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REFERENCE TITLE: contracting; investments; prohibition; border wall |
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State of Arizona House of Representatives Fifty-fourth Legislature First Regular Session 2019
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HB 2741 |
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Introduced by Representative Bolding
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AN ACT
amending Title 35, chapter 2, Arizona Revised Statutes, by adding article 4; relating to the handling of public funds.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 35, chapter 2, Arizona Revised Statutes, is amended by adding article 4, to read:
ARTICLE 4. PUBIC FUNDS INVESTMENT
35-351. Scrutinized companies; list; public contracts; public funds; investment; definitions
A. Within one hundred eighty days after the effective date of this article, the public funds shall make a reasonable effort to identify all scrutinized companies. Such efforts shall include reviewing and relying on publicly available information regarding companies that have contracted with the federal government to build a wall along the united states-Mexico border. The public funds shall assemble all identified scrutinized companies into a scrutinized companies list and shall update the list monthly.
B. This state may not contract with a scrutinized company for any product or service. The central procurement officer of this state shall notify a scrutinized company that this state is prohibited from purchasing any product or service from the scrutinized company until the company is no longer identified on the scrutinized companies list assembled pursuant to subsection A of this section. This prohibition does not apply to any contract existing before the effective date of this article but does apply to any new contract or renewal of a contract.
C. a public fund shall sell, redeem, divest or withdraw all publicly traded securities of a scrutinized company identified on the scrutinized companies list assembled pursuant to subsection A of this section. A public fund may not acquire securities of a scrutinized company until the company is no longer a scrutinized company.
D. For the purposes of this section:
1. "Public fund" means the Arizona state retirement system established by title 38, chapter 5, article 2, the elected officials' retirement plan established by title 38, chapter 5, article 3, the public safety personnel retirement system established by title 38, chapter 5, article 4 or the corrections officer retirement plan established by title 38, chapter 5, article 6.
2. "Scrutinized company" means any company that has a contract with the federal government to build a wall along the united states-Mexico border.