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| 2 | 2 | | HOUSE DOCKET, NO. 3792 FILED ON: 1/17/2025 |
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| 3 | 3 | | HOUSE . . . . . . . . . . . . . . . No. 2904 |
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| 4 | 4 | | The Commonwealth of Massachusetts |
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| 5 | 5 | | _________________ |
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| 6 | 6 | | PRESENTED BY: |
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| 7 | 7 | | Hadley Luddy and Dylan A. Fernandes |
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| 8 | 8 | | _________________ |
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| 9 | 9 | | To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General |
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| 10 | 10 | | Court assembled: |
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| 11 | 11 | | The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill: |
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| 12 | 12 | | An Act authorizing independent retirement systems to divest from fossil fuel companies. |
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| 13 | 13 | | _______________ |
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| 14 | 14 | | PETITION OF: |
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| 15 | 15 | | NAME:DISTRICT/ADDRESS :DATE ADDED:Hadley Luddy4th Barnstable1/17/2025Dylan A. FernandesPlymouth and Barnstable1/17/2025 1 of 2 |
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| 16 | 16 | | HOUSE DOCKET, NO. 3792 FILED ON: 1/17/2025 |
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| 17 | 17 | | HOUSE . . . . . . . . . . . . . . . No. 2904 |
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| 18 | 18 | | By Representative Luddy of Orleans and Senator Fernandes, a joint petition (accompanied by |
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| 19 | 19 | | bill, House, No. 2904) of Hadley Luddy and Dylan A. Fernandes relative to authorizing |
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| 20 | 20 | | independent retirement systems to divest from fossil fuel companies. Public Service. |
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| 21 | 21 | | [SIMILAR MATTER FILED IN PREVIOUS SESSION |
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| 22 | 22 | | SEE HOUSE, NO. 2515 OF 2023-2024.] |
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| 23 | 23 | | The Commonwealth of Massachusetts |
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| 24 | 24 | | _______________ |
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| 25 | 25 | | In the One Hundred and Ninety-Fourth General Court |
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| 26 | 26 | | (2025-2026) |
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| 27 | 27 | | _______________ |
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| 28 | 28 | | An Act authorizing independent retirement systems to divest from fossil fuel companies. |
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| 29 | 29 | | Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority |
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| 30 | 30 | | of the same, as follows: |
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| 31 | 31 | | 1 SECTION 1. For the purposes of this section, an “independent retirement system” shall |
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| 32 | 32 | | 2mean any Massachusetts public pension system under the oversight, monitoring, and regulation |
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| 33 | 33 | | 3of the public employee retirement administration commission; and a “fossil fuel company” shall |
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| 34 | 34 | | 4mean a company identified by a Global Industry Classification Standard code in one of the |
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| 35 | 35 | | 5following sectors: (1) coal and consumable fuels; (2) integrated oil and gas; or (3) oil and gas |
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| 36 | 36 | | 6exploration and production. |
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| 37 | 37 | | 7 Notwithstanding any general or special law to the contrary, any independent retirement |
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| 38 | 38 | | 8system may, in accordance with the procurement process under section 23B of chapter 32 of the |
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| 39 | 39 | | 9General Laws, divest in whole or in part from any investment in fossil fuel companies. In |
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| 40 | 40 | | 10accordance with this section, the board of an independent retirement system may, after following 2 of 2 |
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| 41 | 41 | | 11the procurement process under said section 23B of said chapter 32, invest in index funds or other |
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| 42 | 42 | | 12investment vehicles that may not include fossil fuel companies. |
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| 43 | 43 | | 13 SECTION 2. This act shall take effect upon its passage. |
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