Legislation: In September 2015, Tennessee State Senator Brian Kelsey (R-Germantown) introduced Senate Bill 1438. The legislation would amend Tennessee Code to require the state treasurer to divest retirement fund holdings in companies that have substantial operations in Iran. The bill would protect fund employees from being sued on the grounds of breach of fiduciary duty (1). A 2009 attempt to legislate public trust divestment failed (2).
Effect: None thus far.
Key actors: State Senator Brian Kelsey (R-Germantown) introduced the bill.