Progress for terror-free investment index
July 17, 2007
One of the most groundbreaking bills authored to date in the Divest Terror movement has quietly made its way through the Louisiana state legislature and was signed into law this week.
The bill, written by State Representative Pete Schneider and designated HB 864, passed resoundingly in both chambers of the legislature in the House of Representatives by a floor vote of 100-0, and the Senate by a tally of 35-0.
There are two reasons why HB 864 is of national significance. First, it will result in the establishment of a terror-free investment index for international investments. Once this index is established it will become available to public, institutional and perhaps even individual investors across America. This removes the biggest obstacle to terror-free investing in the 3 years of Divest Terror’s existence.
Second, and in a sharp contrast to other states, the Louisiana pension systems took an active role drafting and supporting HB 864. The most noteworthy help came from the Louisiana Sheriffs Pension and Relief Fund and the Louisiana Firefighters Pension Fund. Both objected to their retirement funds being invested in terror-sponsoring states, and cast their lot with the Divest Terror program.
- States Can Pursue America First, Peace Through Strength Policies - November 25, 2024
- States must act to protect American security from foreign adversaries - August 16, 2024
- Death of Hezbollah’s Fuad Shukr raises questions about America’s commitment to justice - July 31, 2024