Press Release- April 19, 2007
OFFICE OF GOV. BILL RITTER, JR.
FOR IMMEDIATE RELEASE:
THURSDAY, APRIL 19, 2007
Contact:
Laura Chapin, 303.866.6386
RITTER SIGNS DARFUR DIVESTMENT BILL
Governor also to sign Senate Bills 45, 49, 111, 112 and 195 into law later today
Gov. Bill Ritter today signed into law the nation¿s toughest targeted divestment bill aimed at ending the suffering in Darfur. HB 1184, supported by a broad bipartisan coalition of lawmakers, cuts the financial ties between the state's public pension funds and companies that support the Sudanese government responsible for the atrocities in Darfur.
"This bill is especially meaningful to me because of my time in Africa," Gov. Ritter said. "Colorado has no business supporting companies that facilitate genocide. Targeted investment can help insure our pension funds are redirected in a responsible way, and by joining with other states we can send a strong message that what is happening in Darfur is unacceptable."
The genocidal government of Sudan is heavily reliant on foreign investment, and spends more than 70 percent of its oil revenue on a military force that perpetuates genocide.
HB 1184 requires pension funds to maintain a list of companies that either directly or indirectly help the Sudanese government commit genocide. After an expedited engagement period, the pension funds would be required to divest from companies that do not change their business practices in Sudan. The funds would be prohibited from future investment in offending companies until the atrocities cease.
Later this afternoon, Gov. Ritter also is scheduled to sign five additional bills into law:
SB 45, co-sponsored by Sen. McElhany and Rep. McGihon, concerning public record copying fees.
SB 49, co-sponsored by Sen. Isgar and Rep. McGihon, concerning supplemental Medicare eligibility.
SB 111, co-sponsored by Sen. Johnson and Rep. Marostica, concerning sales tax limit exempt marketing districts.
SB 112, co-sponsored by Sen. Tochtrop and Rep. McFadyen, concerning an exemption for lenders from the licensing requirements for people who sell motor vehicles.
SB 195, co-sponsored by Sen. McElhany and Rep. Rice, concerning Colorado residents who are on active duty in the armed forces outside of Colorado to maintain eligibility for a Colorado hunting or fishing license.