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HB1307

Concerning The Regulation Of Environmental, Social Justice, Or Governance Scores; And To Authorize The Treasurer Of State To Divest Certain Investments Or Obligations Due To Certain Factors.

Passed

Last Action (March 30, 2023): Notification that HB1307 is now Act 411

Sponsors

AI-Generated Summary

This bill, HB 1307, establishes a framework for the state of Arkansas to restrict financial dealings with companies that utilize environmental, social, and governance (ESG) metrics to discriminate against specific industries. It defines 'discrimination' as refusing to engage in business with entities in the fossil fuel, energy, firearm, or ammunition industries based on non-pecuniary ESG factors. The bill creates an ESG Oversight Committee tasked with identifying and maintaining a list of financial services providers that engage in such discriminatory practices. Once a provider is placed on this list, the state Treasurer and other public entities are required to divest from their direct or indirect holdings with that provider within specified timeframes. The bill provides a notice and opportunity to cure for accused financial institutions and ensures that public entities and investment advisors are protected from liability for breach of fiduciary duty when complying with these divestment requirements.

Potential Impact Analysis

Who Might Benefit?

The primary beneficiaries of this bill are the energy, fossil fuel, firearm, and ammunition industries, as the legislation aims to protect them from being excluded from financial services based on ESG criteria. Additionally, state policymakers and proponents of this legislation benefit by asserting state control over investment practices to align with their specific economic and political policy goals regarding ESG mandates.

Who Might Suffer?

Financial services providers, such as banks, investment firms, and credit unions that incorporate ESG factors into their risk management, lending, or investment policies, are most directly impacted. They may face the loss of state-managed funds and contracts if deemed to be discriminating against the specified industries. Furthermore, public entities, including school districts and local governments, may be negatively impacted if they are forced to divest from high-performing or cost-effective investment vehicles, potentially leading to increased administrative costs or lower investment returns for their portfolios.

Vote Records

Failed to concur in Senate Amendment No. 1

March 27, 2023
Yea: 50 Nay: 30 NV: 20 Absent: 0 Failed
View individual votes (100)
Legislator Party Chamber Vote
Fred Allen Democrat House NV
Lane Jean Republican House Yea
Stephen Meeks Republican House Yea
Mark Perry Democrat House Nay
Jon Eubanks Republican House Yea
Matthew Shepherd Republican House Yea
Jeff Wardlaw Republican House Yea
Bruce Cozart Republican House Yea
David Whitaker Democrat House Nay
Deborah Ferguson Democrat House Nay
Charlene Fite Republican House Nay
Mike Holcomb Republican House NV
Stephen Magie Democrat House Nay
Mark McElroy Republican House Nay
Josh Miller Republican House Yea
Richard Womack Republican House Nay
Jack Ladyman Republican House Yea
Robin Lundstrum Republican House NV
Dwight Tosh Republican House Nay
Lanny Fite Republican House NV
Grant Hodges Republican House Yea
Rick Beck Republican House Yea
Mary Bentley Republican House Yea
Les Eaves Republican House NV
Justin Gonzales Republican House Yea
Julie Mayberry Republican House Nay
Ken Ferguson Democrat House NV
Ron Mcnair Republican House Nay
Milton Nicks Democrat House NV
Marcus Richmond Republican House Yea
Vivian Flowers Democrat House Nay
Deann Vaught Republican House NV
Karilyn Brown Republican House Yea
Sonia Eubanks Barker Republican House Yea
Frances Cavenaugh Republican House Yea
Jack Fortner Republican House Yea
Jimmie Gazaway Republican House Nay
Roger Lynch Republican House NV
John Maddox Republican House NV
Aaron Pilkington Republican House Yea
Johnny Rye Republican House Nay
Les Warren Republican House Nay
Danny Watson Republican House NV
Carlton Wing Republican House Yea
Austin Mccollum Republican House Yea
Carol Dalby Republican House NV
Steve Hollowell Republican House Yea
Brian Evans Republican House NV
Lee Johnson Republican House NV
Andrew Collins Democrat House Nay
Stan Berry Republican House Yea
Harlan Breaux Republican House Yea
Cameron Cooper Republican House NV
Nicole Clowney Democrat House Nay
Cindy Crawford Republican House Yea
Denise Garner Democrat House Nay
Tippi McCullough Democrat House Nay
Jay Richardson Democrat House NV
Jamie Scott Democrat House Nay
Jim Wooten Republican House Nay
Denise Ennett Democrat House NV
Richard McGrew Republican House Nay
Joy Springer Democrat House Nay
Howard Beaty Republican House Yea
Tony Furman Republican House Yea
Kendon Underwood Republican House Yea
David Ray Republican House Yea
Mark Berry Republican House Yea
John Carr Republican House Yea
Rick McClure Republican House Nay
Keith Brooks Republican House Yea
Delia Haak Republican House Nay
Ashley Hudson Democrat House Nay
Jon Milligan Republican House Yea
RJ Hawk Republican House Yea
Wade Andrews Republican House Yea
Rebecca Burkes Republican House Yea
DeAnna Hodges Republican House Yea
Hope Duke Republican House Nay
Zack Gramlich Republican House Yea
Mindy McAlindon Republican House NV
Matt Duffield Republican House NV
Stetson Painter Republican House Yea
Steve Unger Republican House Yea
Wayne Long Republican House NV
Scott Richardson Republican House Yea
Brandon Achor Republican House Yea
Jeremiah Moore Republican House Yea
Joey Carr Republican House Nay
Matt Brown Republican House Yea
Shad Pearce Republican House Yea
Chad Puryear Republican House Nay
Ryan Rose Republican House Yea
Bart Schulz Republican House Yea
Trey Steimel Republican House Yea
Tara Shephard Democrat House Nay
Jeremy Wooldridge Republican House Yea
Kendra Moore Republican House Nay
Brit McKenzie Republican House Yea
Steven Walker Republican House Yea

Failed to concur in Senate Amendment No. 3

March 27, 2023
Yea: 50 Nay: 33 NV: 17 Absent: 0 Failed
View individual votes (100)
Legislator Party Chamber Vote
Fred Allen Democrat House NV
Lane Jean Republican House NV
Stephen Meeks Republican House Yea
Mark Perry Democrat House Nay
Jon Eubanks Republican House Yea
Matthew Shepherd Republican House Yea
Jeff Wardlaw Republican House Yea
Bruce Cozart Republican House Yea
David Whitaker Democrat House Nay
Deborah Ferguson Democrat House Nay
Charlene Fite Republican House Nay
Mike Holcomb Republican House NV
Stephen Magie Democrat House Nay
Mark McElroy Republican House Nay
Josh Miller Republican House Yea
Richard Womack Republican House Nay
Jack Ladyman Republican House Yea
Robin Lundstrum Republican House NV
Dwight Tosh Republican House Nay
Lanny Fite Republican House NV
Grant Hodges Republican House Yea
Rick Beck Republican House Yea
Mary Bentley Republican House Yea
Les Eaves Republican House NV
Justin Gonzales Republican House Yea
Julie Mayberry Republican House Nay
Ken Ferguson Democrat House NV
Ron Mcnair Republican House Yea
Milton Nicks Democrat House NV
Marcus Richmond Republican House Yea
Vivian Flowers Democrat House Nay
Deann Vaught Republican House NV
Karilyn Brown Republican House Yea
Sonia Eubanks Barker Republican House Yea
Frances Cavenaugh Republican House Yea
Jack Fortner Republican House Yea
Jimmie Gazaway Republican House Nay
Roger Lynch Republican House Yea
John Maddox Republican House NV
Aaron Pilkington Republican House Yea
Johnny Rye Republican House Nay
Les Warren Republican House Nay
Danny Watson Republican House Nay
Carlton Wing Republican House Yea
Austin Mccollum Republican House Yea
Carol Dalby Republican House Nay
Steve Hollowell Republican House Yea
Brian Evans Republican House Yea
Lee Johnson Republican House NV
Andrew Collins Democrat House Nay
Stan Berry Republican House Yea
Harlan Breaux Republican House Nay
Cameron Cooper Republican House NV
Nicole Clowney Democrat House Nay
Cindy Crawford Republican House Yea
Denise Garner Democrat House Nay
Tippi McCullough Democrat House Nay
Jay Richardson Democrat House NV
Jamie Scott Democrat House Nay
Jim Wooten Republican House Nay
Denise Ennett Democrat House Nay
Richard McGrew Republican House Yea
Joy Springer Democrat House Nay
Howard Beaty Republican House Yea
Tony Furman Republican House Yea
Kendon Underwood Republican House Yea
David Ray Republican House Yea
Mark Berry Republican House Yea
John Carr Republican House Yea
Rick McClure Republican House Nay
Keith Brooks Republican House Yea
Delia Haak Republican House Nay
Ashley Hudson Democrat House Nay
Jon Milligan Republican House Nay
RJ Hawk Republican House Yea
Wade Andrews Republican House Yea
Rebecca Burkes Republican House Yea
DeAnna Hodges Republican House Yea
Hope Duke Republican House Nay
Zack Gramlich Republican House Yea
Mindy McAlindon Republican House Yea
Matt Duffield Republican House NV
Stetson Painter Republican House NV
Steve Unger Republican House NV
Wayne Long Republican House Yea
Scott Richardson Republican House Yea
Brandon Achor Republican House Yea
Jeremiah Moore Republican House Yea
Joey Carr Republican House Nay
Matt Brown Republican House Yea
Shad Pearce Republican House NV
Chad Puryear Republican House Nay
Ryan Rose Republican House Yea
Bart Schulz Republican House Yea
Trey Steimel Republican House Yea
Tara Shephard Democrat House Nay
Jeremy Wooldridge Republican House Yea
Kendra Moore Republican House Nay
Brit McKenzie Republican House Yea
Steven Walker Republican House Yea

Senate amendment # 1 read and concurred in.

March 27, 2023
Yea: 67 Nay: 19 NV: 14 Absent: 0 Passed
View individual votes (100)
Legislator Party Chamber Vote
Fred Allen Democrat House Yea
Lane Jean Republican House Yea
Stephen Meeks Republican House Yea
Mark Perry Democrat House NV
Jon Eubanks Republican House Yea
Matthew Shepherd Republican House Yea
Jeff Wardlaw Republican House Yea
Bruce Cozart Republican House Yea
David Whitaker Democrat House Nay
Deborah Ferguson Democrat House Nay
Charlene Fite Republican House Yea
Mike Holcomb Republican House Yea
Stephen Magie Democrat House Nay
Mark McElroy Republican House Yea
Josh Miller Republican House Yea
Richard Womack Republican House Yea
Jack Ladyman Republican House Yea
Robin Lundstrum Republican House Yea
Dwight Tosh Republican House Nay
Lanny Fite Republican House Yea
Grant Hodges Republican House Yea
Rick Beck Republican House Yea
Mary Bentley Republican House Yea
Les Eaves Republican House NV
Justin Gonzales Republican House Yea
Julie Mayberry Republican House Nay
Ken Ferguson Democrat House Yea
Ron Mcnair Republican House Yea
Milton Nicks Democrat House NV
Marcus Richmond Republican House Yea
Vivian Flowers Democrat House Nay
Deann Vaught Republican House Yea
Karilyn Brown Republican House Yea
Sonia Eubanks Barker Republican House Yea
Frances Cavenaugh Republican House Yea
Jack Fortner Republican House Yea
Jimmie Gazaway Republican House Yea
Roger Lynch Republican House Yea
John Maddox Republican House Yea
Aaron Pilkington Republican House Yea
Johnny Rye Republican House Nay
Les Warren Republican House NV
Danny Watson Republican House Yea
Carlton Wing Republican House Yea
Austin Mccollum Republican House NV
Carol Dalby Republican House NV
Steve Hollowell Republican House Yea
Brian Evans Republican House Yea
Lee Johnson Republican House Yea
Andrew Collins Democrat House Nay
Stan Berry Republican House Yea
Harlan Breaux Republican House Yea
Cameron Cooper Republican House NV
Nicole Clowney Democrat House Nay
Cindy Crawford Republican House NV
Denise Garner Democrat House Nay
Tippi McCullough Democrat House Nay
Jay Richardson Democrat House NV
Jamie Scott Democrat House Nay
Jim Wooten Republican House Nay
Denise Ennett Democrat House Nay
Richard McGrew Republican House Yea
Joy Springer Democrat House Nay
Howard Beaty Republican House Yea
Tony Furman Republican House Yea
Kendon Underwood Republican House Yea
David Ray Republican House Yea
Mark Berry Republican House Yea
John Carr Republican House Yea
Rick McClure Republican House NV
Keith Brooks Republican House Yea
Delia Haak Republican House NV
Ashley Hudson Democrat House Nay
Jon Milligan Republican House Yea
RJ Hawk Republican House Yea
Wade Andrews Republican House Yea
Rebecca Burkes Republican House Yea
DeAnna Hodges Republican House Yea
Hope Duke Republican House Nay
Zack Gramlich Republican House Yea
Mindy McAlindon Republican House NV
Matt Duffield Republican House Yea
Stetson Painter Republican House Yea
Steve Unger Republican House Yea
Wayne Long Republican House NV
Scott Richardson Republican House Yea
Brandon Achor Republican House Yea
Jeremiah Moore Republican House Yea
Joey Carr Republican House Nay
Matt Brown Republican House Yea
Shad Pearce Republican House Yea
Chad Puryear Republican House Yea
Ryan Rose Republican House Yea
Bart Schulz Republican House Yea
Trey Steimel Republican House Yea
Tara Shephard Democrat House Nay
Jeremy Wooldridge Republican House Yea
Kendra Moore Republican House NV
Brit McKenzie Republican House Yea
Steven Walker Republican House Yea

Senate amendment # 3 read and concurred in.

March 27, 2023
Yea: 70 Nay: 18 NV: 12 Absent: 0 Passed
View individual votes (100)
Legislator Party Chamber Vote
Fred Allen Democrat House Yea
Lane Jean Republican House NV
Stephen Meeks Republican House Yea
Mark Perry Democrat House Nay
Jon Eubanks Republican House Yea
Matthew Shepherd Republican House Yea
Jeff Wardlaw Republican House Yea
Bruce Cozart Republican House Yea
David Whitaker Democrat House Nay
Deborah Ferguson Democrat House Nay
Charlene Fite Republican House Yea
Mike Holcomb Republican House Yea
Stephen Magie Democrat House Nay
Mark McElroy Republican House Yea
Josh Miller Republican House Yea
Richard Womack Republican House Yea
Jack Ladyman Republican House Yea
Robin Lundstrum Republican House Yea
Dwight Tosh Republican House NV
Lanny Fite Republican House Yea
Grant Hodges Republican House Yea
Rick Beck Republican House Yea
Mary Bentley Republican House Yea
Les Eaves Republican House NV
Justin Gonzales Republican House Yea
Julie Mayberry Republican House Nay
Ken Ferguson Democrat House NV
Ron Mcnair Republican House Yea
Milton Nicks Democrat House NV
Marcus Richmond Republican House Yea
Vivian Flowers Democrat House Nay
Deann Vaught Republican House Yea
Karilyn Brown Republican House Yea
Sonia Eubanks Barker Republican House Yea
Frances Cavenaugh Republican House Yea
Jack Fortner Republican House Yea
Jimmie Gazaway Republican House Yea
Roger Lynch Republican House Yea
John Maddox Republican House Yea
Aaron Pilkington Republican House Yea
Johnny Rye Republican House Yea
Les Warren Republican House NV
Danny Watson Republican House Yea
Carlton Wing Republican House Yea
Austin Mccollum Republican House Yea
Carol Dalby Republican House NV
Steve Hollowell Republican House Yea
Brian Evans Republican House Yea
Lee Johnson Republican House Yea
Andrew Collins Democrat House Nay
Stan Berry Republican House Yea
Harlan Breaux Republican House Yea
Cameron Cooper Republican House NV
Nicole Clowney Democrat House Nay
Cindy Crawford Republican House NV
Denise Garner Democrat House Nay
Tippi McCullough Democrat House Nay
Jay Richardson Democrat House NV
Jamie Scott Democrat House Nay
Jim Wooten Republican House Nay
Denise Ennett Democrat House Nay
Richard McGrew Republican House Yea
Joy Springer Democrat House Nay
Howard Beaty Republican House Yea
Tony Furman Republican House Yea
Kendon Underwood Republican House Yea
David Ray Republican House Yea
Mark Berry Republican House Yea
John Carr Republican House Yea
Rick McClure Republican House Yea
Keith Brooks Republican House Yea
Delia Haak Republican House NV
Ashley Hudson Democrat House Nay
Jon Milligan Republican House Yea
RJ Hawk Republican House Yea
Wade Andrews Republican House Yea
Rebecca Burkes Republican House Yea
DeAnna Hodges Republican House Yea
Hope Duke Republican House Nay
Zack Gramlich Republican House Yea
Mindy McAlindon Republican House Yea
Matt Duffield Republican House Yea
Stetson Painter Republican House Yea
Steve Unger Republican House Yea
Wayne Long Republican House Yea
Scott Richardson Republican House Yea
Brandon Achor Republican House Yea
Jeremiah Moore Republican House Yea
Joey Carr Republican House Nay
Matt Brown Republican House Yea
Shad Pearce Republican House Yea
Chad Puryear Republican House Yea
Ryan Rose Republican House Yea
Bart Schulz Republican House Yea
Trey Steimel Republican House Yea
Tara Shephard Democrat House Nay
Jeremy Wooldridge Republican House Yea
Kendra Moore Republican House NV
Brit McKenzie Republican House Yea
Steven Walker Republican House Yea

Third Reading

March 13, 2023
Yea: 22 Nay: 11 NV: 2 Absent: 0 Passed
View individual votes (35)
Legislator Party Chamber Vote
Jane English Republican Senate Nay
Linda Chesterfield Democrat Senate Nay
Jonathan Dismang Republican Senate Nay
Greg Leding Democrat Senate Nay
Missy Irvin Republican Senate Yea
Bryan King Republican Senate Yea
Kim Hammer Republican Senate NV
Stephanie Flowers Democrat Senate Nay
Frederick Love Democrat Senate Nay
Terry Rice Republican Senate Yea
Reginald Murdock Democrat Senate Nay
Gary Stubblefield Republican Senate Yea
Jim Dotson Republican Senate Yea
John Payton Republican Senate Yea
Alan Clark Republican Senate Yea
Ronald Caldwell Republican Senate NV
Bart Hester Republican Senate Yea
Jimmy Hickey Republican Senate Nay
Dan Sullivan Republican Senate Yea
David Wallace Republican Senate Nay
Blake Johnson Republican Senate Yea
Justin Boyd Republican Senate Yea
Clarke Tucker Democrat Senate Nay
Scott Flippo Republican Senate Yea
Clint Penzo Republican Senate Yea
Mark Johnson Republican Senate Yea
Ricky Hill Republican Senate Yea
Breanne Davis Republican Senate Yea
Ben Gilmore Republican Senate Yea
Joshua Bryant Republican Senate Nay
Matt McKee Republican Senate Yea
Jim Petty Republican Senate Yea
Steve Crowell Republican Senate Yea
Tyler Dees Republican Senate Yea
Matt Stone Republican Senate Yea

Third Reading

March 13, 2023
Yea: 23 Nay: 9 NV: 3 Absent: 0 Passed
View individual votes (35)
Legislator Party Chamber Vote
Jane English Republican Senate Nay
Linda Chesterfield Democrat Senate Nay
Jonathan Dismang Republican Senate Nay
Greg Leding Democrat Senate Nay
Missy Irvin Republican Senate NV
Bryan King Republican Senate Yea
Kim Hammer Republican Senate NV
Stephanie Flowers Democrat Senate Nay
Frederick Love Democrat Senate Nay
Terry Rice Republican Senate Yea
Reginald Murdock Democrat Senate Nay
Gary Stubblefield Republican Senate Yea
Jim Dotson Republican Senate Yea
John Payton Republican Senate Yea
Alan Clark Republican Senate Yea
Ronald Caldwell Republican Senate NV
Bart Hester Republican Senate Yea
Jimmy Hickey Republican Senate Nay
Dan Sullivan Republican Senate Yea
David Wallace Republican Senate Yea
Blake Johnson Republican Senate Yea
Justin Boyd Republican Senate Yea
Clarke Tucker Democrat Senate Nay
Scott Flippo Republican Senate Yea
Clint Penzo Republican Senate Yea
Mark Johnson Republican Senate Yea
Ricky Hill Republican Senate Yea
Breanne Davis Republican Senate Yea
Ben Gilmore Republican Senate Yea
Joshua Bryant Republican Senate Yea
Matt McKee Republican Senate Yea
Jim Petty Republican Senate Yea
Steve Crowell Republican Senate Yea
Tyler Dees Republican Senate Yea
Matt Stone Republican Senate Yea

Third Reading

Feb. 16, 2023
Yea: 79 Nay: 12 NV: 9 Absent: 0 Passed
View individual votes (100)
Legislator Party Chamber Vote
Fred Allen Democrat House NV
Lane Jean Republican House NV
Stephen Meeks Republican House NV
Mark Perry Democrat House NV
Jon Eubanks Republican House Yea
Matthew Shepherd Republican House Yea
Jeff Wardlaw Republican House Yea
Bruce Cozart Republican House Yea
David Whitaker Democrat House Nay
Deborah Ferguson Democrat House Nay
Charlene Fite Republican House Yea
Mike Holcomb Republican House Yea
Stephen Magie Democrat House NV
Mark McElroy Republican House Yea
Josh Miller Republican House Yea
Richard Womack Republican House Yea
Jack Ladyman Republican House Yea
Robin Lundstrum Republican House Yea
Dwight Tosh Republican House Yea
Lanny Fite Republican House Yea
Grant Hodges Republican House Yea
Rick Beck Republican House Yea
Mary Bentley Republican House Yea
Les Eaves Republican House Yea
Justin Gonzales Republican House Yea
Julie Mayberry Republican House Yea
Ken Ferguson Democrat House NV
Ron Mcnair Republican House Yea
Milton Nicks Democrat House NV
Marcus Richmond Republican House Yea
Vivian Flowers Democrat House Nay
Deann Vaught Republican House Yea
Karilyn Brown Republican House Yea
Sonia Eubanks Barker Republican House Yea
Frances Cavenaugh Republican House Yea
Jack Fortner Republican House Yea
Jimmie Gazaway Republican House Yea
Roger Lynch Republican House Yea
John Maddox Republican House Yea
Aaron Pilkington Republican House Yea
Johnny Rye Republican House Yea
Les Warren Republican House Yea
Danny Watson Republican House Yea
Carlton Wing Republican House Yea
Austin Mccollum Republican House Yea
Carol Dalby Republican House Yea
Steve Hollowell Republican House Yea
Brian Evans Republican House Yea
Lee Johnson Republican House Yea
Andrew Collins Democrat House Nay
Stan Berry Republican House Yea
Harlan Breaux Republican House Yea
Cameron Cooper Republican House Yea
Nicole Clowney Democrat House Nay
Cindy Crawford Republican House Yea
Denise Garner Democrat House Nay
Tippi McCullough Democrat House Nay
Jay Richardson Democrat House NV
Jamie Scott Democrat House Nay
Jim Wooten Republican House Yea
Denise Ennett Democrat House Nay
Richard McGrew Republican House Yea
Joy Springer Democrat House Nay
Howard Beaty Republican House Yea
Tony Furman Republican House Yea
Kendon Underwood Republican House Yea
David Ray Republican House Yea
Mark Berry Republican House Yea
John Carr Republican House Yea
Rick McClure Republican House Yea
Keith Brooks Republican House Yea
Delia Haak Republican House Yea
Ashley Hudson Democrat House Nay
Jon Milligan Republican House Yea
RJ Hawk Republican House Yea
Wade Andrews Republican House NV
Rebecca Burkes Republican House Yea
DeAnna Hodges Republican House Yea
Hope Duke Republican House Yea
Zack Gramlich Republican House Yea
Mindy McAlindon Republican House Yea
Matt Duffield Republican House Yea
Stetson Painter Republican House Yea
Steve Unger Republican House Yea
Wayne Long Republican House Yea
Scott Richardson Republican House Yea
Brandon Achor Republican House Yea
Jeremiah Moore Republican House Yea
Joey Carr Republican House Yea
Matt Brown Republican House Yea
Shad Pearce Republican House Yea
Chad Puryear Republican House Yea
Ryan Rose Republican House Yea
Bart Schulz Republican House Yea
Trey Steimel Republican House Yea
Tara Shephard Democrat House Nay
Jeremy Wooldridge Republican House Yea
Kendra Moore Republican House Yea
Brit McKenzie Republican House Yea
Steven Walker Republican House Yea
Read Full Bill on arkleg.state.ar.us