PRINTER'S NO. 857

THE GENERAL ASSEMBLY OF PENNSYLVANIA


HOUSE BILL

No. 729 Session of 2007


        INTRODUCED BY BLACKWELL, JOSEPHS, THOMAS, ROEBUCK, YOUNGBLOOD,
           M. O'BRIEN, LEACH, KENNEY, WATSON, CALTAGIRONE, BELFANTI,
           COHEN, MANN, RAPP, McGEEHAN, MELIO, WHEATLEY, PALLONE,
           FREEMAN, BENNINGTON, PAYTON, BISHOP, FABRIZIO, GERBER,
           PARKER, DENLINGER, WALKO, FRANKEL, HENNESSEY, KIRKLAND, MYERS
           AND SIPTROTH, MARCH 19, 2007

        REFERRED TO COMMITTEE ON INTERGOVERNMENTAL AFFAIRS,
           MARCH 19, 2007

                                     AN ACT

     1  Prohibiting State depositories from making or maintaining
     2     financial loans or transactions with the Republic of Sudan, a
     3     national corporation of the Republic of Sudan, or a
     4     subsidiary or affiliate of a United States firm operating in
     5     the Republic of Sudan.

     6     The General Assembly of the Commonwealth of Pennsylvania
     7  hereby enacts as follows:
     8  Section 1.  Short title.
     9     This act shall be known and may be cited as the Republic of
    10  Sudan Divestment Act.
    11  Section 2.  Legislative findings.
    12     The General Assembly finds that:
    13         (1)  The ongoing and deteriorating situation in the
    14     Republic of Sudan is widely recognized as the worst
    15     humanitarian crisis in the world.
    16         (2)  Since February 2003, government-financed militias
    17     have been systematically terrorizing residents of the Darfur

     1     region in western Sudan by destroying villages, killing men,
     2     raping women, starving children, confiscating food supplies
     3     and blocking international assistance.
     4         (3)  This violence, which has been called ethnic
     5     cleansing and genocide, has resulted in between 200,000 and
     6     400,000 deaths and more than 2 million refugees.
     7  Section 3.  Definitions.
     8     The following words and phrases when used in this act shall
     9  have the meanings given to them in this section unless the
    10  context clearly indicates otherwise:
    11     "Financial institution."  A Federal or State-chartered bank,
    12  bank and trust company, savings bank, savings and loan
    13  association, trust company or credit union.
    14     "National corporation."  A corporation, or a subsidiary or
    15  affiliate of a corporation, that is more than 50% owned or
    16  operated by the government of the Republic of Sudan.
    17     "Subsidiary or affiliate of a United States company operating
    18  in the Republic of Sudan."  A company incorporated under the
    19  laws of the Republic of Sudan, domiciled in the Republic of
    20  Sudan and owned or operated by a United States company. A
    21  subsidiary or affiliate shall not be construed to mean a
    22  subsidiary or affiliate that is located in the United States.
    23  Section 4.  Divestiture.
    24     A financial institution that is a depository of State funds
    25  may not make or maintain financial loans or transactions with
    26  the Republic of Sudan, a national corporation of the Republic of
    27  Sudan or a subsidiary or affiliate of a United States company
    28  operating in the Republic of Sudan.
    29  Section 5.  Affidavit of divestiture.
    30     A financial institution that is a depository of State funds
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     1  shall file an affidavit with the State Treasurer attesting to
     2  the fact it has no financial loans or transactions with the
     3  Republic of Sudan, a national corporation of the Republic of
     4  Sudan or a subsidiary or affiliate of a United States company
     5  operating in the Republic of Sudan, according to the following
     6  schedule:
     7         (1)  Within six months of the effective date of this act
     8     for each financial institution that is currently a depository
     9     of State funds.
    10         (2)  Before being approved as a depository of State funds
    11     for each financial institution that is not currently a
    12     depository of State funds.
    13  Section 6.  Effective date.
    14     This act shall take effect immediately.











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