Bill
Bill > SB681
OR SB681
OR SB681Relating to a moratorium on private investments by the State Treasurer in fossil fuel dominant funds.
summary
Introduced
01/13/2025
01/13/2025
In Committee
01/17/2025
01/17/2025
Crossed Over
Passed
Dead
06/27/2025
06/27/2025
Introduced Session
2025 Legislative Measures
Bill Summary
The statement includes a measure digest written in compliance with applicable readability standards. Digest: The Act says that for five years, the State Treasurer can’t invest in private funds that deal heavily in fossil fuels. (Flesch Readability Score: 72.7). Prohibits the State Treasurer from renewing investments in or making new investments in a private market fund if the managers of the fund have stated an intention to invest in fossil fuels, subject to fiduciary duties. Sunsets on January 2, 2031.
AI Summary
This bill establishes a five-year moratorium on the State Treasurer's investments in private market funds that have a significant focus on fossil fuels. Specifically, the bill prohibits the State Treasurer from making new or renewing investments in funds where managers intend to invest 10 percent or more of their assets in fossil fuel-related activities, such as extracting, transmitting, or creating infrastructure for fossil fuels. The bill requires the State Treasurer to monitor these funds, ensure contract compliance, and make annual reports to the Legislative Assembly about actions taken to reduce fossil fuel-related systemic risks and implement "just transition" principles. The legislation defines key terms like "investment" and "private market fund" and explicitly states that these restrictions do not override the State Treasurer's fiduciary responsibilities. The moratorium is set to expire on January 2, 2031, and aims to gradually move state investments away from fossil fuel-dependent enterprises while maintaining prudent investment strategies and minimizing financial penalties.
Committee Categories
Budget and Finance
Sponsors (10)
Jeff Golden (D)*,
Lisa Fragala (D),
Lew Frederick (D),
Mark Gamba (D),
Zach Hudson (D),
James Manning (D),
Travis Nelson (D),
Rob Nosse (D),
Katherine Pham (D),
Kathleen Taylor (D),
Last Action
In committee upon adjournment. (on 06/27/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SB681 |
| SB 681 (Witness Registration) | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/CommitteeMeetingDocument/295574 |
| investment of state funds ORS 293.701 | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/CommitteeMeetingDocument/295476 |
| SB 681 Preliminary SMS | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/CommitteeMeetingDocument/295469 |
| Open Government Impact Statement for SB681 INTRO | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureAnalysisDocument/84875 |
| BillText | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureDocument/SB681/Introduced |
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