Rep. Lou Lang
Filed: 5/28/2007
 
 

 




 

 		












09500SB1621ham002

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AMENDMENT TO SENATE BILL 1621 




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    AMENDMENT NO. ______. Amend Senate Bill 1621, AS AMENDED, 
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with reference to page and line numbers of House Amendment No. 
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1, on page 4, lines 15 through 17, by deleting ", as well as 
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facilitating such activities, including, providing supplies or 
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services in support of such activities"; and
 
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on page 4, line 21, after "oil;", by inserting " and"; and 
 
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on page 4, by replacing lines 22 through 24 with the following:
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"pipeline, refinery, or other oil-field infrastructure. The 
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mere"; and
 
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on page 5, lines 19 and 20, by replacing "or assets linked to" 
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with "produced in or assets located in"; and
 
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on page 5, line 22, by replacing "or assets linked to" with 
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"produced in or assets located in"; and

 
 


 






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on page 6, line 2, by deleting "with actual knowledge,"; and
 
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on page 8, on lines 8 through 10, by deleting ", as well as 
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facilitating such activities, including, providing supplies or 
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services in support of such activities"; and
 
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on page 8, line 14, after "oil;", by inserting " and"; and 
 
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on page 8, by replacing lines 15 through 17 with the following:
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"pipeline, refinery, or other oil-field infrastructure. The 
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mere"; and
 
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on page 9, immediately below line 4, by inserting the 
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following:
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    ""Scrutinized business operations" means business 
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operations that have caused a company to become a scrutinized 
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company."; and
 
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on page 9, lines 12 and 13, by replacing "or assets linked to" 
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with "produced in or assets located in"; and
 
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on page 9, line 15, by replacing "or assets linked to" with 
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"produced in or assets located in"; and

 
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on page 9, line 21, by deleting "with actual knowledge,"; and
 
 


 






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on page 10, by replacing lines 9 through 13 with the following:
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"system has direct or indirect holdings.
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    These efforts shall include the following, as appropriate 
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in the retirement system's judgment:
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        (1) reviewing and relying on publicly available"; and
 
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on page 11, line 6, by replacing "quarterly" with "annually"; 
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and
 
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on page 11, line 10, by deleting "immediately"; and
 
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on page 15, line 8, by replacing "such" with "fiduciary duties 
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under this Article and any"; and
 
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on page 15, lines 13 and 14, by deleting "certain" each time it 
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appears; and
 
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on page 15, by replacing lines 16 through 20 with the 
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following:
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"evidence shows that the value of investments in scrutinized 
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companies with active scrutinized business operations becomes 
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equal to or less than 0.5% of the market value of all assets 
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under management by the retirement system. Cessation of"; and
 
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on page 16, lines 15 and 16, by replacing "upon becoming law" 
 


 






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with "on January 1, 2008".