Printer FriendlyAmendment 21mb
AMENDMENT FOR PRINTED BILL
___________________ moved that SB 21 be amended as follows:
On page 1, line 10, of the printed bill, delete "and the State Investment Council may not invest".
On page 1, line 11, delete "member trust funds in any manner".
On page 1, line 11, delete "are" and insert "is".
On page 2, line 2, delete "pure" and insert "maximum risk-adjusted".
On page 2, line 11, after "." insert "The State Investment Council shall invest member trust
funds in a manner that is solely designed to provide for the exclusive benefit of the members and
benefit recipients of the system. However, the foregoing provisions notwithstanding, the State
Investment Council shall establish a Shareholder Activism Policy to engage and promote compliance
with federal divestiture enactments by the United States House of Representatives or the United
States Senate, specifically including the enactments' effect in regard to Royal Dutch Shell, Petrobras,
and Total, and to recognize the risks associated with companies doing business in the countries
identified. The State Investment Council shall report semi-annually and fifteen months after the
effective date of this Act on council actions related to the Shareholder Activism Policy. The report
shall include an analysis of the success of the policy in accomplishing the goal of promoting
compliance with the federal enactments and its impact on all sales of affected companies.
The Legislature may express its concerns about investments related to terrorism, genocide, or
other atrocities recognized by the United States House of Representatives or the United States Senate
through resolutions advising the State Investment Council to activate its Shareholder Activism