MD SB566 | 2022 | Regular Session
Status
Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on April 9 2022 - 100% progression
Action: 2022-04-09 - Enacted under Article II, Section 17(b) of the Maryland Constitution - Chapter 25
Text: Latest bill text (Chaptered) [PDF]
Spectrum: Bipartisan Bill
Status: Passed on April 9 2022 - 100% progression
Action: 2022-04-09 - Enacted under Article II, Section 17(b) of the Maryland Constitution - Chapter 25
Text: Latest bill text (Chaptered) [PDF]
Summary
Requiring a fiduciary of the State Retirement and Pension System to consider certain climate risks on the System's assets; requiring a climate risk assessment to include a certain review of the System's investment portfolio to determine the level of climate risk across certain sectors and asset classes, identification of investment opportunities in certain energy sectors, a process for regular reassessment of certain impact of climate risk, and utilization of the best data and practices for climate risk analyses; etc.
Title
State Retirement and Pension System – Investment Climate Risk – Fiduciary Duties
Sponsors
Roll Calls
2022-03-30 - House - Third Reading Passed (Y: 94 N: 40 NV: 1 Abs: 6) [PASS]
2022-03-14 - Senate - Third Reading Passed (Y: 33 N: 14 NV: 0 Abs: 0) [PASS]
2022-03-10 - Senate - Floor Amendment 433824/1 (Senator Cassilly) Rejected (Y: 16 N: 30 NV: 1 Abs: 0) [FAIL]
2022-03-14 - Senate - Third Reading Passed (Y: 33 N: 14 NV: 0 Abs: 0) [PASS]
2022-03-10 - Senate - Floor Amendment 433824/1 (Senator Cassilly) Rejected (Y: 16 N: 30 NV: 1 Abs: 0) [FAIL]
History
Date | Chamber | Action |
---|---|---|
2022-04-09 | Senate | Enacted under Article II, Section 17(b) of the Maryland Constitution - Chapter 25 |
2022-03-31 | Senate | Returned Passed |
2022-03-30 | House | Third Reading Passed (94-40) |
2022-03-29 | House | Favorable Adopted Second Reading Passed |
2022-03-29 | House | Favorable Report by Appropriations |
2022-03-29 | House | Hearing canceled |
2022-03-23 | House | Hearing 3/29 at 1:00 p.m. |
2022-03-15 | House | Referred Appropriations |
2022-03-14 | Senate | Third Reading Passed (33-14) |
2022-03-10 | Senate | Second Reading Passed |
2022-03-10 | Senate | Floor Amendment {433824/1 (Senator Cassilly) Rejected (16-30) |
2022-03-10 | Senate | Favorable Adopted |
2022-03-08 | Senate | Motion Special Order until 3/9 (Senator Simonaire) Adopted |
2022-03-08 | Senate | Favorable |
2022-03-07 | Senate | Favorable Report by Budget and Taxation |
2022-02-10 | Senate | Hearing 2/24 at 8:30 a.m. |
2022-02-10 | Senate | Hearing canceled |
2022-02-01 | Senate | Hearing 2/24 at 9:00 a.m. |
2022-02-01 | Senate | First Reading Budget and Taxation |
Same As/Similar To
HB740 (Crossfiled) 2022-04-09 - Enacted under Article II, Section 17(b) of the Maryland Constitution - Chapter 24
Subjects
Committees and Commissions
Data
Examinations
Fiduciaries
Investments
Public Officials
Reports
Retirement
Revenue and Taxes
State Employees
State Government - Pensions and Retirement
Data
Examinations
Fiduciaries
Investments
Public Officials
Reports
Retirement
Revenue and Taxes
State Employees
State Government - Pensions and Retirement
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
State Personnel and Pensions | 21 | 116 | (n/a) | See Bill Text |
State Personnel and Pensions | 21 | 116.1 | (n/a) | See Bill Text |