Illinois State Senate unanimously approves legislation banning state investment in Russia

https://ift.tt/oWlnbgO

SPRINGFIELD — The Illinois State Senate unanimously approved legislation prohibiting the investment of state funds in Russia Wednesday.

The proposed law, House Bill 1293, would require the state to divest or withdraw any existing investments in Russian banks and companies and prohibit such investments moving forward on top of several other stipulations.

The legislation would also do the following:

  • Require state colleges and universities to disclose endowments and donations provided by Russian companies or sources subject to Russia-related sanctions
  • Require the state police to investigate property-related crimes involving individuals or companies sanctioned in response to the Russian invasion of Ukraine.
  • Give the Department of Human Services added authority to address Ukrainian refugee resettlement.
  • Create a task force to investigate vulnerabilities in the real estate sector that could facilitate Russian money laundering.
  • Create a task force to recommend state protections against possible Russian or other foreign interference in Illinois elections.

With the State Senate’s 50-0 vote of approval Wednesday, the proposal’s next stop is the Illinois House of Representatives for final action.

Feeds,News,City: Chicago

via WGN-TV https://wgntv.com

November 16, 2022 at 09:32PM

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s