08 LC 35
1005
House
Bill 1481
By:
Representatives Mitchell of the
88th,
Brooks of the
63rd,
Morgan of the
39th,
and Mangham of the
94th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Article 1 of Chapter 1 of Title 47 of the Official Code of Georgia
Annotated, relating to general provisions relative to retirement and pensions,
so as to provide that no public retirement system shall invest funds in
companies producing songs using certain racist or obscene lyrics; to provide for
related matters; to provide for divestiture of such investments; to repeal
conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Article
1 of Chapter 1 of Title 47 of the Official Code of Georgia Annotated, relating
to general provisions relative to retirement and pensions, is amended by
inserting at the end thereof a new Code section to read as follows:
"47-1-16.
No
public retirement system shall invest funds in public obligations of companies
or businesses that produce, sell, or market songs with lyrics containing the
word 'nigger,' 'whore,' or 'bitch' or any form of such word. Any public
retirement system which holds such investments on July 1, 2008, shall divest
itself of all such investments not later than July 1, 2009."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.