SB1146

THE CONTEXT: Currently, BOI, the ASRS board and the PSPRS board of trustees must each adopt a policy regarding countries identified as state sponsors of terrorism, and divest from companies that violate the Export Administration Act ( A. R.

WHAT THE BILL DID: The final vetoed version would require BOI to adopt a policy regarding Applicable Companies, instruct BOI to submit a copy of the policy to the President of the Senate and the Speaker of the House of Representatives, and require BOI's policy to include the procedure used to identify United States companies that donate to or invest in organizations that promote, facilitate or advocate for: a) Abortions for minors; and b) The inclusion of, or the referral of students to, sexually explicit material in grades K-12.

WHY IT MATTERED: The practical reason for this bill was to turn the Legislature's standard for divestment into an enforceable rule. It would require BOI to adopt a policy regarding Applicable Companies, and would also instruct BOI to submit a copy of the policy to the President of the Senate and the Speaker of the House of Representatives, rather than leave the current rule unchanged.