MA S722

Bill

Authorizing independent retirement boards to divest from fossil fuel companies

Introduced
03/29/2021

In Committee
02/14/2022

Crossed Over

Passed

Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

For legislation to authorize independent retirement boards to divest from fossil fuel companies. Financial Services.

AI Summary

This bill authorizes independent retirement boards in Massachusetts, such as public pension systems, to divest from fossil fuel companies, which are defined as companies in the coal, integrated oil and gas, or oil and gas exploration and production sectors. The bill exempts these retirement boards from any conflicting statutory or common law obligations regarding their choice of asset managers, investment funds, or investments when complying with this act. The bill takes effect upon its passage.

Committee Categories

Budget and Finance, Business and Industry, Labor and Employment

Sponsors (7)

Marc Pacheco (D)*, Jo Comerford (D), Sal DiDomenico (D), Jamie Eldridge (D), Pat Jehlen (D), Jack Lewis (D), Patrick O'Connor (R),

Last Action

Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 02/14/2022)

Official Document

https://malegislature.gov/Bills/192/S722

(9 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/S722
Bill	https://malegislature.gov/Bills/192/S722.pdf

Bill	Bill Name	Last Action	Type
H2566	Relative to documentary material or data received by retirement boards	No further action taken	Similar To
H2597	Relative to the divestment of state pension funds from nuclear weapons	Accompanied a study order, see H5206	Similar To
H2624	Defining membership of retirement boards	Accompanied a study order, see H4960	Similar To
H2890	Providing for climate change adaptation infrastructure and affordable housing investments in the Commonwealth	Accompanied a study order, see H5351	Similar To
H3388	Relative to investments in tourism and visitation marketing and promotion	Accompanied a study order, see H4967	Similar To
S1364	Authorizing certain investments by the Treasurer of the town of Milton	Signed by the Governor, Chapter 60 of the Acts of 2021	Similar To
S1716	Relative to retirement boards	Accompanied a study order, see S2679	Similar To
S1735	Relative to pension divestment from companies selling weapons to the Kingdom of Saudi Arabia	Accompanied a study order, see S2679	Similar To
S692	Relative to the Massachusetts Credit Union Share Insurance Corporation	Accompanied a study order, see S2699	Similar To

Bill > S722

MA S722

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (7)

Last Action

Official Document

bill text

bill summary

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