For the second time in two years, the bill was blocked by a single legislator heading the Assembly’s Committee on Public Employment and Retirement. It will be up for reconsideration next year.

In a statement to Capital & Main, Assemblymember Tina McKinnor (D-Inglewood), the committee chair who blocked the bill, said she wanted to learn more about how divestment could affect pensioners in the state. In her campaign for office last year, labor unions were her largest supporters, contributing at least $358,900. She also benefited from more than $100,000 put up by a political action committee funded by oil and gas companies.

“Before making a decision on this policy, I have asked CalPERS and CalSTRS members, beneficiaries and their labor representatives to share their opinion on this legislation. These funds pay for their retirement and I welcome their voices before considering SB 252 in 2024,” McKinnor said.

The bill was carried, once again, by Sen. Lena Gonzalez (D-Long Beach). Her press secretary, Leoda Valenzuela, said that McKinnor agreed to hold an “informational hearing” in early 2024.