Bill Caption

Relating to investment prohibitions and divestment requirements for certain investments of public money.

Fiscal Notes

Bill Analysis

Current law prohibits investment in companies that engage in business activity in Sudan. Exceptions and other procedures are detailed. HB 1143 would revise code to prohibit the investment of public money in any kind of designated foreign terrorist organization. Certain prohibitions against investment in companies that engage in business activity in Iran would be repealed. This bill would also transfer the powers, duties, and functions of the Pension Review Board to the Comptroller. The Comptroller would also be required to maintain a list of foreign organizations designated by the U.S. Secretary of State as foreign terrorist organizations. Additional requirements would be created for the list of scrutinized businesses with business operations in Sudan or Iran. 

Vote Recommendation Notes

The regulations this bill proposes would help to ensure that Texans are not investing in countries and organizations that are enemies of the United States and of Texas. While this is likely sound public policy it had no direct connection to our liberty principles and we remain neutral.