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Conference considers provisos limiting Treasurer investments tied to ESG or DEI
Summary
Two competing conference provisos would restrict state treasurer investment decisions that consider ESG or DEI factors; the House and Senate offered different language and both versions were carried over.
The conference committee reviewed competing provisos that would limit how the State Treasurer may invest funds under state control. The Senate draft would prohibit investments that consider any factor whose pecuniary effect is not directly tied to maximizing revenue; the House draft explicitly would prohibit investment in funds that incorporate ESG (environmental, social, governance) or DEI criteria.
Both versions were presented to the committee and marked for carryover; the transcript identifies the Senate and House provisos as 117.206 and 117.21 respectively. Conference staff did not announce a final agreement during the session.
Committee members and staff framed the provisions as instructions to the Treasurer’s office governing permissible investment considerations. No final vote or formal adoption was recorded; the question will be resolved in later conference negotiations.
