Vote Smart's Synopsis:

Vote to pass a bill that requires the state's teachers and employee retirement fund divest from fossil fuels.

Highlights:

• Prohibits the board of the Public Employees Retirement System and State Teachers Requirement System from making new investments or renewing existing ones in thermal coal companies and to liquidate all existing fuel investments (Sec. 1).

• Specifies that the boards may file for a suspension of the process if material need is demonstrated and in good faith (Sec. 1). 

• Requires the state boards to file a report to the legislature and the governor containing specified information including a list of fossil fuel companies of which the board has liquidated their assets (Sec. 1). 

• Specifies that board members and other officers and employees shall be held harmless and be eligible for indemnification in  connection with actions taken in the implementation of the above policies (Sec. 1).

Full Bill Text