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ND SB2291
Bill
Status
3/24/2021
Primary Sponsor
Jessica Unruh Bell
Click for details
AI Summary
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Prohibits the state investment board from making social investments (investments based on socially responsible criteria rather than maximized returns) unless the investment provides an equivalent or superior rate of return, with exceptions for legacy fund investments.
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Requires the Department of Commerce to study environmental social governance criteria used by government and private industry during the 2021-22 interim period.
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Mandates the study evaluate state investment policies, involvement with companies using environmental social governance criteria, and potential implications of boycotts targeting energy production, natural gas, oil, coal, petrochemicals, and agricultural commodities.
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Directs the Department of Commerce to report findings and recommendations to legislative management by June 1, 2022.
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Declares the act an emergency measure; passed by Senate vote of 42-4-1 and House vote of 82-12-0.
Legislative Description
Social investments made by the state investment board; to provide for a department of commerce study of the implications of complete divestment of companies that boycott energy or commodities; to provide for reports to legislative management; and to declare an emergency.
Last Action
Signed by Governor 03/23
3/24/2021