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HD 3001

An Act promoting responsible investment

194th Legislature (2025-2026) Introduced by Christine Barber and 1 co-sponsor

HD 3001 requires PRIM to identify all WMD entities, divest within 12 months, ban future WMD investments, and publish lists with annual reporting.

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Bill Summary · HD 3001

Summary: An Act promoting responsible investment (HD 3001)

What this bill is about

An Act promoting responsible investment would require Massachusetts’ Public Fund (the Pension Reserves Investment Management Board, PRIM) to identify and divest from any entities that manufacture or facilitate weapons of mass destruction (WMDs). The bill would prohibit future investments in WMD entities, direct the Board and external asset managers to divest, impose related contracting rules for state agencies, and provide certain legal protections and reporting requirements. The definitions align WMD with the federal definition in 18 U.S.C. 2332a(c).

Key provisions

  • Definitions (Section 1)

    • “WMD” covers devices and weapons defined in U.S. law, including nuclear, chemical, biological, radiological, or toxic/toxin weapons.
    • “WMD Entities” are any entities that manufacture, promote, sell, or facilitate WMDs.
    • “Public Fund” means PRIM (the Pension Reserves Investment Management Board) and related pooled assets.
    • “Investments” includes all direct or indirect holdings and contributions.
    • “Board” refers to the PRIM Board.

  • Identification and public disclosure (Section 2)

    • Within 30 days of the act’s effective date, the Public Fund must identify all WMD Entities in which it holds Investments.
    • A list of such holdings must be filed with the Attorney General and the clerks of the Senate and House; the AG must publish the list to the public within 60 days after filing.

  • Divestment and prohibition on future investments (Section 3)

    • The Public Fund shall not hold Investments in any WMD Entities.
    • All Investments in WMD Entities identified under Section 2 must be sold, redeemed, divested, or withdrawn within 12 months of the act’s effective date.
    • The Board must amend the investment policy to forbid future Investments in WMD Entities and instruct external asset managers to divest or reallocate such holdings to similar funds devoid of WMD exposure.

  • Legal protections (Section 4)

    • Actions taken under this act are shielded from conflicting statutory or common-law obligations, including decisions about asset management and divestment.

  • Indemnification (Section 5)

    • Present, future, and former board members, state officers/employees, and investment managers are indemnified and held harmless for decisions to restrict, reduce, or eliminate WMD investments.

  • State contracting requirements (Section 6)

    • State agencies must review and terminate existing contracts with WMD Entities where practicable and avoid new contracts with such entities.
    • Agencies must identify and file lists of WMD-related contracts; the AG will publish these lists.

  • Annual reporting (Section 7)

    • The Public Fund must annually report to the AG and legislative clerks, detailing investments sold/divested and investments still prohibited but not yet divested.

Who would be affected

  • Public Fund (PRIM) and its investment staff, managers, and external asset managers.
  • State agencies with contracts or potential contracts with WMD Entities.
  • The Attorney General and legislative clerks, which would publish public lists.
  • The broader public, via increased transparency about holdings.

Timeline and process

  • Effective date: The act specifies divestment and related actions to occur within 12 months of the act’s effective date.
  • Identification: Within 30 days to identify WMD holdings.
  • Public disclosure: Public list published within 60 days after filing.
  • Ongoing: Annual reporting requirement.

Bottom line

HD 3001 would require the Public Fund to identify, disclose, and divest from any WMD-related holdings within a year, prohibit future investments in WMD Entities, broaden transparency of state contracts with such entities, and provide legal protections and annual reporting to monitor compliance.

Compiled from official sources — confirm details with the bill’s official record.

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