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Missouri Senate Bill SB338

Missouri 2025 Regular Session

Missouri Senate Bill SB338 Compare Versions

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22 FIRST REGULAR SESSION
33 SENATE BILL NO. 338
44 103RD GENERAL ASSEMBLY
55 INTRODUCED BY SENATOR MOON.
66 1057S.01I KRISTINA MARTIN, Secretary
77 AN ACT
88 To amend chapters 30 and 34, RSMo, by adding thereto two new sections relating to public
99 contracts, with a severability clause.
1010
1111 Be it enacted by the General Assembly of the State of Missouri, as follows:
1212 Section A. Chapters 30 and 34, RSMo, ar e amended by adding 1
1313 thereto two new sections, to be known as sections 30.620 and 2
1414 34.715, to read as follows:3
1515 30.620. 1. For the purposes of this section, the 1
1616 following terms mean: 2
1717 (1) "Banking contract", a contract entered into by the 3
1818 state treasurer and a financial institution to provide 4
1919 banking goods or services; 5
2020 (2) "Boycott", performing any of the following acts 6
2121 without a reasonable business purpose: 7
2222 (a) Refusing to deal with a company; 8
2323 (b) Terminating business activi ties with a company; or 9
2424 (c) Any other action that is intended to penalize, 10
2525 inflict economic harm on, or limit commercial relations with 11
2626 a company because the company: 12
2727 a. Engages in the exploration, production, 13
2828 utilization, transportation, sa le, or manufacturing of 14
2929 fossil fuel-based energy, timber, mining, or agriculture; 15
3030 b. Engages in the exploration, production, 16
3131 utilization, transportation, sale, or manufacturing of 17
3232 fossil fuel-based energy and does not commit or pledge to 18 SB 338 2
3333 meet environmental standards beyond applicable federal and 19
3434 state law; or 20
3535 c. Does business with a company that engages in the 21
3636 exploration, production, utilization, transportation, sale, 22
3737 or manufacturing of fossil fuel -based energy; 23
3838 (3) "Company", any sole proprietorship, organization, 24
3939 association, corporation, partnership, joint venture, 25
4040 limited partnership, limited liability partnership, limited 26
4141 liability company, or other entity or business association, 27
4242 including all wholly owned subsidiaries, m ajority-owned 28
4343 subsidiaries, parent companies, or affiliates of those 29
4444 entities or business associations, that exist for the 30
4545 purpose of making profit; 31
4646 (4) "Financial institution", a bank, national banking 32
4747 association, non-bank financial institution , a bank and 33
4848 trust company, a trust company, a savings and loan 34
4949 association, a building and loan association, a mutual 35
5050 savings bank, a credit union, or a savings bank; 36
5151 (5) "Reasonable business purpose", includes any 37
5252 purpose directly related to: 38
5353 (a) Promoting the financial success or stability of a 39
5454 financial institution; 40
5555 (b) Mitigating risk to a financial institution; 41
5656 (c) Complying with legal or regulatory requirements; or 42
5757 (d) Limiting liability of a financial institution; 43
5858 (6) "Restricted financial institution", a financial 44
5959 institution included in the most recently updated restricted 45
6060 financial institution list; 46
6161 (7) "Restricted financial institution list", the list 47
6262 of financial institutions prepared, maintained , and 48
6363 published pursuant to this section. 49 SB 338 3
6464 2. (1) The state treasurer shall create and maintain 50
6565 a restricted financial institution list containing the names 51
6666 of financial institutions that are engaged in a boycott. 52
6767 The list shall be used by the s tate treasurer for the 53
6868 purpose of determining which financial institutions to enter 54
6969 into a banking contract with. 55
7070 (2) The state treasurer shall publicly post the 56
7171 restricted financial institution list on the state 57
7272 treasurer's website and submit a copy of the list to the 58
7373 governor, the president pro tempore of the senate, and the 59
7474 speaker of the house of representatives. 60
7575 (3) A citation to this section and a brief summary of 61
7676 the purpose of the list shall appear at the top of the list, 62
7777 including a statement that inclusion on the list is not an 63
7878 indication of unsafe or unsound operating conditions of any 64
7979 financial institution nor any risk to consumer deposits. 65
8080 (4) The state treasurer shall update the restricted 66
8181 financial institution list annually, or more often if the 67
8282 state treasurer considers it necessary. 68
8383 3. (1) At least forty-five days prior to including a 69
8484 financial institution on the restricted financial 70
8585 institution list, the state treasurer shall send a written 71
8686 notice to the institution containing the following 72
8787 information: 73
8888 (a) That the state treasurer has determined that the 74
8989 financial institution is a restricted financial institution; 75
9090 (b) That the financial institution shall be placed on 76
9191 the restricted finan cial institution list in forty -five days 77
9292 unless, within thirty days following the receipt of the 78
9393 written notice, the financial institution demonstrates that 79
9494 it is not engaged in a boycott; 80 SB 338 4
9595 (c) That the restricted financial institution list is 81
9696 published on the state treasurer's website; and 82
9797 (d) That the financial institution's placement on the 83
9898 list may render the financial institution ineligible to 84
9999 enter into, or remain in, banking contracts with the state. 85
100100 (2) Following a financial i nstitution's inclusion on 86
101101 the restricted financial institution list, the state 87
102102 treasurer shall remove the financial institution from the 88
103103 list if the financial institution demonstrates that it has 89
104104 ceased all boycotts. 90
105105 4. (1) In determining whethe r to include a financial 91
106106 institution on the restricted financial institution list, 92
107107 the state treasurer shall consider and may rely upon the 93
108108 following information: 94
109109 (a) A financial institution's certification that it is 95
110110 not engaged in a boycott; 96
111111 (b) Publicly available statements or information made 97
112112 by the financial institution, including statements by a 98
113113 member of a financial institution's governing body, an 99
114114 executive director of a financial institution, or any other 100
115115 officer or employee of the financial institution with the 101
116116 authority to issue policy statements on behalf of the 102
117117 financial institution; or 103
118118 (c) Information published by a state or federal 104
119119 government entity. 105
120120 (2) In determining whether to include a financial 106
121121 institution on the restricted financial institution list, 107
122122 the state treasurer may not rely solely on the following 108
123123 information: 109
124124 (a) Statements or complaints by a company; or 110
125125 (b) Media reports of a financial institution's boycott. 111 SB 338 5
126126 (3) A financial institution may not be compelled to 112
127127 produce or disclose any data or information deemed 113
128128 confidential, privileged, or otherwise protected from 114
129129 disclosure by state or federal law. 115
130130 5. (1) In selecting a financial institution to enter 116
131131 into a banking contract, the state treasurer may disqualify 117
132132 restricted financial institutions from the competitive 118
133133 bidding process or from any other official selection process. 119
134134 (2) The state treasurer may refuse to enter into a 120
135135 banking contract or an extension of any banking contract 121
136136 with a restricted financial institution based on its 122
137137 restricted financial institution status. 123
138138 (3) The state treasurer may require, as a term of any 124
139139 banking contract, an agreement by the financial institution 125
140140 not to engage in a boycott for the duration of the contract. 126
141141 6. With respect to actions taken in compliance with 127
142142 this section, a public body, public official, public 128
143143 employee, or member or employee of a financial institution 129
144144 shall be immune from any liability. 130
145145 7. No party may take action to penalize or threaten to 131
146146 penalize any financial institution for compliance with this 132
147147 section. Any party taking such action shall have caused 133
148148 harm to this state, including by interfering with the 134
149149 state's sovereign interests in administering its programs 135
150150 and with the state's commercial relationships with financial 136
151151 institutions. 137
152152 8. Any contract subject to this section may be 138
153153 enforced by the attorney general. The attorney general may 139
154154 investigate possible viol ations of this section in the same 140
155155 manner as investigative authority is exercised pursuant to 141
156156 section 407.040. 142 SB 338 6
157157 9. In addition to any other remedies available at law 143
158158 or equity, a company that provides false information to the 144
159159 state treasurer and l ater receives state monies, or violates 145
160160 a contractual agreement with the state not to engage in a 146
161161 boycott, shall be obligated to pay a civil penalty to the 147
162162 state in an amount equal to three times all monies paid to 148
163163 the company by the state for the comp any's goods or services. 149
164164 34.715. 1. The state, any agency of the state, any 1
165165 political subdivision of the state, or any instrumentality 2
166166 thereof, when engaged in procuring or letting contracts for 3
167167 any purpose shall ensure that bidders , offerors, 4
168168 contractors, or subcontractors are not given preferential 5
169169 treatment or discriminated against based on an 6
170170 environmental, social, and governance score. 7
171171 2. For purposes of this section, the term 8
172172 "environmental, social, and governance sco re" means an 9
173173 evaluation conducted by an entity that takes into 10
174174 consideration one or more of the following: 11
175175 (1) Whether the bidder, offeror, contractor, or 12
176176 subcontractor engages in the exploration, production, 13
177177 utilization, transportation, sale, or manufacturing of 14
178178 fossil fuel-based energy and does not commit or pledge to 15
179179 meet environmental standards beyond applicable state and 16
180180 federal law; 17
181181 (2) Whether the bidder, offeror, contractor, or 18
182182 subcontractor engages in production agriculture; 19
183183 (3) Whether the bidder, offeror, contractor, or 20
184184 subcontractor spends funds on social welfare; 21
185185 (4) The wages and working hours of the employees of 22
186186 the bidder, offeror, contractor, or subcontractor; and 23
187187 (5) The environmental policies of the bidder, offeror, 24
188188 contractor, or subcontractor. 25 SB 338 7
189189 Section B. If any provision of section A of this act 1
190190 or the application thereof to anyone or to any circumstance 2
191191 is held invalid, the remainder of those sections and the 3
192192 application of such provisions to others or other 4
193193 circumstances shall not be affected thereby. 5
194194