House Bill 319

AN ACT TO CREATE NEW SECTION 25-11-122, MISSISSIPPI CODE OF 1972, TO REQUIRE THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO IDENTIFY ALL COMPANIES IN WHICH FUNDS OF THE SYSTEM ARE INVESTED THAT ARE MAKING INVESTMENTS THE PETROLEUM SECTOR OF IRAN; TO REQUIRE THE BOARD OF TRUSTEES TO CREATE AND MAINTAIN A SCRUTINIZED COMPANY LIST THAT NAMES ALL OF THOSE COMPANIES; TO REQUIRE THE BOARD OF TRUSTEES TO PERIODICALLY CONTACT ALL SCRUTINIZED COMPANIES AND ENCOURAGE THEM TO REFRAIN FROM ENGAGING IN CERTAIN TYPES OF INVESTMENTS IN IRAN; TO REQUIRE THE BOARD OF TRUSTEES TO INFORM SCRUTINIZED COMPANIES OF THEIR STATUS AS A SCRUTINIZED COMPANY AND TO ASK FOR CLARIFICATION AS TO THE NATURE OF EACH COMPANY'S BUSINESS ACTIVITIES; TO PROVIDE THAT A COMPANY MAY BE REMOVED FROM THE LIST UNDER CERTAIN CONDITIONS; TO PROVIDE THAT A COMPANY REMOVED FROM THE LIST MAY BE PLACED BACK ON THE LIST; TO PROVIDE FOR THE DIVESTMENT OF ALL DIRECTLY HELD, PUBLICLY-TRADED SECURITIES OF A SCRUTINIZED COMPANY UNDER CERTAIN CONDITIONS; TO PROHIBIT THE BOARD OF TRUSTEES FROM ACQUIRING SECURITIES OF SCRUTINIZED COMPANIES; TO PROVIDE AN EXCEPTION FROM THE DIVESTMENT REQUIREMENT AND THE INVESTMENT PROHIBITION TO CERTAIN INDIRECT HOLDINGS IN ACTIVELY MANAGED INVESTMENT FUNDS; TO REQUIRE THE BOARD OF TRUSTEES TO REQUEST THAT THE MANAGERS OF THOSE INVESTMENT FUNDS CONSIDER REMOVING SCRUTINIZED COMPANIES FROM THE FUND OR CREATING A SIMILAR FUND THAT EXCLUDES THOSE COMPANIES; TO REQUIRE THE BOARD OF TRUSTEES TO MAKE CERTAIN REPORTS TO THE GOVERNOR, THE PRESIDENT OF THE SENATE AND THE SPEAKER OF THE HOUSE; TO PROVIDE FOR TERMINATION OF THE PROHIBITIONS AND DIVESTMENT REQUIREMENTS OF THIS ACT UNDER CERTAIN CIRCUMSTANCES; TO PROVIDE FOR IMMUNITY FOR THE RETIREMENT SYSTEM AND ITS EMPLOYEES FOR GOOD FAITH OMISSIONS IN IDENTIFYING SCRUTINIZED COMPANIES; TO AMEND SECTIONS 25-11-121 AND 25-11-145, MISSISSIPPI CODE OF 1972, TO CONFORM TO THE PRECEDING PROVISIONS; AND FOR RELATED PURPOSES.

In the House of Representatives

• Herb Frierson

  Sponsor

l9n doesn't hold this bill's text yet.

In the House of Representatives Jan 14 – Feb 5

1. Jan 14Referred to the House committee on Appropriations
2. Feb 5Died in committee in the House