Bill > SB01092

This bill proposes several significant changes to how public funds are managed and invested, with a focus on ensuring financial neutrality and transparency. The legislation would require fiduciaries of public funds to base investment decisions solely on financial factors, prohibiting the consideration of environmental, social, and governance (ESG) criteria in state contracts, pension funds, and investments in public post-secondary education. The bill aims to prevent what it sees as discriminatory investment practices by banning state contracts or investments in companies that intentionally discriminate against certain companies or industries. It also seeks to prohibit social credit scoring by banks and financial institutions, and mandates full disclosure and transparency from state investment boards and government agencies. Additionally, the bill would empower attorneys general to investigate ESG institutions and demand accountability for their use of retirement plans and investments, while also strengthening ethics codes for financial advisors to ensure they are not making investment decisions based on political motivations. Ultimately, the legislation is designed to protect state finances by ensuring that investment decisions are made purely on financial merits, without what the bill's proponents view as potentially politically or ideologically influenced considerations.

Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB01092&which_year=2025