Prohibits investment by State of pension and annuity funds in Chinese pharmaceutical companies.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill prohibits New Jersey’s state pension and annuity funds from investing in any Chinese pharmaceutical company or any company with significant ties to such companies. It aims to mitigate risks associated with the COVID-19 pandemic and the potential for hidden information from Chinese manufacturers. The bill requires the State Investment Council and the Division of Investment to divest existing investments and report annually on their progress. It also provides legal protection for those involved in implementing the restrictions.
Bill text
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Document of record
- Version
- Introduced
- Published
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Sponsors
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2 on record
Primary sponsors
Douglas Steinhardt
Michael Testa
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