State Retirement Fund May Divest From Companies Doing Business With Iran

Jan 03, 2008 by Bryan Schott

Proposed Bill For 2008 Legislature

(KCPW News)  A proposal set for the 2008 legislative session would direct the state's retirement fund to divest from foreign companies doing business with Iran.

Fruit Heights Republican Representative Julie Fisher, the bill's sponsor, says she's pushing the measure because it makes no sense for the state to provide tax money to support the economy of a country that supports terrorism.

The bill does not allow the divesture to come at a loss to the fund, and implementation of the pullout is up to the fund's managers.

Fisher says several other states have already done divestment, most recently being California.

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