Relates to divestiture of public funds in the Russian energy sector

2025 Regular Session Introduced by Doug Smith

Divests public funds from the Russian energy sector, affecting state/local funds and public pensions.

REFERRED TO GOVERNMENTAL OPERATIONS

Summary of Bill A 2160 – Relates to divestiture of public funds in the Russian energy sector

Overview and Status

Bill number: A 2160

Title: Relates to divestiture of public funds in the Russian energy sector

Status: Referred to Governmental Operations

Introduced: January 15, 2025

Primary sponsor: Doug Smith

Legislative actions to date:

2025-01-15: Referred to Governmental Operations (listed twice in the record)

Related bills (prior-session): A 10260, A 6525

Purpose and Intent

The bill’s title indicates an objective to address the divestiture of public funds from the Russian energy sector. While the exact statutory language is not provided in the available materials, the intended purpose is generally to require, encourage, or otherwise facilitate the withdrawal of public investments from Russian energy assets or companies.

Key Provisions (What the bill would do)

Note: The specific text of provisions is not included in the materials provided. As such, precise requirements are not enumerated here. Based on the title and common structure of similar measures, potential areas the bill might address (subject to actual text) include:

Definition of “public funds” and “Russian energy sector”
Scope of entities subject to divestiture (e.g., state and local government funds, pension funds, endowments, investment authorities, and state-supported financial institutions)
Obligations to divest within a defined timeline or to discontinue new investments
Permissible exemptions or safety valves
Reporting and transparency requirements (disclosure of holdings and divestiture progress)
Enforcement mechanisms and penalties for noncompliance
Procedures for plan approval and implementation by relevant authorities

Because the bill text is not provided, the above are plausible areas based on the bill’s title and common approaches in public-fund divestment measures.

Affected Parties and Impacts

Primary affected entities:

State and local government funds
Public pension funds and other public investment funds
Investment managers and fiduciaries administering public funds
Governmental agencies tasked with oversight and enforcement

Potential impacts:

Portfolio adjustments and divestiture of Russian energy sector holdings
Possible effects on fund performance, liquidity, and management costs during transition
Administrative and compliance requirements for public fund managers
Implications for state and local procurement and financing relationships if investments are redirected

Procedural and Timeline Aspects

Early-stage bill introduced and assigned to the Governmental Operations committee. No floor vote date or final disposition provided in the current material.

If advanced, timelines would typically include committee hearings, potential amendments, and floor consideration in the legislative chamber, followed by the other chamber’s actions and potential reconciliation.

Context and Related Legislation

Related bills from prior sessions (A 10260 and A 6525) suggest ongoing or related efforts to regulate public investments related to Russia or energy sectors. The specifics of how those prior-session bills compare to A 2160 would require the text of those measures.

Next Steps for Readers

Monitor committee hearings and amendments in Governmental Operations for the exact provisions, definitions, and timelines.

Review the full bill text when available to understand precise scope, exemptions, and enforcement mechanisms.

Compare with A 10260 and A 6525 to assess changes in approach or scope from prior sessions.