Kentucky
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Senate Bill 205

Actions | Amendments

Last Action	04/08/22: signed by Governor (Acts Ch. 120)
Title	AN ACT relating to state dealings with companies that engage in energy company boycotts.
Bill Documents	Acts Chapter 120 Current/Final Introduced
Fiscal Impact Statements	Actuarial Analysis Additional Fiscal Impact Statements Exist
Bill Request Number	1560
Sponsors	R. Mills, R. Girdler, R. Alvarado, J. Carpenter, D. Carroll, B. Smith, B. Storm, P. Wheeler
Summary of Original Version	Create new sections of KRS Chapter 41 to declare findings regarding the financial harms of boycotting energy companies for dealing in fossil-fuel based energy; define terms; require the State Treasurer to publish, maintain, and update a list of financial companies engaged in energy company boycotts and to file the list with the Legislative Research Commission and the Attorney General; require state governmental entities to notify the Treasurer of the listed financial companies in which the state governmental entity owns direct or indirect holdings; require state governmental entities to inform and warn listed financial companies that they may become subject to divestment by the state governmental agency unless they clarify their actions or cease their energy company boycott; require state governmental entities to divest from the listed financial company if it does not cease its energy company boycott in the timeframes established by the section; provide for delays in the divestment schedule if it will result in a loss of value or a benchmark deviation; require for delays in divestment to be reported to the Treasurer, the Legislative Research Commission, and the Attorney General; provide that a state governmental entity shall not be required to divest from any holdings in actively or passively managed investment funds or private equity funds; provide for exceptions from divestment requirements; require that beginning on December 1, 2023, and each December 1 thereafter, each state governmental agency shall file a report with the Treasurer, the Attorney General, and the Legislative Research Commission identifying the divestments it made and the investments prohibited under the Act; allow the Attorney General or the Treasurer to enforce Sections 1 to 4 and 5 of the Act; prohibit a governmental entity from entering into a contract for goods or services with a company that engages in energy company boycotts; provide exceptions; amend KRS 286.2-015 to conform.
Index Headings of Original Version	Treasurer - State governmental agencies, companies engaging in energy company boycott, divestment Treasurer - State governmental agencies, companies engaging in energy company boycott, duties Actuarial Analysis - State governmental agencies, companies engaging in energy company boycott, divestment Attorney General - State governmental agencies, companies engaging in energy company boycott, divestment Reports Mandated - State governmental agencies, companies engaging in energy company boycott, divestment Energy - State governmental agencies, companies engaging in energy company boycott, divestment Environment and Conservation - State governmental agencies, companies engaging in energy company boycott, divestment Financial Responsibility - State governmental agencies, companies engaging in energy company boycott, divestment Legislative Research Commission - Financial companies engaged in energy company boycott, report Retirement and Pensions - State governmental agencies, companies engaging in energy company boycott, divestment Securities - State governmental agencies, companies engaging in energy company boycott, divestment State Agencies - State governmental agencies, companies engaging in energy company boycott, divestment
Jump to Proposed Amendments	Senate Committee Substitute 1 with Fiscal Impact Statements House Committee Substitute 1 with Fiscal Impact Statements
Votes	Vote History

Actions

Top | Amendments

02/22/22	introduced in Senate to Committee on Committees (S)
02/24/22	to Natural Resources & Energy (S)
03/02/22	reported favorably, 1st reading, to Calendar with Committee Substitute (1)
03/03/22	2nd reading, to Rules posted for passage in the Regular Orders of the Day for Monday, March 07, 2022
03/07/22	3rd reading, passed 26-5 with Committee Substitute (1)
03/08/22	received in House to Committee on Committees (H)
03/16/22	to Natural Resources & Energy (H)
03/21/22	taken from Natural Resources & Energy (H) 1st reading returned to Natural Resources & Energy (H)
03/22/22	taken from Natural Resources & Energy (H) 2nd reading returned to Natural Resources & Energy (H)
03/24/22	reported favorably, to Rules with Committee Substitute (1) taken from Rules placed in the Orders of the Day 3rd reading, passed 73-22 with Committee Substitute (1)
03/25/22	received in Senate to Rules (S)
03/29/22	posted for passage for concurrence in House Committee Substitute (1) Senate concurred in House Committee Substitute (1) passed 29-6
03/30/22	enrolled, signed by President of the Senate enrolled, signed by Speaker of the House delivered to Governor
04/08/22	signed by Governor (Acts Ch. 120)

Proposed Amendments

Top | Actions

Amendment	Senate Committee Substitute 1
Fiscal Impact Statement	Actuarial Analysis to Senate Committee Substitute 1
Summary	Retain original provisions; provide that the Treasurer have knowledge that a financial company is engaging in energy company boycotts for it to be listed; provide that receipt of the list of financial companies engaging in energy company boycotts by state governmental entities be presumed upon publication of the list on the Treasurer's Web site; provide that financial companies engaging in energy company boycotts be delisted when the Treasurer is made aware of the cessation of the boycotts.
Index Headings	Energy - State governmental agencies, companies engaging in energy company boycott, divestment Environment and Conservation - State governmental agencies, companies engaging in energy company boycott, divestment Financial Responsibility - State governmental agencies, companies engaging in energy company boycott, divestment Legislative Research Commission - Financial companies engaged in energy company boycott, report Retirement and Pensions - State governmental agencies, companies engaging in energy company boycott, divestment Securities - State governmental agencies, companies engaging in energy company boycott, divestment State Agencies - State governmental agencies, companies engaging in energy company boycott, divestment Treasurer - State governmental agencies, companies engaging in energy company boycott, divestment Treasurer - State governmental agencies, companies engaging in energy company boycott, duties Attorney General - State governmental agencies, companies engaging in energy company boycott, divestment Reports Mandated - State governmental agencies, companies engaging in energy company boycott, divestment Actuarial Analysis - State governmental agencies, companies engaging in energy company boycott, divestment

Amendment	House Committee Substitute 1
Fiscal Impact Statement	Actuarial Analysis to House Committee Substitute 1
Summary	Retain provisions of SB 205/GA; specify that the Attorney General or the Treasurer may bring any civil action necessary to enforce the Act; change the definition of "governmental entity" so that it only includes state executive branch entities.
Index Headings	Energy - Companies engaging in energy company boycotts, state governmental entities, definition State Agencies - Companies engaging in energy company boycotts, state governmental entities, definition Treasurer - State governmental agencies, companies engaging in energy company boycott, civil action enforcement Attorney General - State governmental agencies, companies engaging in energy company boycott, civil action enforcement

Last updated: 2/8/2023 2:57 PM (EST)