FIRST REGULAR SESSION

House Concurrent Resolution No. 32

94TH GENERAL ASSEMBLY

2309L.01I

            Whereas, the U.S. Department of State has designated certain nations as terrorist-sponsoring states which at this time include the government of Iran, Sudan, Syria, and North Korea; and

            Whereas, U.S. companies are legally prohibited from and subject to civil and criminal penalties for doing business in or with U.S. State Department-designated terrorist-sponsoring states; and

            Whereas, billions of dollars in U.S. public funds have been invested in foreign companies that have direct financial relationships with the governments of U.S. State Department-designated terrorist-sponsoring states; and

            Whereas, the U.S. Department of the Treasury has taken actions to prohibit international banks from investing in and providing financial assistance to U.S. State Department-designated terrorist-sponsoring states; and

            Whereas, the Securities and Exchange Commission has established the Office of Global Security Risk to assess and protect investors from shareholder risk associated with investments in companies doing business in and with U.S. State Department-designated terrorist-sponsored states; and

            Whereas, there is a global security risk identified with investments that support these U.S. State Department-designated terrorist-sponsoring states; and

            Whereas, the pensions of the dedicated public employees of this State should be invested wisely and protected from known risk; and

            Whereas, in the fight to keep our nation safe from terrorist attacks, 3,481 American soldiers have lost their lives and 24,646 have been wounded in Operation Iraqi Freedom and Operation Enduring Freedom; and

            Whereas, the government of Sudan is responsible for the death of at least 400,000 innocent civilians and the displacement of over 2,000,000 refugees; and

            Whereas, the Missouri General Assembly desires to ensure that employee pension funds are invested wisely and that these investments do not include foreign publicly traded companies that have direct financial relationships with the governments of U.S. State Department-designated terrorist-sponsoring states; and

            Whereas, the Missouri General Assembly believes that it is of the utmost importance for the State of Missouri to ensure that is does not allow the investment of public funds in companies whose business activities benefit and support nations that are egregious violators of human rights and known sponsors of terrorism and that, according to the U.S. government, are developing weapons of mass destruction and delivery capabilities:

            Now, therefore, be it resolved that the members of the House of Representatives of the Ninety-fourth General Assembly, First Regular Session, the Senate concurring therein, hereby call on the public retirement systems of Missouri to immediately enact all necessary provisions and take all necessary actions to ensure that no public funds are invested in entities that have direct financial relationships with the U.S. State Department-designated terrorist-sponsoring states, and to replace any holdings that are divested with comparable investments. This in no way shall apply to any company that is providing humanitarian aid for the citizens of these nations.