- Associated Press - Wednesday, September 2, 2015

SACRAMENTO, Calif. (AP) - Lawmakers are sending Gov. Jerry Brown a plan to force the state’s two largest public pension funds to divest from coal holdings.

Assemblyman Rob Bonta, an Oakland Democrat, says requiring the California Public Employees’ Retirement System and the California State Teachers’ Retirement System to drop coal aligns the funds with Californians’ values.

He carried SB185 in the Assembly Wednesday, where it passed on a 43-27 vote.

Senate Democrats say the funds would have to divest about $300 million, a nominal portion of their billions in investments.

Republican Assemblyman James Gallagher of Nicolaus said the Legislature shouldn’t interfere with investment decisions by the fund boards, which aim for the highest returns.



The bill is among several environmental bills pushed by Senate President Pro Tem Kevin de Leon, a Los Angeles Democrat.

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