCATION (24 PA.C.S.) - AMEND LIMITING INVESTMENTS
                  Act of May 28, 1992, P.L. 258, No. 43               Cl. 24
                             Session of 1992
                               No. 1992-43

     HB 315

                                  AN ACT

     Amending Title 24 (Education) of the Pennsylvania Consolidated
        Statutes, placing limitations on investments in companies
        doing business in or with Northern Ireland.

        The General Assembly of the Commonwealth of Pennsylvania
     hereby enacts as follows:

        Section 1.  Title 24 of the Pennsylvania Consolidated
     Statutes is amended by adding a section to read:
      § 8527.  Northern Ireland-related investments.
        (a)  General rule.--Notwithstanding any other provision of
     law, on and after the effective date of this section, any moneys
     or assets of the fund which shall remain or be invested in the
     stocks, securities or other obligations of any institution or
     company doing business in or with Northern Ireland or with
     agencies or instrumentalities thereof shall be invested subject
     to the provisions of subsection (c).
        (b)  Annual review.--On or before January 1 of each year, the
     board shall determine the existence of affirmative action taken
     by institutions or companies doing business in Northern Ireland
     to eliminate ethnic or religious discrimination based on actions
     taken for:
            (1)  Increasing the representation of individuals from
        underrepresented religious groups in the work force,
        including managerial, supervisory, administrative, clerical
        and technical jobs.
            (2)  Providing adequate security for the protection of
        minority employees, both at the workplace and while traveling
        to and from work.
            (3)  The banning of provocative religious or political
        emblems from the workplace.
            (4)  Publicly advertising all job openings and making
        special recruitment efforts to attract applicants from
        underrepresented religious groups.
            (5)  Providing that layoff, recall and termination
        procedures should not in practice favor particular religious
        groupings.
            (6)  The abolition of job reservations, apprenticeship
        restrictions and differential employment criteria which
        discriminate on the basis of religion or ethnic origin.
            (7)  The development of training programs that will
        prepare substantial numbers of current minority employees for
        skilled jobs, including the expansion of existing programs
        and the creation of new programs to train, upgrade and
        improve the skills of minority employees.
            (8)  The establishment of procedures to assess, identify
        and actively recruit minority employees with potential for
        further advancement.
            (9)  The appointment of senior management staff members
        to oversee affirmative action efforts and the setting up of
        timetables to carry out affirmative action principles.
        (c)  Investments.--Consistent with sound investment policy,
     the board shall invest the assets of the fund in such a manner
     that the investments in institutions doing business in or with
     Northern Ireland shall reflect the advances made by the
     institutions in eliminating discrimination as established
     pursuant to subsection (b).
        Section 2.  This act shall take effect immediately.

     APPROVED--The 28th day of May, A. D. 1992.

     ROBERT P. CASEY