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HOUSE DOCKET, NO. 3792 FILED ON: 1/17/2025
HOUSE . . . . . . . . . . . . . . . No. 2904
The Commonwealth of Massachusetts
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PRESENTED BY:
Hadley Luddy and Dylan A. Fernandes
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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
An Act authorizing independent retirement systems to divest from fossil fuel companies.
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PETITION OF:
NAME:DISTRICT/ADDRESS :DATE ADDED:Hadley Luddy4th Barnstable1/17/2025Dylan A. FernandesPlymouth and Barnstable1/17/2025 1 of 2
HOUSE DOCKET, NO. 3792 FILED ON: 1/17/2025
HOUSE . . . . . . . . . . . . . . . No. 2904
By Representative Luddy of Orleans and Senator Fernandes, a joint petition (accompanied by
bill, House, No. 2904) of Hadley Luddy and Dylan A. Fernandes relative to authorizing
independent retirement systems to divest from fossil fuel companies. Public Service.
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 2515 OF 2023-2024.]
The Commonwealth of Massachusetts
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In the One Hundred and Ninety-Fourth General Court
(2025-2026)
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An Act authorizing independent retirement systems to divest from fossil fuel companies.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
of the same, as follows:
1 SECTION 1. For the purposes of this section, an “independent retirement system” shall
2mean any Massachusetts public pension system under the oversight, monitoring, and regulation
3of the public employee retirement administration commission; and a “fossil fuel company” shall
4mean a company identified by a Global Industry Classification Standard code in one of the
5following sectors: (1) coal and consumable fuels; (2) integrated oil and gas; or (3) oil and gas
6exploration and production.
7 Notwithstanding any general or special law to the contrary, any independent retirement
8system may, in accordance with the procurement process under section 23B of chapter 32 of the
9General Laws, divest in whole or in part from any investment in fossil fuel companies. In
10accordance with this section, the board of an independent retirement system may, after following 2 of 2
11the procurement process under said section 23B of said chapter 32, invest in index funds or other
12investment vehicles that may not include fossil fuel companies.
13 SECTION 2. This act shall take effect upon its passage.