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Bill > A1150
NJ A1150
NJ A1150Prohibits investment by State of pension and annuity funds in Chinese pharmaceutical companies.
summary
Introduced
01/11/2022
01/11/2022
In Committee
01/11/2022
01/11/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Prohibits investment by State of pension and annuity funds in Chinese pharmaceutical companies.
AI Summary
This bill prohibits the State of New Jersey from investing pension and annuity funds in Chinese pharmaceutical companies or companies with business ties to Chinese pharmaceutical companies. The bill defines "Chinese pharmaceutical company" as any company headquartered in China and majority-owned and controlled by Chinese citizens, state-owned enterprises, or civilian-run enterprises. The bill requires the State Investment Council and Division of Investment to identify and divest from any such investments within three years of the bill's effective date. The bill also protects state officials from liability for decisions made to restrict or eliminate these investments.
Committee Categories
Government Affairs
Sponsors (3)
Last Action
Introduced, Referred to Assembly State and Local Government Committee (on 01/11/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A1150 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/A1500/1150_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/A1500/1150_I1.PDF |
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