The Divestment from Turkish Bonds Act Passed by California State Senate

• 08.30.2018, 19:59
•  America,  World,  Diaspora

AB 1597, known as the Divestment from Turkish Bonds Act, passed the California State Senate with a vote of 36-0, the Armenian National Committee of America - Western Region reports.

''Thank you Assembly member Adrin Nazarian for introducing it and seeing it through and Senators Anthony Portantino and Scott Wilk for helping ensure its passage through the Senate.

After the concept was conceived and developed by the Armenian Youth Federation and the ASAs to secure unanimous support of all nine UC campuses, the ANCA-WR has worked closely with the AYF, the local ASAs, and our friends in the State Legislature toward unanimous votes in both houses and is grateful for the collaboration and unified efforts of all who played a role in its passage'', the statement reads.

It should be noted that AB 1597 prohibits the boards of the California Public Retirement System (CalPERS) and California State Teachers' Retirement System (CalSTRS) from making additional or new investments, or renewing existing investments issued, owned, controlled, or managed by the government of Turkey.