Ash Kalra
- Democratic
- Assemblymember
- District 25
Author
The California Constitution authorizes the Legislature to prohibit, by statute, investments of a retirement board if it is in the public interest to do so and if the prohibition satisfies the board's standards of fiduciary care and loyalty. Existing law prohibits the boards of administration of the Public Employees' Retirement System and the State Teachers' Retirement System from investing funds in a company with active business operations in Sudan, as specified, from investing in a company that has certain business operations in Iran, as specified, and from investing in thermal coal companies, as defined. This bill would require the boards of administration of the Public Employees' Retirement System and the State Teachers' Retirement System to make a specified report, on or before April 1, 2018, to the Legislature and the Governor regarding investments in the Dakota Access Pipeline, as defined. The bill would declare the intent of the Legislature that the boards, on or before April 1, 2018, review and consider factors related to tribal sovereignty and indigenous tribal rights as part of the boards' investment policies related to environmental, social, and governance issues. The bill would provide that it does not require a board to take any action unless the board determines in good faith that the action is consistent with the board's fiduciary responsibilities established in the constitution. The bill would make additional related legislative findings and declarations.
Approved by the Governor.
Chaptered by Secretary of State - Chapter 575, Statutes of 2017.
Enrolled and presented to the Governor at 2:30 p.m.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 46. Noes 28. Page 2916.).
In Assembly. Concurrence in Senate amendments pending. May be considered on or after September 2 pursuant to Assembly Rule 77.
Read third time. Passed. Ordered to the Assembly. (Ayes 24. Noes 14. Page 2339.).
Read second time. Ordered to third reading.
From committee: Be ordered to second reading pursuant to Senate Rule 28.8.
Read second time and amended. Re-referred to Com. on APPR.
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 3. Noes 2.) (July 10).
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 50. Noes 24. Page 1908.)
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 12. Noes 5.) (May 26).
In committee: Set, first hearing. Referred to APPR. suspense file.
Read second time and amended.
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 4. Noes 2.) (April 19).
From committee chair, with author's amendments: Amend, and re-refer to Com. on P.E., R., & S.S. Read second time and amended.
From printer. May be heard in committee January 5.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB20 | HTML |
| 12/05/16 - Introduced | |
| 04/17/17 - Amended Assembly | |
| 04/24/17 - Amended Assembly | |
| 07/12/17 - Amended Senate | |
| 09/07/17 - Enrolled | |
| 10/08/17 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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