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FL S0302

Bill

Status

Introduced

3/3/2023

Primary Sponsor

Banking and Insurance

Click for details

Origin

Senate

2023 Regular Session

AI Summary

  • Requires the Chief Financial Officer, State Board of Administration, local governments, and retirement system fiduciaries to make investment decisions based solely on "pecuniary factors" (material financial risk and return), prohibiting consideration of social, political, or ideological interests

  • Prohibits state and local government bond issuers from issuing ESG (environmental, social, and governance) bonds or paying for third-party ESG verification services, effective July 1, 2023

  • Declares it an "unsafe and unsound practice" for financial institutions, consumer finance companies, and money services businesses to deny services based on customers' political opinions, religious beliefs, lawful firearm ownership, involvement in fossil fuel industries, or social credit scores

  • Requires qualified public depositories and various financial licensees to submit annual attestations under penalty of perjury confirming compliance with the non-discrimination provisions, with violations enforceable by the Attorney General

  • Prohibits state agencies, local governments, school districts, and universities from considering or giving preference to vendors based on their social, political, or ideological interests when awarding contracts

Legislative Description

Government and Corporate Activism

Last Action

Laid on Table, companion bill(s) passed, see CS/CS/HB 3 (Ch. 2023-28)

4/18/2023

Committee Referrals

Fiscal Policy3/31/2023

Full Bill Text

No bill text available