HF 4057

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to state government; requiring the State Board of Investment to monitor
state investments in companies doing business with Sudan and to support
shareholder resolutions that require affirmative action to end the crisis in Sudan;
proposing coding for new law in Minnesota Statutes, chapter 11A.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [11A.243] INVESTMENT IN SUDAN.
new text end

new text begin new text end

new text begin Subdivision 1. new text end

new text begin List of investments. new text end

new text begin (a) By January 1 of each year, the State Board
of Investment shall:
new text end

new text begin (1) compile a list of corporations that, directly or through a subsidiary, do business
in Sudan and in whose stocks or obligations the board has invested under section 11A.24,
subdivision 3 or 5; and
new text end

new text begin (2) determine whether each corporation on the list has, during the preceding year,
taken affirmative action to improve the human rights situation in Sudan.
new text end

new text begin (b) In making the determination required by paragraph (a), clause (2), the State
Board of Investment shall consider whether a corporation doing business in Sudan
has, during the preceding year, taken substantial action designed to lead toward the
achievement of the following goals:
new text end

new text begin (1) increasing representation of persons from underrepresented religious or ethnic
groups at all levels in its work force;
new text end

new text begin (2) providing adequate security for employees who are members of minority
religious groups, both at the workplace and while traveling to and from work; and
new text end

new text begin (3) placing pressure on the government of Sudan to end the crisis and genocide
in Sudan's Darfur region.
new text end

new text begin Subd. 2. new text end

new text begin Affirmative action policy. new text end

new text begin Whenever feasible, the board shall sponsor,
cosponsor, or support shareholder resolutions designed to encourage corporations in
which the board has invested to pursue a policy of affirmative action to improve the
human rights situation in Sudan.
new text end

new text begin Subd. 3. new text end

new text begin Divestment not required. new text end

new text begin Nothing in this section may be construed to
require the State Board of Investment to dispose of existing investments or to make future
investments that violate sound investment policy for public pensions.
new text end