Bill > SB0976

This bill amends the Divestment from Terror Act of 2008 by expanding the definition of "state sponsor of terror" to include Russia, in addition to the existing countries of Syria and Cuba. The bill sets a 12-month grace period before the provisions of the Act apply to Russia, and allows the State Treasurer to extend the effective dates for other countries by up to two years if the constitutionality of the divestment provisions conflicts with federal law or if the Department of Treasury cannot gather sufficient information to prepare an accurate list of scrutinized companies. The bill also requires the Department of Treasury to make recommendations to the legislature on how to improve the effectiveness of the Act and whether any extensions have been granted.

Government Affairs

http://legislature.mi.gov/doc.aspx?2022-SB-0976