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 in companies that manufacture ammunition and firearms. The goal is to align the state’s pension investments with ethical considerations and reduce financial exposure to the firearms industry. This legislation builds upon similar proposals and seeks to promote responsible investment practices within the state’s retirement systems.
Key provisions
- Public pension funds must divest from companies involved in the production of ammunition.
- Public pension funds must divest from companies involved in the production of firearms.
- The divestment applies to all state public pension funds.
- The bill aims to reduce the state’s financial exposure to the firearms industry.
- It aligns investments with ethical considerations regarding gun violence.
- The Treasurer and Receiver General will oversee the implementation of the divestment policy.
Who is affected
- Massachusetts public pension funds
- Investors in Massachusetts public pension funds
- Companies that manufacture ammunition and firearms
- Massachusetts residents who benefit from public pension funds
Notable changes
- This bill mandates a divestment policy for public pension funds, a specific action not currently required.
Bill text
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Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
Cosponsors
Treasurer and Receiver General Deborah B. Goldberg
Arguments
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