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]

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.

Tracking Information

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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]

History

DateChamberAction
2022-04-09SenateEnacted under Article II, Section 17(b) of the Maryland Constitution - Chapter 25
2022-03-31SenateReturned Passed
2022-03-30HouseThird Reading Passed (94-40)
2022-03-29HouseFavorable Adopted Second Reading Passed
2022-03-29HouseFavorable Report by Appropriations
2022-03-29HouseHearing canceled
2022-03-23HouseHearing 3/29 at 1:00 p.m.
2022-03-15HouseReferred Appropriations
2022-03-14SenateThird Reading Passed (33-14)
2022-03-10SenateSecond Reading Passed
2022-03-10SenateFloor Amendment {433824/1 (Senator Cassilly) Rejected (16-30)
2022-03-10SenateFavorable Adopted
2022-03-08SenateMotion Special Order until 3/9 (Senator Simonaire) Adopted
2022-03-08SenateFavorable
2022-03-07SenateFavorable Report by Budget and Taxation
2022-02-10SenateHearing 2/24 at 8:30 a.m.
2022-02-10SenateHearing canceled
2022-02-01SenateHearing 2/24 at 9:00 a.m.
2022-02-01SenateFirst 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


Code Citations

ChapterArticleSectionCitation TypeStatute Text
State Personnel and Pensions21116(n/a)See Bill Text
State Personnel and Pensions21116.1(n/a)See Bill Text

Maryland State Sources


Bill Comments

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