CA AB1439

Requires CalPERS and CalSTRS boards to contract with University of California Labor Centers to study the impacts of prohibiting pension fund investments in California development projects that lack labor standards protections

Study and findings report must be completed and submitted to the Legislature and Department of Finance by January 1, 2028

Defines "labor standards protections" as prevailing wage requirements, apprenticeship standards, use of skilled and trained workforce, and labor peace commitments during union organizing campaigns

Boards are not required to take any action unless they determine in good faith it is consistent with their fiduciary responsibilities under the California Constitution

Bill was amended from directly prohibiting such investments to instead requiring a study of the potential impacts of such a prohibition