New Jersey

Legislation: New Jersey’s AB 3043, passed in 2008, prohibits the state pension fund from investing in any foreign company with equity ties to the government of Iran and its defense and energy sectors. (1) (2It includes an exception for humanitarian organizations. In 2012, New Jersey passed legislation prohibiting state organs from contracting with businesses contributing $20 million or more to the Iranian energy sector. (3)

Key actors: Assemblyman Neil M. Cohen (D-Union), since resigned

Assemblyman Michael J. Panter (D-Mercer), Assemblywoman Linda Stender (D-Middlesex), Assemblyman and current Minority Leader Jon M. Bramnick (R-Essex)

Effect: Since the passage of AB 3043 in 2008, the New Jersey state pension fund has divested $946.64 million from 37 companies. (4)

Of note: New Jersey Governor Chris Christie was one of 15 Republican governors to sign a letter to President Obama denouncing the federal nuclear deal and affirming that state-level sanctions would stay in place. (5) Senator Bob Menendez was one of the primary actors in the push to renew federal sanctions in June of 2015. (6)

Updated: 05/31/2016

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