Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Investment Policy topic
No spam. Unsubscribe anytime.
Committee approves Foreign Adversary Divestment Act for state-managed funds
Summary
House Bill 1561 would require state-managed funds to divest from or avoid investments in designated foreign adversaries; the committee passed the bill 8-0 after the sponsor described it as a requirement for state-managed funds.
The House Committee on Banking, Financial Services and Pensions voted 8-0 to pass House Bill 1561, the Foreign Adversary Divestment Act, which the sponsor described as requiring state-managed funds to stop investing in foreign adversaries.
Representative Duel (spelled "Deuel" in remarks) explained the bill in brief: "House Bill 15 61 creates the Foreign Adversary Divestment Act. Essentially, what it does is it requires state managed funds to no longer invest in foreign adversary." There was little debate on the record and the committee recorded unanimous support.
The transcript shows the bill advanced out of committee by an 8-0 vote; implementation specifics such as lists of designated adversary countries or mechanisms for divestment were not discussed in the excerpt provided.
