NJ·Bill·2022-2023 Regular Session
A 4232
Prohibits investment by State of pension and annuity funds in, and requires divestment from, companies involved in production or maintenance of nuclear weapons.
Introduced 2022-06-13Last action 2022-06-13 — Introduced, Referred to Assembly State and Local Government Committee
Sponsor
Sampson, William B.
Cosponsors
None⚫
Died in Assembly committee
The 2022-2023 Regular Session ended on 2023-12-31. This bill was introduced when the session adjourned and did not advance to enactment.
Legislative Progress
✗
Introduced
2
In Committee
3
Passed Chamber
4
Enacted / Signed
Summary
This bill prohibits New Jersey's state pension and annuity funds from being invested in companies that produce or maintain nuclear weapons, including their subsidiaries, affiliates, or parent companies. The legislation requires the State Investment Council and the Director of the Division of Investment to divest from any such holdings within approximately two years of the bill's effective date, while maintaining sound investment practices and fiduciary responsibilities. The bill also mandates annual reporting on divestment progress to state officials and provides legal indemnification for state employees involved in implementing these investment restrictions.
Note
Historical import. Session: 220
Full Bill Text
https://pub.njleg.state.nj.us/Bills/2022/A4500/4232_I1.PDF