Monday, January 29, 2007

Sudanese divestment urged for Indiana

State Senator John Broden (D-South Bend) has authored Senate Bill 380, which would prohibit the investment of funds held by various state entities in institutions that are directly or indirectly involved in business with Sudanese companies, according to the Indiana Senate Democrat Caucus.

Senate Bill 380 would require that any investment of funds held by the public employees’ and teachers’ retirement fund or by a public officer of the state must not be with companies that loan money to, engage in business with or in or have invested in another company engaged in business with or in Sudan or its instrumentalities.

Affected institutions would be given three years to come into compliance with the legislation, according to the press release.

Six other states, including Illinois, have passed Sudanese divestment legislation.

Senate Bill 380 has been assigned to the Senate Committee on Commerce, Public Policy & Interstate Cooperation, where it awaits a hearing.

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