S T A T E O F N E W Y O R K
________________________________________________________________________
3806
2009-2010 Regular Sessions
I N A S S E M B L Y
January 28, 2009
___________
Introduced by M. of A. CAMARA, KELLNER, J. RIVERA, MAISEL, JACOBS, JOHN,
STIRPE, ALFANO, SCOZZAFAVA, SPANO, ESPAILLAT, DINOWITZ, PERALTA, WALK-
ER, JEFFRIES -- Multi-Sponsored by -- M. of A. BACALLES, BARRA, DIAZ,
GLICK, GOTTFRIED, GUNTHER, KOLB, MARKEY, MILLMAN, NOLAN, O'DONNELL,
PAULIN, ROSENTHAL, SWEENEY, THIELE, WEISENBERG -- read once and
referred to the Committee on Governmental Employees
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
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Legislative findings. The legislature finds and declares
that:
a. It is deeply concerned over the poor human rights situation in
Sudan, calls for stepped-up international efforts to end the crisis in
Sudan's Darfur region and concurs with United States policy which has
officially declared that genocide is ongoing in Sudan;
b. Despite significant pressure from the United States government, the
government of Sudan has not taken all the necessary actions to disasso-
ciate itself fully from its ties to terrorism;
c. The government of Sudan places severe limitations on the political
and religious freedoms of the Sudanese people despite promises of
improvement and pledges to end the 20-year civil war between the govern-
ment and the Sudan People's Liberation Movement/Army;
d. The government of Sudan violates the rules of war by deliberately
attacking civilians and, since 1983, the war and famine-related effects
have led to more than two million deaths and over four million people
displaced;
e. The government of Sudan continues to engage in arbitrary arrest,
prolonged detention, extra-judicial killings, torture and rape of the
Sudanese people and apostasy from Islam is punishable by death;
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06284-01-9
A. 3806 2
f. Severe restrictions are placed on the freedoms of assembly, associ-
ation, movement, and speech and the government actively censors the
press;
g. The most sobering violation of human rights in Sudan is the exist-
ence of slavery or slavery-like indenture and the pro-government militia
continues to engage in abduction and slavery with impunity;
h. The 2002 Machakos Protocol, signed by both sides in the civil war
in Sudan, has recognized that "Sudan is a multi-cultural, multi-racial,
multi-ethnic, multi-religious, and multi-lingual country," and that
there "shall be freedom of belief, worship and conscience for followers
of all religions or beliefs or customs and no one shall be discriminated
against on such grounds" once a peace agreement is signed; and
i. It is in the best interest of this state that a statutory prohibi-
tion be enacted to prohibit the investment of public pension funds in
companies doing business in Sudan given the poor human rights situation
in Sudan and the lack of signs of improvement.
S 2. The retirement and social security law is amended by adding a new
section 177-e to read as follows:
S 177-E. INVESTMENT BARRED IN SUDAN. 1. THE TRUSTEE OR TRUSTEES OF A
FUND SHALL NOT MAKE ANY INVESTMENT IN ANY SECURITY, OBLIGATION, MORT-
GAGE, BOND OR NOTE OF ANY BANK, FINANCIAL INSTITUTION OR OTHER ENTITY,
OR OF ANY SUBSIDIARY THEREOF, WHICH IS ENGAGED IN BUSINESS IN OR WITH
SUDAN OR ITS INSTRUMENTALITIES.
2. EVERY SUCH TRUSTEE OR TRUSTEES SHALL, WITHIN SIXTY DAYS OF THE
EFFECTIVE DATE OF THIS SECTION, TAKE APPROPRIATE ACTION TO SELL, REDEEM,
DIVEST OR WITHDRAW ANY INVESTMENT MADE PRIOR TO THE EFFECTIVE DATE OF
THIS SECTION WHICH IS IN VIOLATION OF SUBDIVISION ONE OF THIS SECTION.
S 3. This act shall take effect immediately.