Kansas 2023-2024 Regular Session

Kansas House Bill HB2100

Introduced
1/19/23  
Refer
1/19/23  
Report Pass
2/9/23  
Engrossed
2/17/23  
Refer
2/20/23  
Report Pass
3/15/23  
Enrolled
4/24/23  

Caption

Enacting the Kansas public investments and contracts protection act concerning environmental, social and governance (ESG) criteria, prohibiting the state and political subdivisions from giving preferential treatment to or discriminating against companies based on such ESG criteria in procuring or letting contracts, requiring KPERS fiduciaries to act solely in the financial interest of the participants and beneficiaries of the system, indemnifying KPERS with respect to actions taken in compliance with such act, restricting state agencies from adopting ESG criteria or requiring any person or business to operate in accordance with such criteria and providing for enforcement of such act by the attorney general.

Impact

This legislation seeks to alter the landscape of public contracts and investments within Kansas by limiting the ability of government entities to impose ESG-related requirements on businesses. It prevents local governments or state agencies from adopting regulations that could disadvantage businesses not meeting specific ESG standards. In doing so, the bill intends to protect traditional industries and promote a more aligned focus on profitability in public investments, potentially influencing the dynamics of investment strategies within public pension funds and other state-managed assets.

Summary

House Bill 2100, known as the Kansas Public Investments and Contracts Protection Act, aims to regulate how the state and political subdivisions engage with companies based on environmental, social, and governance (ESG) criteria. The bill prohibits preferential treatment or discrimination against companies in the procurement of public contracts based on their adherence to these ESG criteria. It also mandates fiduciaries of the Kansas Public Employees Retirement System to act solely in the financial interests of the system's participants and beneficiaries, emphasizing rigorous financial standards over social objectives in investment decisions.

Sentiment

The sentiment regarding HB2100 appears mixed, with significant support from certain legislative factions advocating for reduced governmental constraints on businesses, arguing this promotes economic freedom and stimulates job creation. Conversely, critics raise concerns that the bill may undermine efforts to address social responsibility and environmental sustainability. They fear that it may reflect a broader trend of diminishing local control and failing to hold corporations accountable for their social and environmental impacts.

Contention

Key points of contention surrounding HB2100 include the balance between economic interests and social responsibility obligations. Opponents argue that the inability to consider ESG criteria could lead to negative environmental and social outcomes, particularly as global trends increasingly favor sustainability and corporate responsibility. Proponents, however, contend that the focus should remain squarely on financial performance, suggesting that such a pivot is essential for fostering a competitive business environment in Kansas.

Companion Bills

No companion bills found.

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