CT HB06874

State Treasurer shall review major state investment holdings to identify the extent to which state funds are invested in companies holding Puerto Rico debt.

Treasurer shall encourage companies holding Puerto Rico debt to act responsibly and refrain from actions that promote or exacerbate the fiscal or humanitarian crisis in Puerto Rico, whenever feasible and consistent with fiduciary duties.

Treasurer may divest state funds from, decline to further invest in, or refuse to enter new investments in any company holding Puerto Rico debt, considering factors including humanitarian activities in Puerto Rico, amount of debt held, and other prudent factors.

Treasurer shall provide written notice to any company from which divestment is determined, and funds shall remain divested for as long as the company holds Puerto Rico debt.

Treasurer shall report at least annually to the Investment Advisory Council on actions taken under this section, effective October 1, 2019.