Legislation

Title: State Retirement and Pension System - Investment Climate Risk - Fiduciary Duties
Sponsored by: Delegate Lierman (Chair, Joint Committee on Pensions)
Status: Enacted under Article II, Section 17(b) of the Maryland Constitution - Chapter 24
Analysis: Fiscal and Policy Note

Synopsis

Requiring a fiduciary of the State Retirement and Pension System to consider certain climate risks on the System's assets; requiring a climate risk assessment to include a certain review of the System's investment portfolio to determine the level of climate risk across certain sectors and asset classes, identification of investment opportunities in certain energy sectors, a process for regular reassessment of certain impact of climate risk, and utilization of the best data and practices for climate risk analyses; etc.

Committees

Original:: Appropriations Click to view Recorded Media

Opposite:: Budget and Taxation

Committee Testimony

Witness List

Details

Cross-filed with: SB0566

Bill File Type: Regular

Effective Date(s): June 1, 2022

History

Legislation History
Chamber House Calendar Date 2/03/2022 Legislative Date 2/03/2022 Action First Reading Appropriations Proceedings
Chamber House Calendar Date 2/03/2022 Legislative Date 2/03/2022 Action Hearing 2/22 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Text - First - State Retirement and Pension System - Investment Climate Risk - Fiduciary Duties Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Appropriations Proceedings Click to view Recorded Media
Chamber House Calendar Date 3/07/2022 Legislative Date 3/07/2022 Action Favorable Report by Appropriations Proceedings
Chamber House Calendar Date 3/08/2022 Legislative Date 3/02/2022 Action Favorable Adopted Proceedings 23 Click to view Recorded Media
Chamber House Calendar Date 3/08/2022 Legislative Date 3/02/2022 Action Second Reading Passed Proceedings 23 Click to view Recorded Media
Chamber House Calendar Date 3/08/2022 Legislative Date 3/02/2022 Action Motion Reconsider Second Reading (Delegate Chisholm) Adopted Proceedings 23 Click to view Recorded Media
Chamber House Calendar Date 3/08/2022 Legislative Date 3/02/2022 Action Motion Special Order until 3/9 (Delegate Chisholm) Adopted Proceedings 23 Click to view Recorded Media
Chamber House Calendar Date 3/09/2022 Legislative Date 3/03/2022 Action Floor Amendment {323124/1 (Delegate Chisholm) Rejected (47-82) Proceedings 24 Click to view Recorded Media
Chamber House Calendar Date 3/09/2022 Legislative Date 3/03/2022 Action Second Reading Passed Proceedings 24 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - State Retirement and Pension System - Investment Climate Risk - Fiduciary Duties Proceedings
Chamber House Calendar Date 3/11/2022 Legislative Date 3/05/2022 Action Third Reading Passed (94-41) Proceedings 26 Click to view Recorded Media
Chamber Senate Calendar Date 3/14/2022 Legislative Date 3/02/2022 Action Referred Budget and Taxation Proceedings 42 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Budget and Taxation Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 3/30/2022 Legislative Date 3/30/2022 Action Favorable Report by Budget and Taxation Proceedings
Chamber Senate Calendar Date 3/30/2022 Legislative Date 3/18/2022 Action Favorable Adopted Proceedings 58 Click to view Recorded Media
Chamber Senate Calendar Date 3/30/2022 Legislative Date 3/18/2022 Action Second Reading Passed Proceedings 58 Click to view Recorded Media
Chamber Senate Calendar Date 3/31/2022 Legislative Date 3/19/2022 Action Third Reading Passed (33-14) Proceedings 59 Click to view Recorded Media
Chamber House Calendar Date 3/31/2022 Legislative Date 3/25/2022 Action Returned Passed Proceedings 46 Click to view Recorded Media
Chamber Post Passage Calendar Date 4/09/2022 Legislative Date 4/09/2022 Action Enacted under Article II, Section 17(b) of the Maryland Constitution - Chapter 24 Proceedings
Chamber Calendar Date Legislative Date Action Text - Chapter - State Retirement and Pension System - Investment Climate Risk - Fiduciary Duties Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	2/03/2022	2/03/2022	First Reading Appropriations
House	2/03/2022	2/03/2022	Hearing 2/22 at 1:00 p.m.
			Text - First - State Retirement and Pension System - Investment Climate Risk - Fiduciary Duties
			Vote - House - Committee - Appropriations	Click to view Recorded Media
House	3/07/2022	3/07/2022	Favorable Report by Appropriations
House	3/08/2022	3/02/2022	Favorable Adopted	23 Click to view Recorded Media
House	3/08/2022	3/02/2022	Second Reading Passed	23 Click to view Recorded Media
House	3/08/2022	3/02/2022	Motion Reconsider Second Reading (Delegate Chisholm) Adopted	23 Click to view Recorded Media
House	3/08/2022	3/02/2022	Motion Special Order until 3/9 (Delegate Chisholm) Adopted	23 Click to view Recorded Media
House	3/09/2022	3/03/2022	Floor Amendment {323124/1 (Delegate Chisholm) Rejected (47-82)	24 Click to view Recorded Media
House	3/09/2022	3/03/2022	Second Reading Passed	24 Click to view Recorded Media
			Text - Third - State Retirement and Pension System - Investment Climate Risk - Fiduciary Duties
House	3/11/2022	3/05/2022	Third Reading Passed (94-41)	26 Click to view Recorded Media
Senate	3/14/2022	3/02/2022	Referred Budget and Taxation	42 Click to view Recorded Media
			Vote - Senate - Committee - Budget and Taxation	Click to view Recorded Media
Senate	3/30/2022	3/30/2022	Favorable Report by Budget and Taxation
Senate	3/30/2022	3/18/2022	Favorable Adopted	58 Click to view Recorded Media
Senate	3/30/2022	3/18/2022	Second Reading Passed	58 Click to view Recorded Media
Senate	3/31/2022	3/19/2022	Third Reading Passed (33-14)	59 Click to view Recorded Media
House	3/31/2022	3/25/2022	Returned Passed	46 Click to view Recorded Media
Post Passage	4/09/2022	4/09/2022	Enacted under Article II, Section 17(b) of the Maryland Constitution - Chapter 24
			Text - Chapter - State Retirement and Pension System - Investment Climate Risk - Fiduciary Duties

File Code

Subjects

Statutes