House Bill 563

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 IN OIL-RELATED ACTIVITIES OR MINERAL-EXTRACTION ACTIVITIES IN 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 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, THE SPEAKER OF THE HOUSE AND THE ATTORNEY GENERAL; TO PROVIDE FOR TERMINATION OF THE PROHIBITIONS AND DIVESTMENT REQUIREMENTS OF THIS ACT UNDER CERTAIN CIRCUMSTANCES; TO AUTHORIZE THE REINVESTMENT IN CERTAIN COMPANIES HAVING SCRUTINIZED ACTIVE BUSINESS OPERATIONS UNDER CERTAIN CIRCUMSTANCES; 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

• Percy W. Watson

  Sponsor

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

In the House of Representatives Jan 21 – Feb 6

1. Jan 21Referred to the House committee on Appropriations
2. Jan 31Reported from committee in the House: title sufficient, do pass as a committee substitute
3. Feb 6Committee substitute adopted in the House
4. Passed the House

In the Senate Feb 8 – Mar 5

1. Feb 8Sent to the Senate
2. Feb 12Referred to the Senate committee on Finance
3. Mar 5Died in committee in the Senate