California Investment Funds Prohibited from Investments in Israeli Businesses (2012)
|Not on Ballot|
| This measure did not or |
will not appear on a ballot
The formal letter requesting a title and summary for the proposed initiative was signed by Chris Yatooma. The Attorney General of California's office provided an official summary on September 1, 2010.
Text of measure
- "Requires the Public Employees' Retirement System and State Teachers' Retirement System to identify investments in companies that do business related to the construction or maintenance of Israeli settlements, including those in the West Bank and East Jerusalem, or that provide military supplies and services to Israel. Requires retirement funds to urge these companies to stop these business activities, and, subject to fund fiduciary responsibilities, to divest from companies still engaged in these activities. Prohibits retirement funds from making new investments in these companies."
Summary of estimated fiscal impact:
(This is a summary of the initiative's estimated "fiscal impact on state and local government" prepared by the California Legislative Analyst's Office and the Director of Finance.)
- "Potential increase in state and local government pension contributions, the amount of which would vary from negligible to more significant based on how this measure's divestiture requirements are interpreted and implemented."