MS HB325 | 2012 | Regular Session

Status

Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on March 6 2012 - 100% progression
Action: 2012-03-06 - Died In Committee
Text: Latest bill text (Introduced) [HTML]

Summary

An Act To Create New Section 25-11-122, Mississippi Code Of 1972, To Direct The Board Of Trustees Of The Public Employees' Retirement System To Issue Requests For Proposals To Investment Managers For The Establishment Of International Equity Investment Strategies That Identify And Exclude All Global Security Risk Prohibitive Companies; To Define "global Security Risk Prohibitive Companies" As Companies That Have Business Ties In Iran, North Korea, Syria Or Sudan; To Direct The Board To Select Investment Managers For Its International Equity Holdings That Are Best Suited To Manage International Equity Portfolios While Excluding Global Security Risk Prohibitive Companies; To Amend Sections 25-11-121 And 25-11-145, Mississippi Code Of 1972, To Provide That The International Equity Holdings Of The Public Employees' Retirement System Shall Not Include Global Security Risk Prohibitive Companies; To Provide An Exemption From This Requirement For Companies That Are Certified As Nongovernmental Organizations By The United Nations Or That Engage Solely In The Provision Of Goods And Services That Relieve Human Suffering Or Promote Health Or Religious, Spiritual, Educational, Humanitarian Or Journalistic Activities In The Specified Countries; To Require Divestiture Of Global Security Risk Prohibitive Companies From The Assets In The International Equity Portfolios Managed By The Investment Managers Selected Under This Act, In Accordance With A Certain Schedule; To Prohibit All Other State Agencies And Political Subdivisions From Investing Public Funds In Any Companies Or Other Entities That Have Direct Financial Relationships With Terrorist Sponsoring Nations; And For Related Purposes.

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Title

Retirement; prohibit PERS and other agencies from holding equity investments in companies with business ties in certain countries.

Sponsors


History

DateChamberAction
2012-03-06 Died In Committee
2012-02-13 Referred To Appropriations

Mississippi State Sources


Bill Comments

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