Introduced Version
HOUSE
RESOLUTION No. ___
Introduced by:
Bauer
____________________________________
A RESOLUTION urging the legislative council to study
divesting Indiana's public pension funds from terror sponsoring
states.
Whereas,
Hoosiers should feel comfortable that
Indiana
's public pension funds are not directly or indirectly
supporting
nation
s
and groups
that sponsor terrorist acts
,
kill Americans in Iraq and Afghanistan
,
and threaten our
national security and the security of our allies;
Whereas, T
error-
sponsoring states are able to
continue with impunity their support for terrorism and
pursuit of weapons of mass destruction due to the revenues,
technology and moral cover provided by
some
prominent,
pu
blicly-
traded Western companies;
Whereas, By enabli
ng these actions, Americans are
squandering economic leverage that could be used to help
solve critical national security issues;
Whereas, In 2007 the Indiana General Assembly
used
divestiture as a policy tool
when it enacted HEA 1067 which
calls for Indiana
's public pension funds to reject investments
in companies doing business with Sudan due to the ongoing
genocide;
Whereas,
Divestiture from markets that are
vulnerable to embargo, loan restrictions, and sanctions from
the United States and the international community, including
the United Nations Security Council, is in accordance with
the rules of prudence; and
Whereas,
Divestiture should be considered with the
intent to improve investment performance and, by the rules of
prudence, fiduciaries must take into account all relevant
substantive factors in arriving at an investment decision;
Therefore:
Be it resolved by the House of Representatives of the
General Assembly of the State of Indiana:
SECTION 1. The Indiana House of Representatives urges the
legislative council to add the issue of divesting Indiana's public
pension funds from terror-sponsoring states to the charge of the
Pension Management Oversight Committee.