2022 Regular SessionMaryland Legislature

HB740: State Retirement and Pension System - Investment Climate Risk - Fiduciary Duties

Legislative Summary

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.

Demographic Impact

Overall analysis of equity impact

80% Positive
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Bill History

2/3/2022
First Reading Appropriations
House of Delegates
2/3/2022
Hearing 2/22 at 1:00 p.m.
House of Delegates
3/7/2022
Favorable Report by Appropriations
House of Delegates
3/8/2022
Favorable Adopted
House of Delegates
3/8/2022
Second Reading Passed
House of Delegates
3/8/2022
Motion Reconsider Second Reading (Delegate Chisholm) Adopted
House of Delegates
3/8/2022
Motion Special Order until 3/9 (Delegate Chisholm) Adopted
House of Delegates
3/9/2022
Floor Amendment {323124/1 (Delegate Chisholm) Rejected (47-82)
House of Delegates
3/9/2022
Second Reading Passed
House of Delegates
3/11/2022
Third Reading Passed (94-41)
House of Delegates
3/14/2022
Referred Budget and Taxation
Senate
3/30/2022
Favorable Report by Budget and Taxation
Senate
3/30/2022
Favorable Adopted
Senate
3/30/2022
Second Reading Passed
Senate
3/31/2022
Third Reading Passed (33-14)
Senate
3/31/2022
Returned Passed
House of Delegates
4/9/2022
Enacted under Article II, Section 17(b) of the Maryland Constitution - Chapter 24
House of Delegates

Amendments

Floor Amendment 323124/1 (Delegate Chisholm) Rejected (47-82)

Floor Amendment 323124/1 (Delegate Chisholm) Rejected (47-82)

3/9/2022Not Adopted

Roll Call Votes

Third Reading Passed
3/31/2022
33
Yea
14
Nay
0
Not Voting
0
Absent
Result: PASSED
Third Reading Passed
3/11/2022
94
Yea
41
Nay
1
Not Voting
5
Absent
Result: PASSED
Floor Amendment 323124/1 (Delegate Chisholm) Rejected
3/9/2022
47
Yea
82
Nay
6
Not Voting
6
Absent
Result: FAILED

Status Information

Current Status
Passed(4/9/2022)
Chamber
House of Delegates
Sine Die

Sponsors

Democrat: 1

Primary Sponsor

Brooke Lierman
Brooke Lierman
Democrat

Documents

Chaptered
Bill Text4/22/2022102.2 KB
Engrossed
Bill Text3/9/2022113.3 KB
Introduced
Bill Text2/4/2022110.0 KB
Vote Image
Vote Image1/1/197034.4 KB