summary
Introduced
02/20/2023
02/20/2023
In Committee
03/27/2023
03/27/2023
Crossed Over
04/19/2023
04/19/2023
Passed
04/19/2023
04/19/2023
Dead
Signed/Enacted/Adopted
05/02/2023
05/02/2023
Introduced Session
2023 Regular Session
Bill Summary
Revises provisions relating to deposits & investments of state money, retirement system & trust fund assets, & public funds; defined contribution plans; bonds; government contracts; financial institutions; consumer finance; money services businesses; & unfair & deceptive trade practices.
AI Summary
This bill revises provisions relating to deposits and investments of state money, retirement system and trust fund assets, and public funds. It requires investment decisions to be made solely based on pecuniary factors, rather than social, political, or ideological interests. The bill also prohibits government entities and financial institutions from denying or discriminating against persons based on their political views, religious affiliations, or other non-risk-based factors. Additionally, the bill creates reporting requirements for retirement systems and plans regarding their investment decision-making and the exercise of shareholder rights. Finally, the bill prohibits the issuance of environmental, social, and governance (ESG) bonds and imposes restrictions on investment manager communications.
Committee Categories
Business and Industry, Government Affairs
Sponsors (19)
Bob Rommel (R)*,
Tyler Sirois (R)*,
Dean Black (R),
David Borrero (R),
Adam Botana (R),
James Buchanan (R),
Tom Fabricio (R),
Mike Giallombardo (R),
Tommy Gregory (R),
Jeff Holcomb (R),
Berny Jacques (R),
Thomas Leek (R),
Randy Maggard (R),
Ralph Massullo (R),
Stan McClain (R),
Toby Overdorf (R),
Rachel Plakon (R),
Rick Roth (R),
John Snyder (R),
Other Sponsors (2)
Commerce Committee (House), State Affairs Committee (House)
Last Action
Chapter No. 2023-28 (on 05/02/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
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