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House of Representatives
Session of 2021 - 2022 Regular Session


Posted: February 28, 2022 09:56 AM
From: Representative Kerry A. Benninghoff
To: All House members
Subject: Divestiture of Russian investments by the Commonwealth’s public funds
The Commonwealth’s public funds represent a substantial amount of investment power. We have a moral obligation to ensure that our public fund investments are not inadvertently supporting those who are engaging in an unprovoked invasion of their democratically elected neighbors.

That is why I will be introducing legislation to divest the Commonwealth’s holdings in the State Treasury and pension funds from investments that are connected to the Russian government and its critical supporters.
This effort would expand upon Act 44 of 2010’s divestiture of the State Treasury and pension funds from investments related to Iran and Sudan.

With the announcements that Norway’s sovereign wealth fund—the largest in the world—and other businesses would exit investments in Russia, the time has come for the Commonwealth to do its part.

I look forward to working with you on this important legislation.

Introduced as HB2447