HJR65 Alabama 2013 Session

Summary

Primary Sponsor

Jim CarnsRepresentative

Republican

Session

Regular Session 2013

Title

Encouraging annual reporting and to divest from securities that support Iran

Summary

HJR65 encourages Alabama’s public investment bodies to report annually and divest from companies that support Iran through investments or business activities tied to its energy sector, terrorism designations, or weapons development.

What This Bill Does

If enacted, it directs the Retirement Systems of Alabama, the Office of the State Treasurer, and the Alabama Trust Fund to monitor their portfolios for qualifying companies, create an Iran divestment list using public information and input from nonprofits and research specialists, and report annually on those companies. It requires an initial contact attempt with listed companies to remedy violations before divestment, and allows divestment if there is no satisfactory response. The obligation is binding only as long as Iran remains sanctioned; if Iran is removed from sanctions lists, the requirement would no longer apply.

Who It Affects

• Retirement Systems of Alabama, the Office of the State Treasurer, and the Alabama Trust Fund – would be encouraged to report portfolio activity and divest from qualifying companies when appropriate.
• Companies that invest in Iran’s energy sector, do business with Iranian terrorist-designated organizations, or help obtain materials for Iran’s military activities – could be divested from if they meet the specified thresholds.

Key Provisions

• A divestment framework that targets companies meeting any of three thresholds: (1) $20 million or more invested in Iran's energy sector in any 12-month period since 2010; (2) doing business with Iranian organizations labeled as terrorists by the U.S. government; (3) facilitating or financing Iran's military material acquisitions.
• Annual reporting requirement from the investment staff to the chairs of each board and the State Treasurer, detailing companies in violation.
• Construction of the Iran divestment list by the Retirement Systems of Alabama using public information, with input from non-profit groups, research firms, and federal/state agencies.
• A process to contact listed companies to remedy violations before divestment, with divestment occurring if the company remains unresponsive.
• An expiration condition stating the obligation ends if Iran sanctions are removed and Iran is no longer on the U.S. State Sponsors of Terrorism list.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Resolutions, Legislative