Bill Text: AZ HCR2040 | 2016 | Fifty-second Legislature 2nd Regular | Introduced

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Bill Title: State monies; prohibited investments; terrorism

Spectrum: Partisan Bill (Republican 27-0)

Status: (Introduced - Dead) 2016-02-24 - House Committee of the Whole action: Retained on the Calendar [HCR2040 Detail]

Download: Arizona-2016-HCR2040-Introduced.html

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REFERENCE TITLE: state monies; prohibited investments; terrorism

 

 

 

 

State of Arizona

House of Representatives

Fifty-second Legislature

Second Regular Session

2016

 

 

HCR 2040

 

Introduced by

Representatives Montenegro, Allen J, Borrelli, Boyer, Campbell, Cobb, Fann, Finchem, Gowan, Kern, Leach, Livingston, Mitchell, Stevens, Weninger, Senators Allen S, Barto, Burges, Farnsworth D, Kavanagh, Smith, Yarbrough: Representatives Gray, Norgaard, Olson, Petersen, Senator Shooter

 

 

A CONCURRENT RESOLUTION

 

proposing an amendment to the constitution of Arizona; amending article IX, constitution of arizona, by adding section 25; relating to public investments.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it resolved by the House of Representatives of the State of Arizona, the Senate concurring:

1.  Article IX, Constitution of Arizona, is proposed to be amended by adding section 25 as follows if approved by the voters and on proclamation of the Governor:

START_STATUTE25.  Prohibited investment of public monies

Section 25.  A.  This state, a public retirement system, a county, a city, a town or any other political subdivision of this state may not contract with or invest in any individual, partnership, corporation or other legal entity that is invested in or doing business with the government of a country that is designated by the United States department of state on or after January 1, 2015 as a state sponsor of terrorism.

B.  Any contract or investment that is in effect on the effective date of this section and that is in violation of subsection A of this section may not be renewed and shall be cancelled or divested at the earliest prudent opportunity, except that the contract or investment shall be cancelled or divested on or before December 31, 2018.

C.  The prohibition in subsection A of this section does not apply to any country that is designated by the United States department of state on or after January 1, 2015 as a state sponsor of terrorism if both of the following occur:

1.  The United States department of state removes the country's designation as a state sponsor of terrorism.

2.  A measure removing the prohibition in subsection A of this section in regard to the country is passed by the legislature and approved by the governor as prescribed in this constitution. END_STATUTE

2.  The Secretary of State shall submit this proposition to the voters at the next general election as provided by article XXI, Constitution of Arizona.