CT HB05269

State Treasurer shall review major investment holdings to identify state funds invested in companies doing business in Venezuela, effective October 1, 2018.

State Treasurer may divest or cease future investment in companies doing business in Venezuela, and shall divest all securities or instruments issued by Venezuela.

Divestment decisions shall consider factors including: revenues paid to Venezuela's government, involvement in oil-related activities, obstruction of inquiries, circumvention of U.S. sanctions, humanitarian activities, federal authorization, and other prudent factors.

State Treasurer shall encourage responsible behavior by companies receiving state investment that operate in Venezuela and shall provide notice before divesting funds.

State Treasurer must report annually to the Investment Advisory Council on divestment actions taken under this provision.