An Act amending the act of July 2, 2010 (P.L.266, No.44), known as the Protecting Pennsylvania's Investments Act, amending the title of the act; further providing for definitions; and providing for identification of assault weapons manufacturers, for required actions related to assault weapons manufacturers and for reporting relating to assault weapons manufacturers.

SB 178 amends Pennsylvania's investment divestment law to require state retirement funds (like the State Employees' Retirement System) to identify and potentially divest from companies that manufacture assault weapons. It defines "assault weapons" broadly (including certain rifles, pistols, and shotguns) and mandates that funds notify these manufacturers within 180 days if they continue such production, giving them time to commit to stopping. If manufacturers don't cease production, funds must sell all related investments within 26 months. The bill directly affects state pension fund portfolios and aims to align investment policies with firearm safety concerns.