SB2429sam002 103RD GENERAL ASSEMBLY

Sen. Ram Villivalam

Filed: 3/16/2023

10300SB2429sam002 LRB103 30646 DTM 59160 a

AMENDMENT TO SENATE BILL 2429

AMENDMENT NO. ______. Amend Senate Bill 2429 on page 5 by replacing lines 9 through 26 with the following:

"(e) Beginning January 1, 2024, investment managers shall disclose, prior to the award of a contract, a description of any process through which the manager prudently integrates the sustainability factors described in subsection (b) into their investment decision-making, investment analysis, portfolio construction, due diligence, and investment ownership in order to maximize anticipated risk-adjusted financial returns, identify projected risk, and execute the manager's fiduciary duties. Investment managers shall provide this disclosure to each public agency, pension fund, retirement system, or governmental unit for whom the investment manager is seeking selection as a fiduciary before acting in this official capacity.".