Prohibits the investment of public pension funds in entities doing business in Sudan

BILL NUMBER:S3932

Title of bill

An act to amend the retirement and social security law, in relation to prohibiting the investment of public pension funds in any entity doing business in Sudan

Purpose or general idea of bill

This bill would prohibit the investment of public pension funds in entities doing business in Sudan, and would require any trustee or trustees of Sudanese investment to withdraw any such investments within sixty days of effective date.

Justification

This bill is proposed in response to the ongoing genocide in the Sudan. The Sudanese government has not fulfilled previously made promises to end the 20-year civil war between the government and the Sudan People's Liberation Movement/Army, and continues to severely limit the religious freedom of the Sudanese people. The Sudanese government further infringes upon basic human rights by engaging in arbitrary arrest, prolonged detention, extra-judicial killings, torture and rape, as well as failing to put an end to the slavery and slavery-like indenture of the Sudanese people. In addition the government violates the rules of war by deliberately attacking civilians, and is responsible for the war and famine-related effects that have led to more than two million deaths and the displacement of over four million people. This bill is an effort to end the genocide in Sudan, especially in the Dar Fur region, by cutting off funding from New York investment. By amending the retirement and social security law and prohibiting Sudanese investment, a message is sent to the Sudanese government that reiterates the American position against the genocide in Sudan.

Prior legislative history

2010: S.2951 Held in Civil Service and Pensions 02/08/07 Referred to Governmental Employees 01/09/08 Referred to Governmental Employees

Effective date

This act shall take effect immediately.