Bill
HD 4368
Overview: Bill Number: HD 4368, Title: An annual report of the Pension Reserves Investment Management Board (under Section 4 of Chapter 151 of the Acts of 2007) relative to divestm
Overview: Bill Number: HD 4368, Title: An annual report of the Pension Reserves Investment Management Board (under Section 4 of Chapter 151 of the Acts of 2007) relative to divestment from Sudan restricted securities, Status: Placed on file, Introduced: February 10, 2025
Purpose and Intent: This bill requires the Pension Reserves Investment Management Board (PRIM) to submit an annual report detailing the board's progress in divesting the state's pension fund investments from companies with business ties to the Sudanese government. The goal is to align the state's investment practices with its stance against the human rights abuses occurring in Sudan.
Key Provisions:
- Mandates PRIM to provide an annual report on the status of divestment from Sudan-related securities
- Requires the report to include specific details on the value of divested holdings and the timeline for full divestment
- Directs PRIM to continue identifying and divesting from companies that conduct business with the Sudanese government
Affected Parties and Impacts: This bill primarily affects the management of the state's pension fund investments, as overseen by PRIM. It aims to ensure transparency and accountability in the divestment process, which could have financial implications for the pension fund's portfolio.
Procedural and Timeline Considerations: The bill has been placed on file, indicating it is currently not actively progressing through the legislative process. However, the requirement for an annual report suggests the state remains committed to the divestment effort, and the bill may be reintroduced or incorporated into future legislation.
Compiled from official sources — confirm details with the bill’s official record.
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