Michigan HB5058 expands divestment from state sponsors of terror to include certain countries.
Michigan HB5058 amends the Strategic Fund Act to expand divestment from state sponsors of terror to include the Russian Federation, the Islamic Republic of Iran, and the Democratic People's Republic of Korea. The bill defines terms such as "scrutinized company," "state sponsor of terror," and "substantial action." It also outlines the process for the state treasurer to extend divestment dates and mandates recommendations for statutory changes to improve the act's effectiveness.
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