| TO: | Honorable Bill Callegari, Chair, House Committee On Pensions |
| FROM: | Ursula Parks, Director, Legislative Budget Board |
| IN RE: | HB819 by Taylor, Van (Relating to prohibiting the investment of retirement system funds in certain private business entities doing business in Iran.), As Introduced |
HB 819 prohibits state governmental entities from investing in companies engaged in certain business operations with the government of Iran. State governmental entities that qualify under HB 819 include the Employees Retirement System and the Teacher Retirement System. The provisions of the bill could possibly impact the investment decisions made by these governmental entities, and could cause the entities to sell certain current investment holdings.
The bill, if enacted, will have no significant actuarial effect because it does not propose to change the funding or obligations of any public retirement system.
| Source Agencies: | 338 Pension Review Board
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| LBB Staff: | UP, WM
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