New Jersey A3915 prohibits state pension and annuity funds from investing in tobacco product manufacturers or distributors.
New Jersey A3915 prohibits the state from investing pension and annuity funds in companies that manufacture or distribute tobacco products. The bill aims to prevent public pension funds from supporting the manufacture and distribution of harmful products. It mandates the divestment of existing investments within three years and requires periodic reports on the progress and fiscal impact of the divestment. The act takes effect immediately upon enactment.
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