CALIFORNIA BILL SEEKS MAJOR DIVESTMENT FROM TURKEY

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CALIFORNIA BILL SEEKS MAJOR DIVESTMENT FROM TURKEY

Wednesday, April 22nd, 2015
http://asbarez.com/134329/california-bill-seeks-major-divestment-from-turkey/

California State Assemblymen Adrin Nazarian, Katcho Achadjian, and
Scott Wilk

SACRAMENTO--On Wednesday, the California State Assebly Public
Employment, Retirement, and Social Security (PERSS) Committee voted
to adobt Assembly Bill 1410, which calls for the divestment of the
State of California's investments in the Turkish government. The bill
was co-authored by Assemblymen Adrin Nazarian, Katcho Achadjian,
and Scott Wilk. It passed in committee by a vote of six in favor,
one abstention, and none opposed.

If AB 1410 is passed on the State Assembly floor, ratified in the
State Senate and signed into law by Governor Jerry Brown, it would
provide that California divest a major part of its holding in Turkish
government bonds and other Turkish government investment instruments.

The bill targets approximately half a billion dollars in funds that
have been invested by the California Public Employees' Retirement
System (CalPERS) and the California State Teachers' Retirement System
(CalSTRS).

Alongside the Return the Churches Resolution, which was introduced
in last year's Congress, this bill is perhaps the most far-reaching
legislation related to the Armenian Genocide introduced within the
United States to date.

Earlier this week, Assemblymen Nazarian and Achadjian co-authored an
op-ed in the Sacramento Bee, in which they called for U.S. recognition
of the Armenian Genocide and highlighted AB 1410.