The California Constitution grants the retirement board of a public employee retirement system plenary authority and fiduciary responsibility for investment of moneys and administration of the retirement fund and system. The California Constitution qualifies this grant of powers by reserving to the Legislature the authority to prohibit investments if it is in the public interest and the prohibition satisfies standards of fiduciary care and loyalty required of a retirement board. Existing law prohibits the board of administration of the Public Employees' Retirement System (PERS) from making investments in certain countries and in thermal coal companies, as specified, subject to the board's plenary authority and fiduciary responsibility for investment of moneys and administration of the system. Existing law requires the state to indemnify and hold harmless the present, former, and future board members, officers, and employees of PERS for investment decisions regarding specified business operations. This bill would require the board of administration of PERS, by July 1, 2019, to adopt an investment policy regarding companies that are retailers or wholesalers of banned weapons, based on a limited timeframe of engagement seeking the voluntary removal of banned weapons from the stock of items sold by these companies. The bill would require the board, if unsuccessful in persuading the governing board of a company to cease in the sale of banned weapons, to adopt a divestment action and divest from that company by no later than July 1, 2021. The bill would also require the board, if a company reinitiates the sale of banned weapons after voluntarily choosing to cease sales, to initiate action to divest within 60 days of that decision. The bill would not require the board to take any above-described action unless it determines that the action is consistent with its fiduciary responsibilities. The bill would specify that board members and other officers and employees would be indemnified and held harmless in connection with actions taken pursuant to the bill's requirements.
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Existing law sets forth various programs for the enforcement of environmental protection. Existing law makes legislative findings and declarations that it is in the public interest to provide the people of the state through the Attorney General with adequate remedy to protect the natural resources of the state from pollution, impairment, or destruction. Existing law authorizes the Attorney General to intervene in any judicial or administrative proceeding in which facts are alleged concerning pollution or adverse environmental effects that could affect the public generally. This bill would create the Environmental Justice Fund, into which the Attorney General would be authorized to deposit moneys from various special funds, settlements, and penalties, as specified. The bill would require that the fund be used, upon appropriation by the Legislature, by the Attorney General to provide additional support for investigations and litigation intended to protect communities that endure a disproportionate share of environmental pollution and to promote the fair treatment of people of all races, cultures, and incomes with respect to the implementation and enforcement of environmental laws, regulations, and policies.
This measure would urge the Congress and the President to pass legislation that would allow financial institutions to provide services to the cannabis industry.
This measure would declare the week of May 13 to May 19, 2018, inclusive, as Food Allergy Awareness Week, and encourage Californians to increase their understanding and awareness of food allergies and anaphylaxis.
This measure would designate the month of May 2018 as California Fairgrounds Appreciation Month and would extend the Legislature's warmest regards and appreciation to the thousands of volunteers, fair directors, staff, business supporters, and sponsors who keep the network of California state fairgrounds strong, vibrant, relevant, and successful.
This measure would declare the week of May 20, 2018, to May 26, 2018, inclusive, to be Emergency Medical Services Week in California.
This measure would proclaim the week of May 6 to 12, 2018, inclusive, as California Wildfire Awareness Week, and May 7, 2018, as California Master Mutual Aid Awareness Day. The measure would commemorate the contributions of first responders to a series of natural disasters in 2017 and recognize the contributions that California's mutual aid disaster response system made in reducing the loss of life and property from these disasters.
This measure would acknowledge the Muslim holy month of Ramadan and express the Legislature's respect to Muslims across California and throughout the world on this occasion.