Bill
Bill > LD99
ME LD99
ME LD99An Act To Require the State To Divest Itself of Assets Invested in the Fossil Fuel Industry
summary
Introduced
01/11/2021
01/11/2021
In Committee
01/11/2021
01/11/2021
Crossed Over
06/03/2021
06/03/2021
Passed
06/08/2021
06/08/2021
Dead
Signed/Enacted/Adopted
06/10/2021
06/10/2021
Introduced Session
130th Legislature
Bill Summary
This bill requires the State to divest itself of assets invested in the fossil fuel industry.
AI Summary
This bill requires the State of Maine to divest itself of assets invested in the fossil fuel industry. Specifically, the bill prohibits the State Treasurer from investing in commercial paper or corporate bonds issued by fossil fuel companies, and requires the Treasurer to review and divest any holdings in stocks, securities, or other obligations of fossil fuel companies or their subsidiaries, affiliates, or parents by January 1, 2026. The bill also imposes similar divestment requirements on the Maine Public Employees Retirement System, and requires the Treasurer and Retirement System to report annually to the Legislature on the progress of the divestment process.
Committee Categories
Housing and Urban Affairs
Sponsors (10)
Maggie O'Neil (D)*,
Catherine Breen (D),
Michael Brennan (D),
Mattie Daughtry (D),
Chloe Maxmin (D),
Genevieve McDonald (D),
Victoria Morales (D),
Laurie Osher (D),
Rachel Talbot Ross (D),
Sophia Warren (D),
Last Action
Roll Call Ordered Roll Call Number 313 Yeas 18 - Nays 15 - Excused 2 - Absent 0 (on 06/10/2021)
Official Document
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