Bill: SB 253, 85(R) - 2017
Committee
Senate Business & Commerce
Companion Bill
HB 1143
Vote Recommendation
| Vote Recommendation |
Economic Freedom |
Property Rights |
Personal Responsibility |
Limited Government |
Individual Liberty |
| Neutral |
Neutral |
Neutral |
Neutral |
Neutral |
Neutral |
Author(s)
Van Taylor
Bill Caption
Relating to investment prohibitions and divestment requirements for certain investments of public money.
Fiscal Notes
From the Legislative Budget Board: Depending upon the difference in returns for investments affected by the bill and returns for
investments which would replace them, there could be an indeterminate fiscal impact to the
state.
Bill Analysis
Under current law, certain state funds are prohibited from being invested in companies that engage in business with the governments of Iran and Sudan. This legislation would extend that same prohibition to other state funds and expand the list of companies that must be divested from to include any company that engages in business with an organization designated by the US State Department as a terrorist organization.
Vote Recommendation Notes
While it is likely sound public policy to ensure the state divests from any company doing business with state sponsors of terrorism or with terrorist organizations, such divestiture does not explicitly affect our liberty principles.
Organizations Opposed
Texas Impact
