Bill
Bill > A1733
NJ A1733
Prohibits investment by State of pension and annuity funds in, and requires divestment from, 200 largest publicly traded fossil fuel companies.
summary
Introduced
01/11/2022
01/11/2022
In Committee
01/11/2022
01/11/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Prohibits investment by State of pension and annuity funds in, and requires divestment from, 200 largest publicly traded fossil fuel companies.
AI Summary
This bill prohibits the State of New Jersey from investing pension and annuity funds in the 200 largest publicly traded fossil fuel companies, based on the carbon content of the companies' proven oil, gas, and coal reserves. It requires the State Investment Council and the Director of the Division of Investment to divest from such companies by January 1, 2022, with a longer timeline for coal companies. The bill provides for limited circumstances where the Director can cease divestment or reinvest if it would cause the total value of pension and annuity fund assets to fall below 99.5% of the hypothetical value without any divestment. The bill also requires the Director to submit annual reports on the divestment process and progress.
Committee Categories
Government Affairs
Sponsors (28)
Clinton Calabrese (D)*,
Mila Jasey (D)*,
John McKeon (D)*,
Reginald Atkins (D),
Daniel Benson (D),
Ralph Caputo (D),
Linda Carter (D),
Annette Chaparro (D),
Joe Danielsen (D),
Roy Freiman (D),
Shama Haider (D),
Robert Karabinchak (D),
Jim Kennedy (D),
Angela Mcknight (D),
Bill Moen (D),
Raj Mukherji (D),
Ellen Park (D),
Eliana Pintor Marin (D),
Annette Quijano (D),
Bill Spearman (D),
Shanique Speight (D),
Sterley Stanley (D),
Shavonda Sumter (D),
Lisa Swain (D),
Britnee Timberlake (D),
Cleopatra Tucker (D),
Chris Tully (D),
Benjie Wimberly (D),
Last Action
Assembly Environment and Solid Waste Hearing (10:00 8/11/2022 LMH Room, Toms River Municipal Complex, 33 Washington Street, To) (on 08/11/2022)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A1733 |
| BillText | https://pub.njleg.gov/Bills/2022/A2000/1733_I1.HTM |
| Bill | https://pub.njleg.gov/Bills/2022/A2000/1733_I1.PDF |
| BillText | https://www.njleg.state.nj.us/Bills/2022/A2000/1733_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/A2000/1733_I1.PDF |
Loading...