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HOUSE DOCKET, NO. 1887 FILED ON: 1/15/2025
HOUSE . . . . . . . . . . . . . . . No. 3206
The Commonwealth of Massachusetts
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PRESENTED BY:
Steven Owens
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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 relative to fossil fuel free 529s.
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PETITION OF:
NAME:DISTRICT/ADDRESS :DATE ADDED:Steven Owens29th Middlesex1/15/2025Patricia A. Duffy5th Hampden1/23/2025Danillo A. Sena37th Middlesex1/27/2025Joanne M. ComerfordHampshire, Franklin and Worcester1/29/2025Mindy Domb3rd Hampshire2/11/2025 1 of 2
HOUSE DOCKET, NO. 1887 FILED ON: 1/15/2025
HOUSE . . . . . . . . . . . . . . . No. 3206
By Representative Owens of Watertown, a petition (accompanied by bill, House, No. 3206) of
Steven Owens and others relative to fossil fuel free investment options within prepaid tuition
programs or college savings programs. Revenue.
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 relative to fossil fuel free 529s.
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. Section 3 of Chapter 62 of the General Laws as appearing in the 2022 official
2edition, is hereby amended by inserting the following 2 definitions:-
3 “Fossil fuel free portfolio", a portfolio that restricts fossil fuel investments to less than
40.25% of its portfolio and has an expense ratio no higher than 1.5 times the median expense ratio
5of all portfolios offered by MEFA. In addition, the fund must clearly state that fossil fuel
6companies are excluded from the fund’s prospectus.
7 “Fossil fuel investments”, companies that own proved or probable carbon reserves or
8engage in or derive revenue from one or more of the following: 1) exploration for coal, oil, or
9gas, 2) extraction of coal, oil, or gas 3) processing of coal, oil, or gas, 4) refining coal, oil, or gas,
105) transmission of coal, oil, or gas, or 6) supplying equipment or services to oil fields or offshore
11drilling platforms.
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13 Section 2. Section 3 of Chapter 62 of the General Laws as appearing in the 2022 official
14edition is hereby amended by striking out, in lines 152 through 154 the words “a prepaid tuition
15program or college savings program established by the commonwealth or an instrumentality or
16authority of the commonwealth” and inserting in place thereof, the following:-
17 “a prepaid tuition program or college savings program established by the commonwealth
18or an instrumentality or authority of the commonwealth, or any “fossil fuel free” investment
19option within a prepaid tuition program or college savings program that is not otherwise
20available under a program established by the commonwealth”.