|
|
|
|
|
|
|
|
128th MAINE LEGISLATURE |
|
|
LD 981 |
|
LR 1841(01) |
|
|
|
An Act Regarding
State Investments and the Dakota Access Pipeline |
|
Preliminary
Fiscal Impact Statement for Original Bill |
|
Sponsor: Sen. Chipman of Cumberland |
|
Committee: Appropriations and Financial Affairs |
|
Fiscal Note Required: Yes |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Preliminary
Fiscal Impact Statement |
|
|
|
|
|
|
|
| Potential current biennium revenue decrease - General Fund |
|
|
|
|
|
|
|
| Fiscal Detail
and Notes |
|
|
|
|
|
|
The bill
prohibits the Treasurer of State from depositing funds or investing in
securities in any corporation or institution involved in financing the
construction of the Dakota Access pipeline.
Based upon current investments within the state's cash pool, the
Treasurer has indicated that General Fund revenues could be reduced by
approximately $210,000 each year. |
|
Because this
legislation requires the Maine Public Employees Retirement System to divest
its holdings in any corporation or company that is constructing or funding
construction of the Dakota Access pipeline only if it is in accordance with
sound investment criteria and consistent with its fiduciary obligations,
there will be no negative fiscal impact to the system. |
|
|
|
|
|
|
|