SB 573 Modifies the law relating to the investment policies of the state
Sponsor: Schmitt
LR Number: 4617H.07C Fiscal Notes
Committee: Jobs, Economic Development and Local Government
Last Action: 5/13/2016 - S Bills with H Amendments--SB 573-Schmitt, with HCS, as amended Journal Page:
Title: HCS SB 573 Calendar Position: 1
Effective Date: Upon voter approval
House Handler: Richardson

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Current Bill Summary

HCS/SB 573 - Under this act, the State of Missouri, its political subdivisions, and any retirement system established by the state or any political subdivision are prohibited from contracting with or investing in stocks, bonds, or any direct holdings in companies that have active business operations in countries designated as "state sponsors of terrorism" by the United States Department of State as of January 1, 2016. Existing contracts shall not be renewed and shall be cancelled or divested as soon as prudently possible.

This act does not apply to activities for which a company is acting pursuant to a license from a federal agency or to trade which is exempted by federal law relating to Iranian transactions and sanctions.

This act further contains a referendum clause.