[Congressional Record Volume 169, Number 58 (Thursday, March 30, 2023)]
[Senate]
[Pages S1108-S1109]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  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).
                                 ______