SB 1328 (McGuire) – Russia and Belarus divestment
Prohibits the boards of specified state and local retirement systems from investing in companies that: are domiciled in Russia or Belarus; are owned directly or indirectly, by the government of Russia or Belarus or by a sanctioned person; the U.S. government has designated as complicit in Russia’s and Belarus’ war against Ukraine; or supply military equipment to Russia or Belarus. Also establishes reporting requirements. It prohibits all state agencies from investing in investment vehicles issued or owned by the governments of Russia or Belarus. In addition, prohibits companies that conduct business with the governments of Russia or Belarus from bidding on contracts with state agencies.
- Version: Amended 5/19/2022
- Sponsor: Author
- Location: Assembly PE&R Committee
- Board Position: Oppose
CalSTRS analysisAs amended 5/19/2022As amended 4/19/2022