News Releases - July 2024

Piggy Bank in the Rain

Treasurer Stacy Garrity Commends General Assembly and Governor for $737 Million Rainy Day Fund Increase

After the deposit is made, the state’s reserve fund will be nearly $7 billion


Harrisburg, PA - Pennsylvania Treasurer Stacy Garrity today praised the General Assembly and the Governor for adding about $740 million to the state’s Rainy Day Fund as part of the state budget for Fiscal Year 2024-25 – bringing the state’s reserve fund to a record high, nearly $7 billion.


House Bill 1745

Treasurer Garrity Applauds PA 529 Tax Credit Bill Being Incorporated into Recently Passed Tax Code, Offering Significant Benefits to Families and Employers


Harrisburg, PA - The 529 tax credit, originally House Bill 1745 and co-prime sponsored by state Reps. Kristin Marcell (R-Bucks) and Paul Friel (D-Chester), has been successfully incorporated into the Tax Code bill recently signed by Gov. Josh Shapiro. This new tax credit incentivizes employers to contribute to their employees’ PA 529 College and Career Savings Program accounts, providing substantial benefits to families across Pennsylvania and supporting workforce development.


INVEST

Treasurer Stacy Garrity: S&P Reaffirms Top Rating for INVEST Program Which Benefits Local Governments and Nonprofits


Harrisburg, PA - Pennsylvania Treasurer Stacy Garrity announced today that Standard and Poor’s Global Ratings (S&P) has reaffirmed the highest credit rating possible, AAAm, for Treasury’s INVEST program pools. INVEST, managed by the Pennsylvania Treasury Department, is an investment tool specifically designed for local government agencies and nonprofit organizations.


PA Vault

Treasurer Stacy Garrity Praises General Assembly for Unanimous Approval of Money Match Legislation

Money Match will allow Treasury to return unclaimed property automatically


Harrisburg, PA - Treasurer Stacy Garrity today praised the General Assembly for unanimously approving legislation to enact Pennsylvania Money Match, which will allow the Pennsylvania Treasury Department – for the first time ever – to automatically return unclaimed property to its rightful owners.


palladium

Treasurer Stacy Garrity Announces Results of Spring Unclaimed Property Auction

More than $262,000 in proceeds will be held in perpetuity for rightful owners to claim


Harrisburg, PA - Treasurer Stacy Garrity announced today that Treasury’s spring unclaimed property auction brought in more than $262,000. All proceeds are carefully logged by Treasury and will remain available for the rightful owners to claim no matter how much time passes.


Kid high fiving teacher

Morningstar Reinforces Excellence of PA 529 Investment Plan

“The Pennsylvania Treasury Department’s effective and steadfast advocacy on behalf of its investors puts the plan a notch above peers.”


Harrisburg, PA - Morningstar, a financial services company that rates 529 plans across the country, recently reinforced the reasons it awarded the Pennsylvania Treasury Department’s PA 529 College and Career Savings Program Investment Plan (IP) its Gold Rating in November – making it one of only two plans in the nation to receive Morningstar’s highest rating.