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Administration May 20, 2011
NH Repeals Retirement System Sudan Divestiture Law
May 20, 2011 (PLANSPONSOR.com) – New Hampshire Governor John Lynch has signed into law a bill repealing the state law requiring the divestiture of retirement system assets from investments linked to Sudan.
Reported by Rebecca Moore
The measure passed in the State House on March 14, and in the Senate on April 27.
The state’s retirement systems had fought the divestiture requirement, taking their challenge to the New Hampshire Supreme Court, which ultimately ruled that the law did not violate the state constitution (see NH Supreme Court Finds Sudan Divestment Act Constitutional).
New Hampshire enacted the Sudan Divestment Act after former President Bush signed into law the Sudan Accountability and Divestment Act of 2007, giving State and local governments authorization to divest assets in companies that conduct business operations in Sudan (see Bush Signs Sudan Divestment Bill into Law).
Text of the repeal bill is at http://www.gencourt.state.nh.us/legislation/2011/HB0491.html.