---
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: "HB 740"
citation: "Maryland HB 740 (2022)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Lierman"]
version_count: 3
action_count: 17
vote_count: 3
first_action: "2022-02-03"
last_action: "2022-04-09"
source: "openstates"
source_identifier: "ocd-bill/b84e247f-90ee-47ca-a192-8aca68922c95"
source_url: "http://mgaleg.maryland.gov/mgawebsite/Legislation/Details/hb0740?ys=2022RS&search=True"
source_hash: "bf79166a89612eb7717ee1d5d31c2a234a05c72b1b633c726e1e1fd7ab159305"
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 HB 740 (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_24_hb0740t.pdf)
2. **First - State Retirement and Pension System - Investment Climate Risk - Fiduciary Duties** (committee substitute) — [source](http://mgaleg.maryland.gov/2022RS/bills/hb/hb0740f.pdf)
3. **Third - State Retirement and Pension System - Investment Climate Risk - Fiduciary Duties** (committee substitute) — [source](http://mgaleg.maryland.gov/2022RS/bills/hb/hb0740t.pdf)

## Votes

- FLA Del. Chisholm /323124/1 — **47–82** (fail) · lower
- On Third Reading — **33–14** (pass) · upper
- On Third Reading — **94–41** (pass) · lower

## Sponsors

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

## Timeline

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

- **2022-02-03** First Reading Appropriations `referral-committee`
- **2022-02-03** Hearing 2/22 at 1:00 p.m.
- **2022-03-07** Favorable Report by Appropriations `committee-passage-favorable`
- **2022-03-08** Favorable Adopted `committee-passage-favorable`
- **2022-03-08** Second Reading Passed
- **2022-03-08** Motion Reconsider Second Reading (Delegate Chisholm) Adopted
- **2022-03-08** Motion Special Order until 3/9 (Delegate Chisholm) Adopted
- **2022-03-09** Floor Amendment {
- **2022-03-09** Second Reading Passed
- **2022-03-11** Third Reading Passed `passage`
- **2022-03-14** Referred Budget and Taxation `referral-committee`
- **2022-03-30** Favorable Report by Budget and Taxation `committee-passage-favorable`
- **2022-03-30** Favorable Adopted `committee-passage-favorable`
- **2022-03-30** Second Reading Passed
- **2022-03-31** Third Reading Passed `passage`
- **2022-03-31** Returned Passed
- **2022-04-09** Enacted under Article II, Section 17(b) of the Maryland Constitution - Chapter 24 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/b84e247f-90ee-47ca-a192-8aca68922c95`. Confidence: reported (aggregated from official Maryland legislature records).