CT HB05324

State Treasurer shall review state investment holdings to determine extent of state fund investments in companies doing business in Iran and encourage responsible corporate conduct regarding nuclear weapons development and terrorism support.

State Treasurer may divest or decline to invest state funds in companies doing business in Iran, and must divest from securities issued by Iran, considering factors including revenues to Iranian government, terrorist organization connections, sanctions evasion, and humanitarian activities.

Divestment decisions shall consider whether companies engage in oil-related activities, mineral extraction, petroleum resource development, or other activities subject to U.S. economic sanctions involving Iran.

State Treasurer must provide annual reports to the Investment Advisory Council on divestment actions taken pursuant to this section.

Provisions expire if Iran is no longer designated as a state sponsor of terrorism by the U.S. Department of State and the President certifies Iran has ceased efforts to develop nuclear weapons.