HOUSE DOCKET, NO. 4700        FILED ON: 3/21/2018

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 4365

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Denise Provost

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act authorizing the Somerville Retirement Board to divest from fossil fuel companies.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Denise Provost

27th Middlesex

3/21/2018

Christine P. Barber

34th Middlesex

3/22/2018

Mike Connolly

26th Middlesex

3/21/2018

Patricia D. Jehlen

Second Middlesex

3/23/2018


HOUSE DOCKET, NO. 4700        FILED ON: 3/21/2018

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 4365

By Ms. Provost of Somerville, a petition (accompanied by bill, House, No. 4365) of Denise Provost and others (with the approval of the mayor and city council) that the Somerville Retirement Board be authorized to divest from fossil fuel companies.  Public Service.  [Local Approval Received.]

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninetieth General Court
(2017-2018)

_______________

 

An Act authorizing the Somerville Retirement Board to divest from fossil fuel companies.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Section 1: Notwithstanding any general or special law to the contrary, the Somerville Retirement Board (hereinafter referred to as SRB) may, in accordance with the procurement process described in Chapter 32, section 23B of the General Laws, divest in whole or in part from any investment in fossil fuel companies.  In accordance with this provision, the SRB may, after following said procurement process, invest in index funds or other investment vehicles that may not include fossil fuel companies.  For the purposes of this section, fossil fuel companies shall be defined as a company identified by a Global Industry Classification System code in one of the following sectors: (1) coal and consumable fuels; (2) integrated oil and gas; (3) oil and gas exploration and production.

Section 2: This act shall take effect upon its passage.