Section 1. Section 3 of Chapter 62 of the General Laws as appearing in the 2022 official edition, is hereby amended by inserting the following 2 definitions:-

“Fossil fuel free portfolio", a portfolio that restricts fossil fuel investments to less than 0.25% of its portfolio and has an expense ratio no higher than 1.5 times the median expense ratio of all portfolios offered by MEFA. In addition, the fund must clearly state that fossil fuel companies are excluded from the fund’s prospectus.

“Fossil fuel investments”,  companies that own proved or probable carbon reserves or engage in or derive revenue from one or more of the following: 1) exploration for coal, oil, or gas, 2) extraction of coal, oil, or gas 3) processing of coal, oil, or gas, 4) refining coal, oil, or gas, 5) transmission of coal, oil, or gas, or 6) supplying equipment or services to oil fields or offshore drilling platforms.

Section 2. Section 3 of Chapter 62 of the General Laws as appearing in the 2022 official edition is hereby amended by striking out, in lines 152 through 154 the words “a prepaid tuition program or college savings program established by the commonwealth or an instrumentality or authority of the commonwealth” and inserting in place thereof, the following:-

“a prepaid tuition program or college savings program established by the commonwealth or an instrumentality or authority of the commonwealth, or any “fossil fuel free” investment option within a prepaid tuition program or college savings program that is not otherwise available under a program established by the commonwealth”.