HB 151/LM/AA (BR 108) - S. Riggs, T. Riner, B. Yonts
AN ACT relating to divestiture of investments in companies doing business in Sudan and declaring an emergency.
Create new sections of KRS Chapter 61 to define terms; require the State Investment Commission, the Judicial Retirement Board, the Kentucky Retirement Systems Board, and the Kentucky Teachers Retirement Board to identify those companies with which it has direct holdings that are doing business in the Sudan, and to compile those companies into a list; require the boards to send written notice to the companies on the list that they may become subject of divestment and outline the steps available to the companies to be removed from the list; require the boards to file a written report to the United States Attorney General detailing the requirements of this Act, and to the Governor, the Legislative Research Commission, and the other public funds information regarding their actions relating to the companies on the list; clarify that a public fund has no obligation to take action under this Act upon certain occurrences; authorize a public fund to take any action necessary to comply with this Act notwithstanding any other provisions of law; indemnify board members, and officers, agents, and employees of the boards for their good faith actions under this Act; require the Commonwealth to reimburse the public funds for their net losses as a result of compliance with this Act; EMERGENCY.
Jan 4-introduced in House
Jan 5-to State Government (H)