Thu, Aug 07, 2008

Tucson Region

House unanimously OKs Sudan-divestiture bill

By Daniel Scarpinato
arizona daily star
Tucson, Arizona | Published: 02.28.2008
PHOENIX — An effort to encourage Arizona pension funds to sell off any investments linked to Sudan won approval from the state House on Wednesday, overcoming a minor roadblock that threatened its prospects last week.
The bipartisan divestiture measure seeks to shift stock the state holds away from foreign companies that are linked to Sudan — specifically in oil, mineral, power and weapons sales.
But the state would be required to divest only if doing so didn't end up costing any money, a revelation that led to criticism of the bill. In addition, the bill doesn't apply to mutual funds.
State Rep. Sam Crump, R-Anthem, sought unsuccessfully to amend the bill last week. But its prime sponsor, state Rep. Kyrsten Sinema, D-Phoenix, said if the bill were reworded to potentially cost the state money it would lose support and might be found unconstitutional.
In the end, Sinema's bill passed unanimously with Crump's support.
Advocates of the bill and an identical one in the state Senate say they are looking to put pressure on the Sudanese government, which is accused of arming a militia in the region of Darfur.
The conflict in Darfur has killed 400,000 people, according to some estimates.
In an extremely rare occurrence, all 90 members of the Legislature signed onto the bill as sponsors or co-sponsors. If signed by Gov. Janet Napolitano, Arizona would join 22 other states and the federal government in passing similar divestiture legislation.
● Contact reporter Daniel Scarpinato at 307-4339 or dscarpinato@azstarnet.com.