SB 1761: Illinois Requires State Retirement Systems to Divest from Iran-restricted Companies, Sudan-restricted Companies, and Companies that Boycott Israel
Summary
SB 1761, enacted as the first of its kind and effective in July 2015, establishes the Illinois Investment Policy Board and requires the Board to compile and maintain a list of all Iran-restricted companies, Sudan-restricted companies, and companies that boycott Israel. For newly-listed companies, the Board must send a written notice to the company to notify it of the listing and of the possibility of divestment unless the conduct causing the status ceases. If the company does not cease the conduct, the retirement systems thereafter may not acquire securities of the company and must divest all existing direct holdings of the company.
Impacted Sectors
Additional Information
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