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Rep. Ann M. Williams
Filed: 3/16/2023
| | 10300HB2782ham001 | | LRB103 30690 DTM 59161 a |
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| 1 | | AMENDMENT TO HOUSE BILL 2782
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| 2 | | AMENDMENT NO. ______. Amend House Bill 2782 on page 5 by |
| 3 | | replacing lines 9 through 26 with the following:
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| 4 | | "(e) Beginning January 1, 2024, investment managers shall |
| 5 | | disclose, prior to the award of a contract, a description of |
| 6 | | any process through which the manager prudently integrates the |
| 7 | | sustainability factors described in subsection (b) into their |
| 8 | | investment decision-making, investment analysis, portfolio |
| 9 | | construction, due diligence, and investment ownership in order |
| 10 | | to maximize anticipated risk-adjusted financial returns, |
| 11 | | identify projected risk, and execute the manager's fiduciary |
| 12 | | duties. Investment managers shall provide this disclosure to |
| 13 | | each public agency, pension fund, retirement system, or |
| 14 | | governmental unit for whom the investment manager is seeking |
| 15 | | selection as a fiduciary before acting in this official |
| 16 | | capacity.".
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