RESPOND Act of 2021
Latest action · Mar 4, 2021 Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 4, 2021
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Restructuring Environmentally Sound Pensions in Order to Negate Disaster Act of 2021 or the RESPOND Act of 2021
This bill addresses issues related to the impact of climate change on the economy, including federal retirement plans.
The Federal Retirement Thrift Investment Board must establish an advisory panel on the economics of climate change to advise on how the board may invest in clean and renewable energy and make investments in a manner that helps ensure net zero greenhouse gas emissions in the United States by 2050. The board must then assess whether implementing low-carbon investment strategies is profitable and consistent with its duties.
If the board cannot implement such strategies, the bill establishes the Climate Choice Stock Index Fund as part of the Federal Employees Retirement System's Thrift Savings Plan. This fund is established as an investment portfolio that performs similarly to other plan index funds, but does not invest in fossil fuels.
Finally, the Federal Reserve Board and the Securities and Exchange Commission must annually report on the economic costs of climate change.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Homeland Security and Governmental Affairs Committee | Referred Mar 4, 2021 |
Actions 2
Everything that happened, newest first.
- Mar 4, 2021Introduced in Senate
- Mar 4, 2021Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| IF12110 | Thrift Savings Plan: Investment Issues | Resource | May 17, 2022 |
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1618 | RESPOND Act of 2021 | Identical bill | Mar 8, 2021 |
| S 3922 | RESPOND Act of 2024 | Reintroduced Bill | Mar 12, 2024 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to require the Board of Governors of the Federal Reserve System and the Securities and Exchange Commission to issue an annual report to Congress projecting and accounting for the economic costs directly and indirectly caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change, and for other purposes.
- Short Title(s) as Introduced
- RESPOND Act of 2021
- Restructuring Environmentally Sound Pensions in Order to Negate Disaster Act of 2021
Subjects
Assigned by the Library of Congress. Policy area: Government Operations and Politics.
- Advisory bodies
- Air quality
- Alternative and renewable resources
- Atmospheric science and weather
- Climate change and greenhouse gases
- Coal
- Congressional oversight
- Disaster relief and insurance
- Economic performance and conditions
- Employee benefits and pensions
- Environmental health
- Financial services and investments
- Government employee pay, benefits, personnel management
- Government Operations and Politics
- Government trust funds
- Labor market
- Natural disasters
- Oil and gas
- Securities
Text 1
Each version as it was printed, newest first.
- Mar 4, 2021Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
