Image Credit: capitol.tn.gov
The Tennessee Conservative [By Paula Gomes] –
A proposed law to prohibit “woke” investments being made by the state of Tennessee is not dead, according to one lawmaker, despite the bill being placed behind the budget yesterday during a House Finance, Ways, and Means Subcommittee meeting.
After the bill, which prevents the State Treasurer from investing state and taxpayer dollars based on environmental social governance (ESG) factors, was placed behind the budget, Representative David Hawk (R-Greeneville-District 5) took some time to reassure concerned citizens that the bill is not dead.
“As we are taking action on this bill and others, some folks who have been watching have indicated they see a behind the budget motion as stopping a bill’s progress, and I want those folks who are watching to know and understand that it is still part of the conversation. It is still an ongoing piece of legislation,” said Hawk. “I signed onto, this morning, that particular bill and it is still very much part of the discussion. It has not stopped the bill’s progress. As the Chairman has made the behind the budget motion on several occasions this morning, those bills are still alive and well and being discussed.”
Chairman Gary Hicks (R- Rogersville-District 9) was also optimistic about the bill, even before Hawk’s remarks, telling Zachary that he looks forward to working with him “to get this over the finish line.”
House Bill 1286 (HB1286) is sponsored by Rep. Jason Zachary (R-Knoxville-District 14) and is the corresponding bill to SB0955, sponsored by Senator Jack Johnson (R-Franklin-District 27) which passed the Senate on Monday.
ESG scores are based on factors relating to environmental and social justice initiatives instead of how well a company is run.
No specific dollar amount is recorded in the fiscal note of the proposed legislation due to “multiple unknown variables.” The note says that “the precise increase in state expenditures cannot be quantified with reasonable certainty.”
Many good bills have been known to languish, and eventually meet their end, when there is any significant cost involved. The legislature must take the Governor’s proposed budget into account every year when deciding which bills will be funded.
About the Author: Paula Gomes is a Tennessee resident and reporter for The Tennessee Conservative. You can reach Paula at email@example.com.