2022 Regular SessionMaryland Legislature

SB1005: State Retirement and Pension System - Divestment From Russia

Legislative Summary

Requiring the Board of Trustees for the State Retirement and Pension System to review investment holdings in certain eligible accounts to determine the extent to which funds are invested in Russia-restricted investments; requiring the Board of Trustees to take certain divestment actions; prohibiting the Board of Trustees from making certain new investments; providing certain immunities from liability for certain persons; requiring the Board of Trustees to act in good faith in taking certain actions in a certain manner; etc.

Demographic Impact

Overall analysis of equity impact

70% Positive
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Bill History

2/25/2022
First Reading Senate Rules
Senate
3/9/2022
Rereferred to Budget and Taxation
Senate
3/10/2022
Hearing 3/11 at 10:45 a.m.
Senate
3/10/2022
Hearing canceled
Senate
3/10/2022
Hearing 3/11 at 12:45 p.m.
Senate
3/14/2022
Favorable Report by Budget and Taxation
Senate
3/15/2022
Favorable Adopted
Senate
3/15/2022
Floor Amendment {233626/1 (Senator Zucker) Adopted
Senate
3/15/2022
Second Reading Passed with Amendments
Senate
3/17/2022
Third Reading Passed (46-0)
Senate
3/18/2022
Referred Appropriations
House of Delegates
3/20/2022
Hearing 3/22 at 1:00 p.m.
House of Delegates
3/22/2022
Hearing canceled
House of Delegates
3/22/2022
Hearing 3/22 at 1:40 p.m.
House of Delegates
4/5/2022
Favorable Report by Appropriations
House of Delegates
4/5/2022
Favorable Adopted Second Reading Passed
House of Delegates
4/6/2022
Third Reading Passed (133-0)
House of Delegates
4/7/2022
Returned Passed
Senate
5/12/2022
Approved by the Governor - Chapter 343
Senate

Amendments

Floor Amendment 233626/1 (Senator Zucker) Adopted

Floor Amendment 233626/1 (Senator Zucker) Adopted

3/15/2022Adopted

Roll Call Votes

Third Reading Passed
4/6/2022
133
Yea
0
Nay
1
Not Voting
7
Absent
Result: PASSED
Third Reading Passed
3/17/2022
46
Yea
0
Nay
0
Not Voting
1
Absent
Result: PASSED