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House passes SB112 to bar future Utah Retirement System investments in specified Iranian petroleum companies
Summary
The Utah House voted 63-3 to approve Senate Bill 112, a prospective ban on new Utah Retirement Systems investments in certain foreign companies tied to Iran's petroleum sector. Sponsors said the change is targeted and prospective; opponents warned of possible portfolio losses borne by retirees.
The Utah House on March 8 approved Senate Bill 112, a measure that prohibits future investments by the Utah Retirement Systems in certain foreign companies tied to Iran's petroleum sector, passing the bill 63-3 and returning it to the Senate for action.
Representative Julie Fischer, the House sponsor, told colleagues the bill is "prospective only" and "we're not truly divesting. We're just saying no further investments," stressing the measure targets direct holdings in petroleum companies rather than mutual or commingled funds. Fischer said the bill had unanimous…
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