Turkish Divestment bill passes key California Senate committeeJuly 4, 2019 - 10:15 AMT PanARMENIAN.Net - AB 1320, the Divestment from Turkish Bonds Act, passed the critical Senate Judiciary Committee in California by a vote of 8-0-1. Last year, the State Senate and Assembly passed the Divestment from Turkish Bonds Act but the bill was vetoed by former Governor Jerry Brown. California has a long history of divesting from countries that violate human rights, South Africa (apartheid policy), Sudan (Darfur genocide), and Iran (international terrorism, human rights violations). A divestment from Turkish bonds over Turkey’s denial of the Armenian Genocide, the continued funding of a campaign of genocide denial, and the recent erosion of democratic principles would send a clear message internationally that California, the fifth largest economy in the world, demands justice for 1.5 million Armenians killed. “California is sending a clear message to Turkey to stop their deceitful campaign of genocide denial,” stated Assemblymember Adrin Nazarian. AB 1320 prohibits the boards of the California Public Retirement System (CalPERS) and California State Teachers' Retirement System (CalSTRS) from making additional or new investments, or renewing existing investments issued, owned, controlled, or managed by the government of Turkey after federal sanctions are imposed on Turkey. The boards shall liquidate investments only upon action taken by the federal government. More specifically, CalPERS and CalSTRS must liquidate any of the investments described above within six months of the passage of federal sanctions on Turkey. This bill also requires the boards of CalPERS and CalSTRS to submit reports to the Legislature and the Governor, within a year of when the federal government issues sanctions against Turkey. The report will detail a list of investments that they have already liquidated and a list of investments that potentially can be liquidated. California is home to the largest Armenian-American population in the United States. AB 1320 will now be debated in the California State Senate Appropriations Committee. Adrin Nazarian represents the 46th Assembly District, serving the San Fernando Valley communities of Hollywood Hills, Lake Balboa, North Hills, North Hollywood, Panorama City, Sherman Oaks, Studio City, Toluca Lake, Valley Glen, Universal City, Van Nuys, and Valley Village. Top stories Six total incidents have burned 19 old-growth trees. Friday night 8 trees were torched along the beautiful main entrance. The EU does not intend to conduct military exercises with Armenia, Lead Spokesperson for EU Foreign Affairs and Security Policy Peter Stano says. Hikmet Hajiyev has said that there is no place for USAID operation in Azerbaijan any longer. A telephone conversation between Putin and Pashinyan before the CSTO summit is not planned, Peskov says. Partner news | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. Azerbaijan razes historic Armenian church to ground Azerbaijan has demolished the historic Armenian Church of St. John the Baptist (known as Kanach Zham). |