MA S1516

Bill

MA S1516

Relative to the divestment of state pension funds from nuclear weapons

Introduced
01/22/2019

In Committee
01/22/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

For legislation relative to the divestment of state pension funds from nuclear weapons. Public Service.

AI Summary

This bill aims to require the Massachusetts Pension Reserves Investment Management Board (PRIM) to divest the state's pension funds from companies that produce nuclear weapons. The key provisions of the bill include: 1) requiring PRIM to identify and file a list of any direct or indirect holdings in "nuclear weapon producers"; 2) mandating PRIM to sell, redeem, divest, or withdraw all publicly-traded and non-publicly traded securities of these companies within 12 months; 3) allowing PRIM to cease divestment if the value of assets under management falls below 99.5% of the hypothetical value without any divestment; 4) indemnifying PRIM board members, officers, and employees from any liability related to the divestment; and 5) requiring PRIM to annually report on the divestment actions taken.

Committee Categories

Labor and Employment

Sponsors (7)

Mike Connolly (D), Julian Cyr (D), Sal DiDomenico (D), Jamie Eldridge (D), Jack Lewis (D), Denise Provost (D), Becca Rausch (D),

Last Action

Accompanied a study order, see S2545 (on 02/18/2020)

Official Document

https://malegislature.gov/Bills/191/S1516

(8 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/S1516
Bill	https://malegislature.gov/Bills/191/S1516.pdf

Bill	Bill Name	Last Action	Type
H2202	Relative to the divestment of state pension funds from nuclear weapons	Accompanied a study order, see H4722	Similar To
H3211	Resolutions to prevent the first use of nuclear weapons by the United States	Accompanied a study order, see H4404	Similar To
H3239	Resolve creating a citizens commission concerning the commonwealth of Massachusetts being in alignment with the UN treaty on the prohibition of nuclear weapons	Accompanied a study order, see H5005	Similar To
H3240	Resolutions relative to the prohibition of nuclear weapons	Accompanied a study order, see H5006	Similar To
S2155	Resolutions relative to the prohibition of nuclear weapons	Accompanied a study order, see S2551	Similar To
S2157	Resolve creating a citizens commission concerning the commonwealth of Massachusetts being in alignment with the UN treaty on the prohibition of nuclear weapons	Accompanied a study order, see S2551	Similar To
S2165	Resolutions to prevent the first use of nuclear weapons by the United States	Accompanied a study order, see S2551	Similar To
S2545	Order relative to authorizing the joint committee on Public Service to make an investigation and study of certain current Senate documents relative to public service issues	Reported (in part) by S1477	Replaced by

Bill > S1516

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Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (7)

Last Action

Official Document

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