S T A T E   O F   N E W   Y O R K
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                                  6648

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             March 30, 2015
                               ___________

Introduced  by M. of A. PERRY -- Multi-Sponsored by -- M. of A. CLARK --
  read once and referred to the Committee on Governmental Employees

AN ACT to amend the state finance law, in relation to the investment  of
  certain  public  employee retirement funds in companies doing business
  in Sudan; and providing for the repeal of such provisions upon expira-
  tion thereof

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Legislative  findings  and declaration.   The legislature
finds that increased international efforts to end the crisis in  Sudan's
Darfur  region  must  be taken and concurs with the United States policy
which has officially declared that genocide is  ongoing  in  the  Sudan.
The legislature makes the following additional findings that:
  (1)  Significant  pressure  from  the United States government has not
convinced the Sudanese government to disassociate  itself  from  certain
repressive and terrorist factions;
  (2) The Sudanese government places severe limitations on the political
and  religious  freedoms  of  the  Sudanese  people despite promises and
pledges to end the twenty year civil war between the government and  the
Sudan People's Liberation Movement/Army;
  (3)  The Sudanese government 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 refugees;
  (4)  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;
  (5)  Severe  restrictions  are placed on freedoms of assembly, associ-
ation, movement, and speech and  the  government  actively  censors  the
press;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03291-01-5

A. 6648                             2
              

  (6)  Slavery  and slavery-like indentured servitude continues to exist
and the pro-government militia continues  to  engage  in  abduction  and
slavery with impunity; and
  (7) The 2002 Machakos Protocol, signed by the government and the Sudan
People's  Liberation  Movement/Army,  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.
  Therefore it is in the interest of this  state  that  the  legislature
declare  that  a  prohibition  be  enacted to prohibit the investment of
public employee retirement funds in companies doing  business  in  Sudan
until significant improvements in human rights are made.
  S  2. The state finance law is amended by adding a new section 98-d to
read as follows:
  S 98-D. INVESTMENT OF STATE EMPLOYEE BENEFIT FUNDS; LIMITATIONS.    1.
NOTWITHSTANDING  ANY RULE OR REGULATION TO THE CONTRARY, THE STATE COMP-
TROLLER, IN CONSULTATION WITH THE COMMISSIONER OF TAXATION AND  FINANCE,
SHALL  DIVEST  STATE  EMPLOYEE  PENSION OR ANNUITY FUNDS FROM ANY CORPO-
RATIONS, BANKS AND FINANCIAL INSTITUTIONS OR  THEIR  SUBSIDIARIES,  THAT
CONDUCT  BUSINESS  IN,  OR HAVE TIES TO SUDAN EITHER DIRECTLY OR THROUGH
ITS INSTRUMENTALITIES. NO STATE EMPLOYEE ASSETS SHALL BE INVESTED IN THE
STOCKS, SECURITIES OR OTHER OBLIGATIONS  OF  ANY  CORPORATION,  BANK  OR
FINANCIAL  INSTITUTION WHICH DIRECTLY OR THROUGH A SUBSIDIARY IS ENGAGED
IN BUSINESS IN OR WITH SUDAN OR ITS INSTRUMENTALITIES.
  2. THE COMPTROLLER AND COMMISSIONER OF TAXATION AND FINANCE SHALL TAKE
THE APPROPRIATE STEPS, AS SOON AS PRACTICABLE, TO SELL,  REDEEM,  DIVEST
OR  WITHDRAW ANY INVESTMENT HELD IN VIOLATION OF SUBDIVISION ONE OF THIS
SECTION.
  S 3. Within 60 days of the effective date of this act, the state comp-
troller and the commissioner of taxation and finance  shall  file,  with
the governor and the legislature, a report of all investments held which
are  in violation of the provisions of this act.  Every year thereafter,
the comptroller shall report on all investments sold, redeemed, divested
or withdrawn in compliance with this act. Each report after the  initial
report  shall include: a description of the progress which the state has
made since the previous report and since the enactment of  this  act  to
implement the provisions of this act.
  S  4.  This  act shall take effect on the thirtieth day after it shall
become a law and shall expire December 31, 2018 when upon such date  the
provisions of this act shall be deemed repealed.