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House Bill 1547


 

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House Bill 1547

ARCHIVE (2009)

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DIGEST OF HB1547 (Updated April 15, 2009 1:03 pm - DI 84)

Divestment of public pension investments. 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 a state that sponsors 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 a state that sponsors terror. (The introduced version of this bill was prepared by the pension management oversight commission.)
Current Status:
 Law Enacted
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