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MI HB5869

MI HB5869
State financing and management: purchasing; divestment from terror act; expand to include Russia. Amends secs. 2, 10 & 11 of 2008 PA 234 (MCL 129.292 et seq.).


summary

Introduced
03/02/2022
In Committee
03/02/2022
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

101st Legislature

Bill Summary

A bill to amend 2008 PA 234, entitled "Divestment from terror act," by amending sections 2, 10, and 11 (MCL 129.292, 129.300, and 129.301), section 2 as amended by 2018 PA 684.

AI Summary

This bill amends the Divestment from Terror Act of 2008 by updating the definition of "state sponsor of terror" to include Russia, in addition to the existing countries (Syria and Cuba) determined by the U.S. Secretary of State to have repeatedly provided support for acts of international terrorism. The bill sets a 12-month timeline for the provisions of the act to apply to Russia, and allows the State Treasurer to extend the application timeline by up to 2 years if certain conditions are met, such as potential conflicts with federal law or the inability to gather sufficient information. The bill also requires the Department of Treasury to provide recommendations to the legislature on improving the effectiveness of the act and whether any extensions have been granted.

Committee Categories

Government Affairs

Sponsors (13)

Last Action

Bill Electronically Reproduced 03/02/2022 (on 03/03/2022)

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