Bill > HF2806

This bill, titled "The Stop Environmental Social Governance (ESG) and Social Credit Score Discrimination Act," introduces three main provisions targeting investment, state contracts, and financial services. First, it prohibits the State Board of Investment from investing in companies that "boycott" certain industries like mining, energy production, agriculture, and commercial lumber production, requiring divestment by July 1, 2030. The bill defines "boycott" as refusing to do business with or penalizing companies that do not meet voluntary environmental standards beyond existing law. Second, the bill mandates that state contract vendors certify they do not and will not boycott these specified industries, with potential civil penalties of $10,000 for violations. Third, the bill prevents financial institutions from discriminating against individuals or entities based on political affiliation, social credit scores, or environmental, social, and governance (ESG) criteria, allowing individuals who experience such discrimination to seek injunctive relief and financial damages. The bill becomes effective July 1, 2025, and includes a severability clause ensuring that if any part of the act is found invalid, the remaining provisions can still be enforced. The legislation aims to protect certain industries from what it perceives as discriminatory business practices related to environmental and social standards.

Government Affairs

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2806&ssn=0&y=2025