Tennessee HB0805 amends investment policies to require divestment from companies majority-owned by China.
Tennessee HB0805 amends Tennessee Code Annotated, Title 9, Chapter 4, Part 15, relative to investments. The bill mandates that the board of trustees for the Tennessee consolidated retirement system and the governing bodies for political subdivision pension plans review their direct holdings annually to identify any restricted investments. A restricted investment is defined as a company majority-owned by China. If such investments are found, the board or governing body must develop a divestment plan and divest from these holdings by December 31 of each year.
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