1st Sub. H.B. 286
         RETIREMENT SYSTEM DIVESTMENT

House Committee Amendments

Amendment 1 March 3, 2010 10:46 AM



Representative Julie Fisher proposes the following amendments:

1.    Page 1, Lines 16 through 19 :    

             16          .    requires the Retirement Office to prevent the investment of public funds in a
             17      scrutinized company by adjusting future investment practices within the office and
             18      by stipulating in future investment management contracts, that no new investments
             19      may be made
  into direct holdings       in a scrutinized company; and


2.    Page 3, Lines 70 through 76 :    

             70          (b) The office shall assemble a list of all identified scrutinized companies
  under Subsection (2)(a)       .

             71          (c) The office shall update the list, on an annual basis, with information provided and
             72      received from those entities listed in Subsection (2)(a).
             73          (3) The office shall prepare an annual report of public fund investments
  into direct holdings       in scrutinized

             74      companies.
             75          (4) The report shall include amounts and other data and statistics designed to explain
             76      the past and current extent to which public fund investments
  into direct holdings       in scrutinized companies:


3.    Page 3, Line 82 through Page 4, Line 90 :    

             82          (6) Beginning, July 1, 2010, using the most current list assembled under Subsection
             83      (2), the office shall prevent the investment of public funds
  into direct holdings       in a scrutinized company:

             84          (a) for public funds managed within the office, by not investing
  in direct holdings       in a scrutinized

             85      company; and
             86          (b) for public funds managed by contract by a professional investment manager:
             87          (i) for existing contracts, by requesting that no more investments be made
  into direct holdings       in a

             88      scrutinized company; and
             89          (ii) for future contracts, by stipulating in the contract that no new investments may be
             90      made
  into direct holdings       in a scrutinized company.


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