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Committee advances bill to require labor standards on projects financed by public pensions amid housing, fiduciary concerns
Summary
AB 1439 (Garcia) passed the committee and was referred to Appropriations 5–0 after lengthy debate: supporters urged stronger labor protections for projects financed by public pension funds; opponents—including county retirement systems and building industry groups—warned the bill could conflict with fiduciary duties, raise costs, and chill housing production.
The Assembly Committee on Public Employment and Retirement voted to pass AB 1439 (Garcia) out of committee and refer it to Appropriations after an extended hearing that divided labor organizations and many representatives of pension systems, counties and the building industry.
Assemblymember Garcia, sponsor of AB 1439, said the bill seeks to require state and local public pension systems to invest in or finance California development projects only if those projects include specified labor protections—such as prevailing wages, skilled-apprenticeship participation, and labor neutrality—arguing current Responsible Contractor Policies (RCPs) for CalPERS and CalSTRS…
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