Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Notwithstanding any general or special law or regulations to the contrary, no public funds of the city of Boston shall remain invested in or remain deposited in any bank or financial institution organized under the laws of the United States or the several states, which has been determined in accordance with section three, directly or through its subsidiaries, to have outstanding loans to any individual corporation organized under the laws of the United States or the several states engaged in the manufacture, distribution or sale of firearms or munitions, including but not limited to rubber or plastic bullets, tear gas, armored vehicles, or military aircraft for use or development in any activity in Northern Ireland. No public funds of the city of Boston shall remain invested in the stocks, securities or other obligations of any corporation so engaged. The term "public funds" as used in this act shall include, without limitation, pension funds and trust funds administered by the city of Boston, unless the terms of the trust can reasonably be interpreted as being inconsistent with the purposes of this act.
SECTION 2. No public funds of the city of Boston shall be invested in or remain invested in a corporation organized under the laws of the United States or the several states and operating in Northern Ireland unless it has been determined that the corporation so engaged adheres to principles of nondiscrimination in employment and freedom of workplace opportunity. In making such a determination, the retirement board of the city of Boston as to pension funds of the city of Boston, and the collector-treasurer of the city of Boston as to all other public funds of the city of Boston, shall consider, without limitation, the following standards for corporate activity:
(1) equal access to employment, promotion, and job-preservation without regard to religious affiliation or other minority status;
(2) the promotion of religious tolerance within the workplace, and the eradication of any manifestations of religious and other illegal discrimination;
(3) adherence to other legal and regulatory guidelines for nondiscrimination and equality of opportunity existing in Northern Ireland; and
(4) adherence to the MacBride Principles for Northern Ireland, so-called.
SECTION 3. In making determinations relative to sections one and two, said retirement board or said collector-treasurer may conduct their own initial and subsequent investigations or may utilize and rely upon any other reliable investigation or information available relative to similar pension plans or otherwise.
SECTION 4. As to any divestiture pursuant to this act, said retirement board or said collector-treasurer shall determine what corporations organized under the laws of the United States or the several states and operating in Northern Ireland adhere to principles of nondiscrimination in employment and freedom of workplace opportunity and shall seek to invest funds from any such divestiture in such corporations consistent with the provisions of section five.
SECTION 5. Any such investment or divestiture shall only be done consistent with sound and prudent financial practices and, in the case of funds already invested, after reasonable notice and an opportunity to comply.
SECTION 6. This act shall take effect upon its passage.