Bill > A3631

Introduced Session

This bill prohibits the State of New Jersey from investing assets of any pension or annuity fund managed by the Director of the Division of Investment in the Department of the Treasury in companies that manufacture firearms or firearm ammunition. As for existing investments that are held in violation of the prohibition, the State Investment Council and the Director of the Division of Investment have up to two years to divest from the prohibited companies. The bill also requires the State Investment Council and the Director of the Division of Investment to submit an initial report on its prohibited investments and thereafter to submit annual reports on its progress towards compliance with the prohibition. According to data produced by the Center for Disease Control and Prevention more than a half million people died in the U.S. as a result of a firearm injury between the years 2000 and 2015. Firearm manufacturers are the source through which perpetrators of firearm deaths obtain their weapons. Through this bill, the State of New Jersey seeks to eliminate any contribution it makes to, or profits from, firearms or ammunition manufacturers.

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JoAnn Downey (D)*,  Eric Houghtaling (D)*,  Carol Murphy (D)*, 

Introduced, Referred to Assembly Budget Committee (on 03/12/2018)