---
type: "Bill"
title: "State Retirement and Pension System – Investment Climate Risk – Fiduciary Duties"
description: "State Retirement and Pension System – Investment Climate Risk – Fiduciary Duties"
jurisdiction: "us/states/md"
legislature: "Maryland General Assembly"
session: "2022"
identifier: "SB 566"
citation: "Maryland SB 566 (2022)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Elfreth"]
version_count: 3
action_count: 19
vote_count: 3
first_action: "2022-02-01"
last_action: "2022-04-09"
source: "openstates"
source_identifier: "ocd-bill/070d9a9f-730d-4571-93e5-ea9fe8522856"
source_url: "http://mgaleg.maryland.gov/mgawebsite/Legislation/Details/sb0566?ys=2022RS&search=True"
source_hash: "c0dd5f009713fe541b9a521ee658b068a18143d0373ee74b7e7e5b8443722f1c"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-md"]
---

# Maryland SB 566 (2022) — State Retirement and Pension System – Investment Climate Risk – Fiduciary Duties

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Chapter - State Retirement and Pension System – Investment Climate Risk – Fiduciary Duties** (committee substitute) — [source](http://mgaleg.maryland.gov/2022RS/Chapters_noln/CH_25_sb0566t.pdf)
2. **First - State Retirement and Pension System – Investment Climate Risk – Fiduciary Duties** (committee substitute) — [source](http://mgaleg.maryland.gov/2022RS/bills/sb/sb0566f.pdf)
3. **Third - State Retirement and Pension System – Investment Climate Risk – Fiduciary Duties** (committee substitute) — [source](http://mgaleg.maryland.gov/2022RS/bills/sb/sb0566t.pdf)

## Votes

- Floor Amendment Cassilly /433824/1 — **16–30** (fail) · upper
- On Third Reading — **94–40** (pass) · lower
- On Third Reading — **33–14** (pass) · upper

## Sponsors

- Chair, Joint Committee on Pensions — primary (organization)
- Elfreth — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2022-02-01** First Reading Budget and Taxation `referral-committee`
- **2022-02-01** Hearing 2/24 at 9:00 a.m.
- **2022-02-10** Hearing canceled
- **2022-02-10** Hearing 2/24 at 8:30 a.m.
- **2022-03-07** Favorable Report by Budget and Taxation `committee-passage-favorable`
- **2022-03-08** Favorable `committee-passage-favorable`
- **2022-03-08** Motion Special Order until 3/9 (Senator Simonaire) Adopted
- **2022-03-10** Favorable Adopted `committee-passage-favorable`
- **2022-03-10** Floor Amendment {
- **2022-03-10** Second Reading Passed
- **2022-03-14** Third Reading Passed `passage`
- **2022-03-15** Referred Appropriations `referral-committee`
- **2022-03-23** Hearing 3/29 at 1:00 p.m.
- **2022-03-29** Hearing canceled
- **2022-03-29** Favorable Report by Appropriations `committee-passage-favorable`
- **2022-03-29** Favorable Adopted Second Reading Passed `committee-passage-favorable`
- **2022-03-30** Third Reading Passed `passage`
- **2022-03-31** Returned Passed
- **2022-04-09** Enacted under Article II, Section 17(b) of the Maryland Constitution - Chapter 25 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/070d9a9f-730d-4571-93e5-ea9fe8522856`. Confidence: reported (aggregated from official Maryland legislature records).