An Act requiring public pension fund divestment from ammunition and firearms
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill would require Massachusetts’ public pension funds to divest, or sell off, investments related to ammunition and firearms manufacturers. The goal is to align the state’s pension funds with ethical and social responsibility considerations. The bill seeks to reduce the state’s financial exposure to companies involved in the production and sale of these products. This legislation mirrors similar proposals in other jurisdictions.
Key provisions
- Public pension funds must divest from companies that manufacture ammunition.
- Public pension funds must divest from companies that manufacture firearms.
- The divestment applies to all public pension funds in Massachusetts.
- The bill aims to reduce the state’s investment in the firearms and ammunition industries.
- It directs the Treasurer and Receiver General to implement the divestment policy.
Who is affected
- Massachusetts Public Pension Funds
- Investors in Massachusetts Public Pension Funds
- Ammunition Manufacturers
- Firearms Manufacturers
- Massachusetts State Government
Notable changes
- This bill mandates a divestment policy for public pension funds, a relatively new approach to ethical investing.
- It specifically targets the ammunition and firearms industries, rather than broader weapons manufacturers.
Bill text
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Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
Cosponsors
Treasurer and Receiver General Deborah B. Goldberg
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