Senate Bill 0562
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DIGEST OF SB 562 (Updated February 11, 2009 12:51 pm - DI 102)
Divestment from states that sponsor terror. Requires the public employees' retirement fund (PERF) and the state teachers' retirement fund (TRF), in the capacity of shareholders, to contact companies with certain business activities in states that sponsor terror and request that the companies cease those business activities or convert the business activities to inactive business operations. Requires PERF and TRF to sell, redeem, divest, or withdraw investments in a company that is unresponsive to the requests. Prohibits PERF and TRF from acquiring securities of certain companies that have active business operations in a state that sponsors terror. Provides for certain exceptions for social development companies operating in a state that sponsors terror. Requires PERF and TRF to report to the general assembly any investments with a company with business operations in states that sponsor terror.
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Conference Committee Reports