Monday, June 18, 2007

Legislative Update

The Senate Committee on Retirement approved legislation {HB 864, Rep. Schneider} which permits a public retirement system to divest itself of holdings in a company having facilities or employees, or both in a prohibited nation.

In other action, the committee deferred action {HB 456, Rep Arnold} which would have continued the requirement that state retirement systems, including LASERS, direct 10 percent of commissions on certain domestic equity trades, and 10 percent of commissions on certain fixed-income trades through certain Louisiana broker-dealers and extend the sunset to 2010.