SENATE DOCKET, NO. 1496        FILED ON: 2/17/2021

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1735

The Commonwealth of Massachusetts

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PRESENTED BY:

Patricia D. Jehlen

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to pension divestment from companies selling weapons to the Kingdom of Saudi Arabia.

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PETITION OF:

SENATE DOCKET, NO. 1496        FILED ON: 2/17/2021

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1735

The Commonwealth of Massachusetts

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In the One Hundred and Ninety-Second General Court
(2021-2022)

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An Act relative to pension divestment from companies selling weapons to the Kingdom of Saudi Arabia.

Whereas, The deferred operation of this act would tend to defeat its purpose, which is to require forthwith divestment by the Pension Reserves Investment Management Board from companies selling weapons to the Kingdom of Saudi Arabia, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.
 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Notwithstanding any general or special law to the contrary, within 60 days of the effective date of this act, the Pension Reserves Investment Management Board established in section 23 of chapter 32 of the General Laws shall divest from the Pension Reserves Investment Trust Fund all stocks, securities and other obligations of any company selling weapons to the Kingdom of Saudi Arabia, unless the company announces, within 30 days of the effective date of this act that it will not renew or enter into contracts for weapon sales to the Kingdom of Saudi Arabia.