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HB23-1092: Concerning Limitations on the Use of State Money
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Introduced, but did not pass in the 2023 legislative session
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Legislation
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Restrict Use of ESG Factors; Focus on Pecuniary Characteristics
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■ Prohibits assets held by PERA and the state treasurer from being used to further certain social, political, or ideological interests beyond what the controlling state and federal law require. Requires both to make investments based solely on financial factors.
■ Requires a government contract to include a verification that a company entering into a government contract does not, and will not during the term of the contract, engage in an economic boycott to further certain social, political, or ideological interests.
■ Prohibits a person from penalizing a financial institution for complying with the non-economic boycott verification requirement.
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SB23-026: Financial Institution Discrimination Environmental Criteria
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Introduced, but did not pass in the 2023 legislative session
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Legislation
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Prohibit Discrimination on Basis of Social Credit or ESG Scores
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■ Prohibits financial institutions that do business in Colorado (directly or through a contractor) from discriminating against any person based on environmental criteria, such as a score based on how a person impacts the environment. Treats a financial institution's violation of this prohibition as an unfair or deceptive trade practice.
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