S.Amdt. 64

SA 64. Mr. LEE submitted an amendment intended to be proposed by him
to the bill S. 870, to amend the Federal Fire Prevention and Control
Act of 1974 to authorize appropriations for the United States Fire
Administration and firefighter assistance grant programs; which was
ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. RESTRICTION ON THE PROVISION OF ASSISTANCE TO
ENTITIES THAT INVEST IN CERTAIN VEHICLES.

(a) Definitions.--In this section:
(1) Administrator.--The term ``Administrator'' means the
Administrator of the Federal Emergency Management Agency.
(2) Covered entity.--The term ``covered entity'' means any
entity that invests sums that are set aside for pensions of
employees and invests those sums in any mutual fund,
exchange-traded fund, or other investment vehicle that
invests in bonds or equities.
(3) ESG criteria.--The term ``ESG criteria'' means--
(A) environmental criteria, including--
(i) emissions, climate change, sustainability,
environmental justice, pollution, or conservation; or
(ii) whether a company is engaged in the exploration,
production, utilization, transportation, sale, or
manufacturing of fossil fuel-based energy;
(B) social criteria, including--
(i) diversity criteria, including--

(I) the sex, race, ethnicity, gender identity, sexual
orientation, or socioeconomic status of the owners, board
members, employees, or customers of companies; or
(II) whether the board members, employees, or customers
described in clause (i) are members of a labor organization;
or

(ii) whether a company is engaged in the manufacture,
transportation, or sale of firearms, firearms accessories, or
ammunition;
(C) political criteria, including the perceived or actual
political affiliations, donations, or associations of
companies; and
(D) criteria for corporate governance standards that differ
from the applicable standards required under State and
Federal law, as in effect on the date of enactment of this
Act.
(4) Exchange-traded fund.--The term ``exchange-traded
fund'' has the meaning given the term in section 270.6c-11 of
title 17, Code of Federal Regulations, or any successor
regulation.

[[Page S1109]]

(5) Labor organization.--The term ``labor organization''
has the meaning given the term in section 2 of the National
Labor Relations Act (29 U.S.C. 152).
(b) Requirement.--Notwithstanding any other provision of
law or regulation, a covered entity that receives assistance
provided under the Federal Fire Prevention and Control Act of
1974 (15 U.S.C. 2201 et seq.) as a recipient or subrecipient
shall, not later than 30 days after receiving the assistance,
request a statement of intent from the managers of the
covered entity that would expressly declare the intent of the
managers to comply, or not to comply, with a requirement that
the pensions of firefighters not be invested based on ESG
criteria.
(c) Submission to FEMA.--Not later than 90 days after
receiving a request under subsection (b), the managers of the
covered entity shall submit to the Administrator the
statement of intent described in subsection (b).
(d) Submission to Congress.--Upon receipt of a statement of
intent under subsection (c), the Administrator shall submit
to the Committee on Homeland Security and Governmental
Affairs of a Senate a statement detailing which managers of
covered entities do not intend to comply with the requirement
described in subsection (b).
______