Labor and Economic Development

Divestment in Sudan

Growing concern over genocide in Sudan has prompted state legislatures to consider actions to limit or eliminate state investments in firms doing business with the Sudan. Legislation includes total divestment of the states interests in firms doing business in Sudan, targeted divestment focused on specific firms and shareholder engagement strategies. The following charts summarize select enacted legislation from 2005 and 2006 and bills introduced in the 2007 session. This chart will be updated throughout the year.

Public Law // 2007 // 2006 // 2005 // Additional Resources // NCSL Contacts // Illinois District Court Ruling
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Last Update: March 6, 2007

Public Law

STATE

BILL

LAST
ACTION

BRIEF SUMMARY

California
ACR 11
Resolution Chapter No. 98

Download PDF Version
8/30/05 Urges the Public Employees' Retirement System to ensure
that no public employee retirement funds are invested in
companies doing business in Sudan

AB 2179
Chaptered by the
Secretary of State;
Chapter No. 441

Download PDF Version
9/25/06 Provides indemnification for current or former regents, officers,
employees, and contractors of the University of California for
all claims, demands, suits, actions, damages, judgments, costs,
charges, and expenses, including court costs and attorney's fees,
and all liability, losses, and damages of any nature whatsoever that
these persons may at anytime sustain by reason of any decision of
the regents not to invest in any firm or firms involved in business with
the Sudanese government

AB 2941
Chaptered by the
Secretary of State;
Chapter No. 442

Download PDF Version
9/25/06 Prohibits the Public Employees' Retirement System and the State
Teachers' Retirement System from investing in a company with
business operations in Sudan. Requires the Board of Administration
for both systems to sell or transfer any investments in a company
with business operations in Sudan. Requires the boards to report
to the Legislature any such investments and the sale or transfer of
the same.

AJR 6
Resolution Chapter No. 57

Download PDF Version
6/27/05 Relates to matters surrounding the Darfur genocide, and requests that
the President and Congress of the United States continue to take all
prudent and necessary steps to ensure that these matters are addressed
at the highest levels of the federal government

Connecticut
HB 5632
Public Act No. 51

Download PDF Version
5/8/06 Provides for divestment of state funds invested in companies doing
business in Sudan; enables the State Treasurer to divest state funds
invested in companies doing business in Sudan; extends the deadline
for a final audited report; requires a listing of the companies from which
state funds were diverted and any companies from which investment of
state funds has been declared impermissible by the Treasurer

Illinois
SB 23
Public Act No. 94-79

Download PDF Version

District Court Ruling

6/7/05

2/23/07

Amends the Deposit of State Moneys Act. Provides the State Treasurer
may not deposit any funds or otherwise transact any business with any
financial institution unless an expressly authorized officer of the financial
institution certifies the institution has not loaned to or invested in certain
entities involved with the Republic of Sudan. Amends the Pension Code.
Provides that a fiduciary under that code shall not transact any business
with a company that engages in activities with the Republic of Sudan

Provides that a fiduciary under that code shall not transact any
business with a company that engages in activities with the
Republic of Sudan. The Federal District Court for the Northern
District of Illinois rules Public Act No. 94-79 unconstitutional

Maine SB 675
Public Law No. 537 5/5/06 Requires the State Retirement System to divest itself of any holdings
in the nation of Sudan due to its extreme human rights violations

New Jersey
AB 3482/SB 2145
Chapter 162

Download PDF Version
7/28/05 Requires the Division of Investment in the Department of the Treasury
to divest State-administered pension fund investments from foreign
companies that have ties to, or activities in, Sudan or its
instrumentalities. The bill authorizes the State Treasurer to select an
independent research firm that specializes in global security risk for
portfolio determinations to make recommendations to the
Division of Investment.

Oregon
SB 1089

8/5/05 Requires Oregon Investment Council and State Treasurer to divest all
investments in Republic of the Sudan and in companies that do business
in Republic of the Sudan or engage in other activities related to Republic
of the Sudan. Declares emergency, effective on passage

2007

STATE

BILL

LAST
ACTION

BRIEF SUMMARY

Colorado
HB 1184

Download PDF Version
2/16/07 Concerns divestment by certain governmental entities against companies
financially involved with the government of Sudan.

Georgia
HB 160

Download PDF Version
1/26/07 Relates to state government, so as to prohibit the Office of Treasury and
Fiscal Services from making certain deposits in certain financial institutions
unless the financial institution has certified that it does not have any direct
loans or knowledge of any indirect loans to certain entities connected with
the Republic of Sudan; to provided that a state agency may not procure
certain supplies that are produced or manufactured in the Republic of
Sudan.

HB 256

Download PDF Version
2/2/07 Relates to general provisions relative to retirement and pensions, so as to
provide that no public retirement system shall invest funds in public
obligations of companies

HR 273

Download PDF Version
2/20/07
Urges Congress to continue to press for strong measures to end the
violence in Sudan and urging the Securities and Exchange Commission
to provide guidance to public pension fund managers in order to avoid
investments which may be supporting nations involved in the support of
terrorism or human rights violations; and or other purposes.

Hawaii HB 34 2/21/07 Prohibits the Employees' Retirement System from acquiring securities of
companies that have active business operations with Sudan; relates to
Darfur divestment

HB 1117

similar bill: SB 1255
(last action: 1/26/07)
2/5/07 Requires the Employees' Retirement System to divest itself of investments
in companies that provide significant support for genocide in Sudan; allows
reinvestment; provides exemptions; requires reporting; authorizes
enforcement by the Attorney General; sunsets when the Darfur genocide
ends or divestment interferes with U.S. foreign policy

Illinois SB 99 1/31/07 Amends the Illinois Pension Code. Repeals a provision prohibiting a fiduciary
of a retirement system or pension fund from transacting business with certain
entities associated with the Republic of Sudan

Indiana
HB 1484

Download PDF Version
2/19/07
Requires the Public Employee's Retirement Fund (PERF) and the state
Teachers' Retirement Fund (TRF) to contact, in the capacity of shareholders,
companies with certain business activities in Sudan, and request that
the companies cease those business activities; prohibits PERF and TRF
from investing in those companies that are unresponsive to the requests;
provides that PERF and TRF are required to sell or transfer any such
investments

SB 380 1/11/07 Prohibits the investment of funds held by a public officer of the state, the
public employees' retirement fund, or the teachers' retirement fund with
an institution that: (1) has loans to; (2) is engaged in business with or in;
or (3) has invested in another company engaged in business with or in;
Sudan or its instrumentalities. Requires the sale within three years of any
investments that violate the prohibition

Iowa SSB 1106 1/25/07 Concerns investment of certain public funds in companies doing business
in Sudan by the Treasurer of State, the Iowa Public Employees Retirement
System and the State Board of Regents.

Kentucky HB 25 1/3/07
Relates to investment of state funds; prohibits the Judicial Retirement Fund,
the Teacher’s Retirement System Board, the State Investment Commission,
and the Kentucky Retirement Systems Board from investing in companies
relating to the Sudan and require that they divest themselves of investments
in companies investing in the Sudan

HCR 16 1/3/07 Urges the Congress of the United States to continue to press for strong
measures to end the violence in the Sudan and urging the Securities
Exchange Commission to provide guidance for fund managers in order to
avoid investments which may be supporting nations involved in the
support of terrorism or human rights violations; urges the United States
Congress to pressure Sudan to end Darfur atrocities; urges the SEC to
issue guidance to investors concerning pension plans and other investments.

New York AB 268 1/3/07 Prohibits the investment of public employee retirement funds in companies
doing business with the Republic of Sudan or its instrumentalities;
requires divestiture of currently invested funds

Oklahoma HB 1900 2/6/07 Prohibits companies conducting business with the state from also
conducting business with the Darfur region of western Sudan for so long
as genocide continues

Pennsylvania
HR 36

similar bills:
SR 16
(last action: 1/29/07)

SR 17
(last action: 1/29/07)
1/30/07 Establishes a select committee to study potential courses of action for
Commonwealth departments, agencies and pension systems that make
investments in, procure goods and services from or otherwise do business
with companies conducting business in or with the Republic of Sudan

Rhode Island
HB 5142

Download PDF Version

similar bill: SB 87
(last action: 1/23/07)
Download PDF Version
2/14/07 Would limit state investment in the country of Sudan and in companies that
provide supplies and services to the government of the Sudan. The act
would set forth the criteria for determining a "scrutinized company" which has
ties to the Sudanese government and/or the Darfur genocide.

South Carolina SB 241 1/9/07 Requires the Retirement System Investment Commission to divest its
portfolio of investments in companies that in their operations are complicit
with the Government of Sudan in the Darfur genocide; prohibit future
investments by the commission of such companies; provides definitions
and procedures relating to the implementation of these requirements

Texas HB 419 2/1/07 Relates to divestment by the Employees Retirement System of Texas
and the Teacher Retirement System of Texas of certain investments related
to the Republic of Sudan

HB 667

similar bill: SB 247
(last action: 2/21/07)
2/6/07 Prohibits the investment of state funds in certain private business entities
doing business in Sudan

Virginia
HB 1828

Download PDF Version

similar bills:

HB 2869
(last action: 2/6/07)

SB 1331
(last action: 2/22/07)
- House substitute
2/6/07 Requires the Virginia Retirement System, under certain circumstances,
to divest itself of investments in companies meeting certain criteria
gauged to be related to the genocide in the Darfur region of Sudan

Wisconsin SB 57
Download PDF Version
2/21/07 Prohibits the Wisconsin Investment Board from making certain future
investments and requires the board to divest itself of prior investments
relating to Sudan

Wyoming
HB 245

Download PDF Version
1/19/07 Relates to investment of state funs; provides that state funds shall not be
invested in Sudan; provides exemptions; provides a sunset clause

2006

STATE

BILL

LAST
ACTION

BRIEF SUMMARY

Georgia SB 655 3/3/06 Relates to State Government; prohibits the Office of Treasury and
Fiscal Services from making certain deposits in certain financial institutions
unless the financial institution has certified that it does not have any direct
loans or knowledge of any indirect loans to certain entities connected with
the Republic of Sudan

HB 964 1/12/06 Relates to state government so as to prohibit the Office of Treasury and
Fiscal Services from making certain deposits in certain financial institutions
unless the financial institution has certified that it does not have any direct
loans or knowledge of any indirect loans to certain entities connected with
the Republic of Sudan; defines a certain term

HB 1278 2/8/06 Relates to general provisions relative to retirement and pensions, so as to
provide that no public retirement system shall invest funds in public
obligations of companies doing business with or in the Republic of Sudan

HB 1280 2/8/06 Relates to state government, so as to prohibit the Office of Treasury and
Fiscal Services from making certain deposits in certain financial institutions
unless the financial institution has certified that it does not have any direct
loans or knowledge of any indirect loans to certain entities connected with
the Republic of Sudan.

Hawaii HR 184 4/3/06 Condemns the genocide in Western Sudan and urging Congress with the
support of the President to engage the international community to take action
to protect the people of Darfur

HCR 243 4/20/06 Condemns the genocide in Western Sudan and urging Congress with the
support of the President to engage the international community to take action
to protect the people of Darfur

SR 109 3/21/06 Condemns the genocide in Western Sudan and urging Congress with the
support of the President to engage the international community to take
action to protect the people of Darfur

Illinois HB 5574 2/17/06 Prohibits investments in any entity other than a qualified private market fund.
Defines a qualified private market fund as a private market fund that will not
knowingly invest assets of a retirement system or pension fund in any company
that (i) has facilities or employees in the Republic of the Sudan or (ii) conducts
a commercial business in the Republic of the Sudan

Indiana SB 212 1/9/06 Prohibits the investment of funds held by a public officer of the state, the
public employees' retirement fund, or the teachers' retirement fund with an
institution that has loans to, is engaged in business with or in, has invested
in another company engaged in business with or in Sudan or it's instrumentalities

Iowa SB 2241 2/3/06 Prohibits investment of certain public funds in companies doing business
in Sudan by the Treasurer of State, the Iowa Public Employees' Retirement
System, and the State Board of Regents

Kansas SR 1813 2/22/06 Urges divestiture of investments in Sudan

Maryland HB 1001 2/9/06 Provides that external investment managers selected by the Board of Trustees
for the State Retirement and Pension System may not invest State Retirement
and Pension System funds in public obligations of companies having an equity
tie to the government of the Republic of Sudan or its instrumentalities;
requires the Board of Trustees to review recommendations submitted to the
Board of Trustees by a research consulting firm

Massachusetts SB 2166 7/24/06 Relates to the prohibition of investment of certain public funds in companies
doing business in Sudan (Amended by substitution of new draft.
For further action see SB 2659)

SB 2659 7/24/06 Relates to the prohibition of investment of certain public funds in companies
doing business in Sudan

Minnesota HB 3822 3/22/06 Prohibits the investment of public employee retirement funds in foreign
companies doing business in Sudan; provides no assets under the State Board
of Investment shall be invested in any foreign company with an equity tie to the
government of Sudan or its instrumentalities and is engaged in business in or
with the same; requires the board to sell, redeem, divest, or withdraw any
investment held in violation of these provisions

HB 4057 3/30/06 Requires the State Board of Investment to monitor state investments in
corporations, or their subsidiaries, that are doing business in Sudan and
to determine whether each corporation has taken affirmative action to
improve human rights in Sudan using specified considerations for using
certain religious or ethnic groups at all levels of its work force, provides
employee security for those groups, and placing pressure on Sudan to
end genocide in the Darfur region

SB 3616 4/3/06 Requires the State Board of Investment to compile a list of corporations
with an equity tie to Sudan and in whose stocks or obligations the board
has invested, and to sponsor, cosponsor, or support shareholder resolutions
designed to encourage such corporations to divest equity ties in Sudan;
requires the board to develop and implement a strategy to urge those
corporations to divest equity ties in Sudan

New Hampshire HR 13 2/2/06 Condemns the genocide in the Darfur region of the Sudan and urges
Congress, with the support of the President, to pass the Darfur
Accountability Act and the Darfur Genocide Accountability Act

New York AB 6079 1/11/06 Requires the State Comptroller and Commissioner of Taxation
and Finance to divest state employee benefit funds from
businesses in or associated with Sudan

AB 11116 5/2/06 Prohibits the investment of public pension funds in entities
doing business in Sudan

AB 11519 5/24/06 Prohibits the investment of public employee retirement funds
in companies doing business with the Republic of Sudan or its
instrumentalities; requires divestiture of currently invested funds

Pennsylvania
HR 741

Adobe PDF Download PDF Version
5/1/06 Urges the President and the Congress of the United States to
take immediate action in assisting with the peacekeeping mission
and efforts to resolve the conflict in the Darfur region of Sudan

SR 301

Download PDF Version
5/2/06 Urges the President and the Congress of the United States
to bring humanitarian assistance and lasting peace to the Darfur region

Rhode Island SB 2971 5/23/06 Would require divestment by the state from companies which
maintain an equity tie to Sudan

Texas HB 419 12/8/06 Relates to divestment by the Employees Retirement System of Texas
and the Teacher Retirement System of Texas of certain investments
related to the Republic of Sudan

HR 341 5/12/06 Expresses support for the immediate intervention in the crisis in Darfur,
Sudan by the United States and United Nations

Washington HJM 4024 1/9/06 Calls on the President to provide a solution to the crisis in Sudan

SJM 8030 2/1/06 Urges the President of the United States to use all political and economic
means necessary to bring about a peaceful solution to the crisis in Darfur
and stop the deaths of thousands of innocent people

2005

STATE

BILL

LAST
ACTION

BRIEF SUMMARY

Hawaii SR 112 4/15/05 Requesting Hawaii’s Congressional delegation to sponsor,
actively support and vote for the Darfur Accountability Act of 2005

Illinois HJR 56 5/30/05 Urges President George W. Bush and United Nations
Secretary General Kofi Annan to recognize the conflict in
the Darfur region of the Sudan as genocide and to intervene
and urges President Bush to send humanitarian aid to the Sudan

Michigan
HR 54

Download PDF Version
4/20/05 Memorializes the Congress of the United States and the
State Department to increase efforts to halt the violence and
to provide humanitarian assistance in the Darfur region of Sudan

New York SB 5723 6/16/05 Relates to prohibiting investment of funds of the common
retirement fund in companies doing business in Sudan;
requires divestiture of any such investments within 3 years

Vermont SJR 24 5/5/05 Urges State and federal actions to punish the Sudanese
government and corporations that conduct business in or
with Sudan

Additional Resources
*NOTE: NCSL provides links to other Web sites from time to time for information purposes only. Providing these links does not necessarily indicate NCSL's support or endorsement of the site.

National Foreign Trade Council
Sudan Divestment Task Force
"Israel's Netanyahu asks U.S. Pension Fund to Quit Iran" Reuters, January 23, 2007

NCSL Contacts

Additional references to enacted laws and pending legislation are appreciated and should be forwarded to Gerri Madrid Davis or Diana Noel.

Link to Labor and Economic Development Committee