Rauner signs law banning state investment from companies that boycott Isreal

Posted on July 24, 2015
Bruce Rauner
Gov. Bruce Rauner has signed a law that requires state pension systems to terminate direct investment in companies that participate in the Boycott, Sanctions, Divestment movement targeting Israel. (Photo courtesy Facebook/Bruce Rauner)

By Illinois News Network

SPRINGFIELD – Have a company that participates in boycotts, sanctions or divests from Israel? Don’t expect any investment from Illinois public sector pension funds.

That’s the new law signed by Gov. Bruce Rauner on Thursday. The measure touted as the first state-based law of its kind requires the state’s pension systems to terminate direct investment in companies that boycott Israel. The law also issues warnings to fund managers when companies are held indirectly inside larger portfolios.

In a statement with the announced signing of the so-called Anti-BDS law, Rauner said the law is a first step in fighting boycotts of Israel and he hopes other states follow Illinois’ lead.

The measure passed both chambers unanimously earlier this year. Meanwhile, Illinois has an unfunded pension liability of $111 billion and growing.

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