summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
So much of the recommendations of the Department of the State Treasurer (House, No. 27) as relates to requiring public pension fund divestment from ammunition and firearms. Public Service.
AI Summary
This bill requires the Massachusetts public pension fund, known as the Pension Reserves Investment Trust (PRIT), to divest from companies that derive more than 15% of their revenue from the manufacture or sale of ammunition, firearms, or firearm accessories for non-law enforcement or non-military purposes. The bill gives the PRIT 12 months to sell, redeem, or divest from these companies, with an exception for indirectly held investments in actively managed funds. The bill also provides legal protections for PRIT board members, officers, employees, and investment managers who make decisions to restrict, reduce, or eliminate these investments. Lastly, the bill requires the PRIT to annually report on its compliance with the divestment requirements.
Committee Categories
Labor and Employment
Sponsors (0)
No sponsors listed
Last Action
Accompanied a study order, see H4722 (on 05/20/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H55 |
| Bill | https://malegislature.gov/Bills/191/H55.pdf |
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