Virginia Retirement System and local retirement systems; fossil fuel divestment, report. (HB645)

Introduced By

Del. Kaye Kory (D-Falls Church) with support from co-patron Sen. Jeremy McPike (D-Dale City)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Virginia Retirement System and local retirement systems; fossil fuel divestment; report. Requires the Virginia Retirement System and local retirement systems to divest from fossil fuel companies by January 1, 2027. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/11/2022Committee
01/11/2022Prefiled and ordered printed; offered 01/12/22 22100318D
01/11/2022Referred to Committee on Appropriations
01/19/2022Assigned App. sub: Compensation and Retirement
01/26/2022Impact statement from VRS (HB645)
01/27/2022Subcommittee recommends passing by indefinitely (6-Y 1-N)
02/15/2022Left in Appropriations

Duplicate Bills

The following bills are identical to this one: SB213.

Comments

Mitchell Bernard writes:

Only a Democrat or a complerte idiot would be in favor of this bill. At a time when almost every sector is hurting - except the fossil fuel sector - why would you divest yourself of your mosrt valuable and appreciating assests? Oh, sure - because you're stupid and think that wind and solar will become more efficient by selling your fossil fuel assests. Here's a better idea - make wind and solar (with efficient and environmentally favorable battery storage) more effective when the wind is not blowing and at night. Then, when they become good investments, let's invest in them!

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