DEPARTMENT
OF
AUDITS
AND
ACCOUNTS
270 Washington Street, S.W., Suite 1-156
Atlanta, Georgia 30334-8400
270 Washington Street, S.W., Suite 1-156
Atlanta, Georgia 30334-8400
Russell W.
Hinton
State Auditor
(404) 656-2174
State Auditor
(404) 656-2174
The
Honorable David Shafer
State Senator
State Capitol, Room 421-F
Atlanta, Georgia 30334
State Senator
State Capitol, Room 421-F
Atlanta, Georgia 30334
SUBJECT: State
Auditor’s
Certification
Senate Bill (LC 28 3869)
Senate Bill (LC 28 3869)
Dear
Senator Shafer:
This
bill would amend certain provisions relating to the Public Retirement Systems
Investment Authority Law. Specifically, this bill would provide that public
funds be required to initially and continually identify companies that do
business with Sudan in which the public fund has direct or indirect holdings or
could possibly have such holdings in the future. This bill would also outline
the procedures a public fund must follow to notify such companies of its
findings and to notify the company that divestment may occur if the company
continues active business operations with Sudan. The provisions of this bill
specify when public funds would be required to divest the funds and also
provides for certain exclusions.
This is to certify that this
is a nonfiscal retirement bill as defined in the Public Retirement Systems
Standards
Law.
Respectfully,
/s/ Russell W. Hinton
State Auditor
Respectfully,
/s/ Russell W. Hinton
State Auditor