SENATE DOCKET, NO. 505        FILED ON: 1/14/2019

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 636

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Marc R. Pacheco

_________________

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 independent retirement boards to divest from fossil fuel companies.

_______________

PETITION OF:

 

Name:

District/Address:

 

Marc R. Pacheco

First Plymouth and Bristol

 

Jack Patrick Lewis

7th Middlesex

1/24/2019

Maria Duaime Robinson

6th Middlesex

1/24/2019

Mike Connolly

26th Middlesex

1/25/2019

Anne M. Gobi

Worcester, Hampden, Hampshire and Middlesex

1/30/2019

Edward J. Kennedy

First Middlesex

1/30/2019

Paul R. Feeney

Bristol and Norfolk

1/31/2019

Thomas M. Stanley

9th Middlesex

1/31/2019

James B. Eldridge

Middlesex and Worcester

1/31/2019

David Henry Argosky LeBoeuf

17th Worcester

1/31/2019

Sal N. DiDomenico

Middlesex and Suffolk

2/1/2019

Joan B. Lovely

Second Essex

2/1/2019

Michael O. Moore

Second Worcester

2/1/2019

Julian Cyr

Cape and Islands

2/1/2019

Rebecca L. Rausch

Norfolk, Bristol and Middlesex

2/1/2019

Lori A. Ehrlich

8th Essex

2/1/2019

Jennifer E. Benson

37th Middlesex

2/1/2019

Carlos González

10th Hampden

2/1/2019

Nika C. Elugardo

15th Suffolk

2/4/2019

David Allen Robertson

19th Middlesex

2/4/2019

John J. Lawn, Jr.

10th Middlesex

2/12/2019

Patricia D. Jehlen

Second Middlesex

2/25/2019

Patrick Joseph Kearney

4th Plymouth

1/31/2020


SENATE DOCKET, NO. 505        FILED ON: 1/14/2019

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 636

By Mr. Pacheco, a petition (accompanied by bill, Senate, No. 636) of Marc R. Pacheco, Jack Patrick Lewis, Maria Duaime Robinson, Mike Connolly and other members of the General Court for legislation to authorize independent retirement boards to divest from fossil fuel companies.  Financial Services.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-First General Court
(2019-2020)

_______________

 

An Act authorizing independent retirement boards 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, any Independent Retirement Board may, in accordance with the procurement process described in M.G.L. c. 32, § 23B, divest in whole or in part from any investment in fossil fuel companies. In accordance with this provision, an independent retirement board may, after following the process described in M.G.L. c. 32, § 23B, 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 follows: “Fossil fuel company”, 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.