Legislation: HB 4297, passed into law in 2010, requires the Massachusetts Pension Reserves Investment Trust (PRIT) to withdraw all publicly-traded securities from companies tied to Iranian energy and defense sectors, as identified by an independent research firm. (1) The law gives PRIT six months after a business’s appearance on the scrutinized companies list to withdraw 50% of its assets in that business, and one year to withdraw the remainder. It expires upon the removal of Iran from the state sponsors of terror list, or upon the decision of the President that the Act “interferes with the conduct of U.S. foreign policy.”

Key actors: Rep. Charles A. Murphy (D-Burlington), retired

Of note: In its 2011 Comprehensive Annual Financial Report, the Pension Reserves Investment Management Board reports to be on track with its obligations as outlined in Chapter 232. (2)

Updated: 05/31/2016

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