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Bill > H2515

MA H2515

MA H2515
Authorizing independent retirement systems to divest from fossil fuel companies

summary

Introduced
02/16/2023
In Committee
03/18/2024
Crossed Over
Passed
Dead
12/31/2024

Introduced Session

193rd General Court

Bill Summary

Relative to authorizing independent retirement systems to divest from fossil fuel companies. Public Service.

AI Summary

This bill authorizes independent retirement systems, which are public pension systems overseen by the Public Employee Retirement Administration Commission, to divest from fossil fuel companies. The bill defines a "fossil fuel company" as one classified under certain industry codes. The bill allows these retirement systems to divest from fossil fuel investments and invest in index funds or other vehicles that may exclude fossil fuel companies, following the procurement process outlined in the existing law.

Committee Categories

Budget and Finance, Labor and Employment

Sponsors (3)

Last Action

No further action taken (on 12/31/2024)

Bill Topics

Energy
  • ‐ Coal
  • ‐ Natural Gas and Oil
Labor and Employment
  • ‐ Employee Benefits
(1 Companion Bills)

bill text

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Document Type Source Location Created
State Bill Page https://malegislature.gov/Bills/193/H2515 03/14/2023
BillText https://malegislature.gov/Bills/193/H2515.pdf 03/14/2023
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