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Relating to state contracts with and investments in certain companies that boycott energy companies.
The fiscal impact of provisions that would prohibit certain state governmental entities from investing in financial companies that boycott energy companies and prohibit certain governmental entities from executing contracts with the same companies cannot be determined.
HB 2189 would require the comptroller to create a list of companies divesting from the fossil fuel industry to penalize, inflict economic harm on, or limit commercial relations with an energy company and would limit or prohibit investment in in such companies by state investment funds and would stop the state of Texas from doing business with companies unless they agree to not divest from fossil fuel companies in their contracts.
Texas Action remains neutral on HB 2189 as it does not impact our liberty principles. Texans certainly have an interest in prohibiting their government from actively contracting with or investing in companies known to be undermining a critical economic engine and jobs provider within the state.