Divest Terror starts in California

The Center’s project "Divest Terror" has been growing apace recently.  The latest victory for this effort comes in the form of a press release from the office of California Assemblyman Joel Anderson.  Anderson’s release states:

Anderson: "Money is the mother’s milk of terrorism"; Assemblyman introduces legislation to end California taxpayers’ investment in Iran

Sacramento, CA – Yesterday, Assemblyman Joel Anderson (R-El Cajon) introduced Assembly Bill 221 to end California’s taxpayers investment in Iran.

Presently, the California Public Employees Retirement System (CalPERS) and the California State Teachers Retirement System (CalSTRS) – which oversees California public employees and school teachers’ taxpayer-funded retirement funds – invest in companies that do business in the Islamic Republic of Iran.

Assemblyman Anderson’s legislation will require CalPERS and CalSTRS:

• To sell or transfer any investments in a company with business operations in Iran.
• Requires annual reports to the legislature from the retirement systems on the status of their investments in any company with business operations in Iran.

Assemblyman Anderson held a press conference today in his El Cajon district office to announce his legislation. "After September 11, the United States government instituted new steps to seize funding to terrorist groups. Why? Because money is the mother’s milk of terrorism. Terrorists require money to pay for safe harbors, training, logistical support, false documentation, and of course weapons.

"Yesterday, I introduced Assembly Bill 221 to end California’s investment in Iran. Last year, Missouri took similar action. "This divestment legislation is inspired by late 1980’s, early 1990’s, anti-apartheid divestiture legislation – the first being Assembly Bill 134 authored in 1986 by now Democrat Congresswoman Maxine Waters. This bill restricted investments in South Africa.

"This bill is specifically modeled after Assembly Bill 2941 authored by former Democrat Assemblyman Paul Koretz, which passed the California Legislature last year with strong bipartisan support. AB 2941 targeted retirement funds invested in Sudan, whose government has been involved in genocide against its own people."

Assemblyman Anderson represents Assembly District 77, which covers East County San Diego and includes all, or parts of El Cajon, La Mesa, Santee, Jamul, Alpine, Ramona, Borrego Springs, and the City of San Diego.