Bill > H2244

This bill requires the public pension fund to divest from ammunition, firearms, and firearm accessory manufacturing and retailing companies within 12 months. The bill defines key terms like "ammunition," "firearm," and "firearm accessory," and sets a 15% revenue threshold for companies to be subject to divestment. The public fund must identify and report on its holdings in these companies, and is exempted from any conflicting statutory or common law obligations related to the divestment. The public fund can cease divestment if the value of its assets becomes equal to or less than 99.5% of the hypothetical value without any divestment, but must provide justification for this decision. The bill also indemnifies the public fund's board members, officers, employees, and investment managers from any liability related to the divestment decisions.

Labor and Employment

https://malegislature.gov/Bills/191/H2244