Bill would cut pension ties with businesses boycotting Israel

[King_David]

TRENTON — An Assembly committee on Thursday voted to bar the public worker pension fund from investing in companies that refuse to do business with Israel.

The bill (A925) heads now to the full Assembly. The Senate passed the measure 39-0 last week. If approved, New Jersey would join Florida and Illinois as states that have etched into state law their opposition to the Boycott, Divestment and Sanctions movement that encourages a boycott of Israeli goods and services.

Lawmakers supporting the pension prohibition cite New Jersey's $1.7 billion trade relationship with the country and shared values.

"The state and Israel have a long history of friendship based on economic, cultural, intellectual and political cooperation and exchange, and the elected representatives of New Jersey recognize and support Israel's right to exist as a Jewish state," the bill says. "The BDS effort, according to proponents, seeks to advance human rights. However, the actual goal is a thinly disguised attempt to demonize Israel."



http://www.nj.com/politics/index.ssf/2016/05/bill_cutting_pension_ties_with_businesses_boycotti.html

[Little Tich]

1. This is just another "support the settlements" bill.

It seems as if everyone who opposes BDS support the settlements, and use the opposition to BDS to protect the settlements from criticism. I don't know of any attempt to counter BDS that doesn't protect the settlements too. The settlements are not Israel in spite of what the opponents of BDS are trying to make you believe.

From the bill:

2. a. Notwithstanding any provision of law to the contrary, no assets of any pension or annuity fund under the jurisdiction of the Division of Investment in the Department of the Treasury, or its successor, shall be invested in any company that boycotts the goods, products, or businesses of Israel, boycotts those doing business with Israel, or boycotts companies operating in Israel or Israeli-controlled territory.

Source: http://www.njleg.state.nj.us/2016/Bills/S2000/1923_I1.PDF