Terror-free investing making progress in Indiana and Florida

In state capitals across America, the movement to divest public funds from shares of companies that choose to do business with state sponsors of terrorism continues to make major headway.

State legislators have taken the lead in informing the public about the benefits of divesting from the economies of nations such as Iran, Syria, and Sudan which are all on the U.S. State Department’s list of terrorist sponsoring nations. These efforts have met with success in just the last several days as terror-free investment bills have been passed in two key states-Indiana and Florida.

In Indiana, HB 1547 authored by State Representative David Niezgodski, was signed into law on Friday, 1 May by Governor Mitch Daniels.

That law divests Indiana’s taxpayer-supported, public pension systems from companies with active business ties to the Islamic Republic of Iran and the Syrian Arab Republic. Indiana previously divested from the Islamic Republic of Sudan in 2007.

In Florida, SB 538, co-authored by Senator Ted Deutch and Senator Carey Baker, has now passed both houses of the Florida legislature and awaits the governor’s signature.

SB 538 is truly groundbreaking legislation. Not only does it require Florida’s police and firefighters’ pension funds to divest from companies with active business ties to Iran and Sudan, it also mandates that the state provide a “terror-free” investment option for state employees participating in Florida’s defined contribution retirement plan.

Senator Deutch continues to be a national pioneer for cutting off life support for our enemies in the war on terror. In 2007, he was lead author on the bill to divest Florida’s state pensions from companies doing business in Iran’s energy sector valued at over $20 million.

Indiana and Florida now join Missouri, Michigan and Louisiana with broad terror-free investment policies directed at all sectors doing business with Iran, Syria and Sudan. In addition, California, Arizona, Georgia, Maryland, New Jersey, Illinois, Pennsylvania (Tobacco Settlement Fund), Colorado and Ohio have also adopted limited Iran-free investment policies in recent years.