KY SB205 | 2022 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 8-0)
Status: Passed on April 8 2022 - 100% progression
Action: 2022-04-08 - signed by Governor (Acts Ch. 120)
Text: Latest bill text (Chaptered) [PDF]
Spectrum: Partisan Bill (Republican 8-0)
Status: Passed on April 8 2022 - 100% progression
Action: 2022-04-08 - signed by Governor (Acts Ch. 120)
Text: Latest bill text (Chaptered) [PDF]
Summary
Create new sections of KRS Chapter 41 to declare findings regarding the financial harms of boycotting energy companies for dealing in fossil-fuel based energy; define terms; require the State Treasurer to publish, maintain, and update a list of financial companies engaged in energy company boycotts and to file the list with the Legislative Research Commission and the Attorney General; require state governmental entities to notify the Treasurer of the listed financial companies in which the state governmental entity owns direct or indirect holdings; require state governmental entities to inform and warn listed financial companies that they may become subject to divestment by the state governmental agency unless they clarify their actions or cease their energy company boycott; require state governmental entities to divest from the listed financial company if it does not cease its energy company boycott in the timeframes established by the section; provide for delays in the divestment schedule if it will result in a loss of value or a benchmark deviation; require for delays in divestment to be reported to the Treasurer, the Legislative Research Commission, and the Attorney General; provide that a state governmental entity shall not be required to divest from any holdings in actively or passively managed investment funds or private equity funds; provide for exceptions from divestment requirements; require that beginning on December 1, 2023, and each December 1 thereafter, each state governmental agency shall file a report with the Treasurer, the Attorney General, and the Legislative Research Commission identifying the divestments it made and the investments prohibited under the Act; allow the Attorney General or the Treasurer to enforce Sections 1 to 4 and 5 of the Act; prohibit a governmental entity from entering into a contract for goods or services with a company that engages in energy company boycotts; provide exceptions; amend KRS 286.2-015 to conform.
Title
AN ACT relating to state dealings with companies that engage in energy company boycotts.
Sponsors
| Sen. Robert Mills [R] | Sen. Rick Girdler [R] | Sen. Ralph Alvarado [R] | Sen. Jared Carpenter [R] |
| Sen. Danny Carroll [R] | Sen. Brandon Smith [R] | Sen. Brandon Storm [R] | Sen. Phillip Wheeler [R] |
Roll Calls
2022-03-29 - Senate - Senate: Third Reading RSN# 2265 (Y: 29 N: 6 NV: 0 Abs: 3) [PASS]
2022-03-24 - House - House: Third Reading RCS# 383 (Y: 73 N: 22 NV: 0 Abs: 5) [PASS]
2022-03-07 - Senate - Senate: Third Reading W/scs1 RSN# 2099 (Y: 26 N: 5 NV: 0 Abs: 7) [PASS]
2022-03-24 - House - House: Third Reading RCS# 383 (Y: 73 N: 22 NV: 0 Abs: 5) [PASS]
2022-03-07 - Senate - Senate: Third Reading W/scs1 RSN# 2099 (Y: 26 N: 5 NV: 0 Abs: 7) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2022-04-08 | Senate | signed by Governor (Acts Ch. 120) |
| 2022-03-30 | Senate | delivered to Governor |
| 2022-03-30 | Senate | enrolled, signed by Speaker of the House |
| 2022-03-30 | Senate | enrolled, signed by President of the Senate |
| 2022-03-29 | Senate | passed 29-6 |
| 2022-03-29 | Senate | Senate concurred in House Committee Substitute (1) |
| 2022-03-29 | Senate | posted for passage for concurrence in House Committee Substitute (1) |
| 2022-03-25 | Senate | to Rules (S) |
| 2022-03-25 | Senate | received in Senate |
| 2022-03-24 | House | 3rd reading, passed 73-22 with Committee Substitute (1) |
| 2022-03-24 | House | placed in the Orders of the Day |
| 2022-03-24 | House | taken from Rules |
| 2022-03-24 | House | reported favorably, to Rules with Committee Substitute (1) |
| 2022-03-22 | House | returned to Natural Resources & Energy (H) |
| 2022-03-22 | House | 2nd reading |
| 2022-03-22 | House | taken from Natural Resources & Energy (H) |
| 2022-03-21 | House | returned to Natural Resources & Energy (H) |
| 2022-03-21 | House | 1st reading |
| 2022-03-21 | House | taken from Natural Resources & Energy (H) |
| 2022-03-16 | House | to Natural Resources & Energy (H) |
| 2022-03-08 | House | to Committee on Committees (H) |
| 2022-03-08 | House | received in House |
| 2022-03-07 | Senate | 3rd reading, passed 26-5 with Committee Substitute (1) |
| 2022-03-03 | Senate | posted for passage in the Regular Orders of the Day for Monday, March 07, 2022 |
| 2022-03-03 | Senate | 2nd reading, to Rules |
| 2022-03-02 | Senate | reported favorably, 1st reading, to Calendar with Committee Substitute (1) |
| 2022-02-24 | Senate | to Natural Resources & Energy (S) |
| 2022-02-22 | Senate | to Committee on Committees (S) |
| 2022-02-22 | Senate | introduced in Senate |
Subjects
Actuarial Analysis
Attorney General
Energy
Environment and Conservation
Financial Responsibility
Legislative Research Commission
Reports Mandated
Retirement and Pensions
Securities
State Agencies
Treasurer
Attorney General
Energy
Environment and Conservation
Financial Responsibility
Legislative Research Commission
Reports Mandated
Retirement and Pensions
Securities
State Agencies
Treasurer
