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.





DR 4815/DI me

2008


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