Thursday, March 8, 2007

Bill would require state to give up holdings with ties to Iran

COLUMBUS, Ohio (AP) -- State investment funds would be required to sever ties with international companies that do business in Iran, under a bill that two House members plan to introduce, they said Thursday.

The move comes after overtures by former Israeli Prime Minister Benjamin Netanyahu and Republican presidential candidate Mitt Romney to states to divest themselves of holdings with companies with ties to Iran.

A California assemblyman has introduced a similar bill. In Missouri, the state treasurer and lawmakers of both parties are pushing a resolution that would encourage that state's pension funds to cut ties with companies doing business in Iran.

The Ohio bill, to be introduced this month by state Republican Reps. Josh Mandel of Lyndhurst and Shannon Jones of Springboro, would apply to state investments in international companies.

"It (the bill) ends a practice that is morally wrong and fundamentally risky," said Mandel, a freshman lawmaker and Iraq war veteran.

Good Job Josh!!!

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