An Act relative to pension divestment from the Republic of the Union of Myanmar

HD 489 requires Massachusetts public pension funds (specifically the Pension Reserves Investment Trust) to divest from companies conducting significant business operations in Myanmar. The bill mandates identifying "scrutinized companies" through third-party research within 90 days, then selling all direct and indirect holdings in these companies within 12 months (50% within 6 months), excluding those providing humanitarian aid or exempted by U.S. sanctions. Key exemptions include companies solely engaged in humanitarian assistance and those excluded from U.S. Myanmar sanctions. The law applies to companies with $10 million+ investments in Myanmar's resource sectors (petroleum, gems, IT, insurance) since February 2021.