Prohibits the investment of public employee retirement funds in companies doing business with the Republic of Sudan or its instrumentalities; requires divestiture of currently invested funds.
STATE OF NEW YORK
________________________________________________________________________
4144
2015-2016 Regular Sessions
IN ASSEMBLY
January 29, 2015
___________
Introduced by M. of A. WRIGHT, ARROYO, PEOPLES-STOKES, ENGLEBRIGHT --
Multi-Sponsored by -- M. of A. CURRAN, GANTT, GLICK, GOTTFRIED, HOOP-
ER, KOLB, PAULIN, RAIA, RIVERA, ROSENTHAL -- read once and referred to
the Committee on Governmental Employees
AN ACT to amend the retirement and social security law, in relation to
the investment of certain public employee retirement funds in compa-
nies doing business with the Republic of Sudan or its instrumentali-
ties
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Legislative findings and declaration. 1. The legislature
2 finds that the current crisis in Sudan's Darfur region involving a
3 conflict between the Republic of Sudan and the People's Liberation Move-
4 ment or Army has disrupted the peace and security for civilians and has
5 created a climate which violates the Human Rights of ethnic minorities
6 within this nation state.
7 2. The legislature finds that the armed conflict involving the Repub-
8 lic of Sudan, the National Congress Party (NCP), and the Sudan People's
9 Liberation Movement has created genocidal conditions for innocent civil-
10 ians within the region of Darfur.
11 3. The legislature finds that the Report of the United Nations Secre-
12 tary General on Sudan provides evidence that the prospect for peace and
13 security in the Darfur region of the Republic of Sudan continues to
14 deteriorate in spite of the signing of a Comprehensive Peace Agreement
15 by the Republic of Sudan, the National Congress Party (NCP), and the
16 Sudan Liberation Movement.
17 4. The legislature finds more than one year after the signing of the
18 Comprehensive Peace Agreement a number of protocols and commissions
19 designed to end ethnic cleansing or crimes against humanity have not yet
20 been established. These include the Human Rights Commission, the Civil
21 Service Commission, the Land Commission, the National Electoral Commis-
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD04977-01-5
A. 4144 2
1 sion, and the Commission for the Protection of the Rights of Non-Muslims
2 in the National Capitol.
3 5. The legislature finds that national security officers continue to
4 arrest and arbitrarily detain individuals considered to be a threat to
5 the state, including students and human rights defenders. Ill-treatment
6 and torture of people in national security custody continue to be
7 reported. The process of legislative reform envisaged by the Comprehen-
8 sive Peace Agreement and the Interim National Constitution has not yet
9 commenced.
10 6. The legislature finds that in Darfur, as detailed in the report of
11 the Secretary General on Sudan to the U.N. Security Council, indiscrimi-
12 nate attacks continue against civilians, including assault and rape of
13 women by armed militias. Police and other officials are often involved
14 in human rights abuse.
15 7. The legislature finds that in southern Sudan and Abyei, rights to
16 due process and fair trial guarantees are hampered by a lack of human
17 and financial resources in the law enforcement and justice sectors. In
18 the absence of a functioning justice system in some regions, customary
19 laws are applied that do not adequately protect individual rights.
20 8. The legislature finds owing to lack of agreement between the
21 National Congress Party and the Sudan People Liberation Movement on the
22 draft law for the National Independent Human Rights Commission, no
23 developments have taken place in relation to the establishment of the
24 Commission. In addition, there have been insufficient efforts to consult
25 with civil society and other relevant actors in the preparation of the
26 draft law.
27 9. The legislature finds that aspects of the peace agreement that were
28 intended to encourage distributive justice, wealth sharing, and to
29 reduce conflicts based upon a fight over the natural resources of the
30 Republic of Sudan have failed to progress. Specifically, the Fiscal and
31 Financial Allocations and Monitoring Commission and the National Petro-
32 leum Commission have failed to quantify the share of oil revenues which
33 were to be transferred to the Government of Southern Sudan.
34 10. The legislature finds that the instigation and propagation of
35 armed conflict based upon religious extremism and a fight over petrole-
36 um, carbon fuels and other natural resources poses a serious threat to
37 the African Continent, and a threat to world peace and security.
38 § 2. The retirement and social security law is amended by adding a new
39 section 423-d to read as follows:
40 § 423-d. Investment of certain public funds in companies doing busi-
41 ness in Sudan. 1. On and after the effective date of this section, no
42 moneys or assets of the common retirement fund shall be invested in the
43 stocks, securities or other obligations of any institution or company
44 doing business in or with Sudan or with agencies or instrumentalities
45 thereof. Notwithstanding any provision of law to the contrary, no assets
46 of any pension or annuity fund under the jurisdiction of the comp-
47 troller, shall be invested in any bank or financial institution which
48 directly or through a subsidiary has outstanding loans to or financial
49 activities in Sudan or its instrumentalities and no such assets shall be
50 invested in the stocks, securities or other obligations of any company
51 which directly or through a subsidiary is engaged in business in or with
52 Sudan or its instrumentalities.
53 2. The comptroller shall take appropriate action to sell, redeem,
54 divest or withdraw any investment held in violation of the provisions of
55 this section. This section shall not be construed to require the prema-
56 ture or otherwise imprudent sale, redemption, divestment or withdrawal
A. 4144 3
1 of an investment, but such sale, redemption, divestment or withdrawal
2 shall be completed not later than three years following the effective
3 date of this section.
4 3. Within sixty days after the effective date of this section, the
5 comptroller shall file with the legislature a report of all investments
6 held as of the effective date of this section which are in violation of
7 the provisions of this section. Every year thereafter, the comptroller
8 shall report on all investments sold, redeemed, divested or withdrawn in
9 compliance with this section. Each report after the initial report shall
10 provide a description of the progress which the comptroller has made
11 since the previous report and since the effective date of this section.
12 § 3. This act shall take effect immediately.
