Bill Text: GA HB41 | 2009-2010 | Regular Session | Introduced

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Bill Title: Retirement and pensions; invest funds in companies producing racist or obscene lyrics; provide divestiture

Sponsorship: Partisan Bill (Democrat 2)

Status: (Introduced - Dead) 2009-04-03 - House Second Readers [HB41 Detail]

Download: Georgia-2009-HB41-Introduced.html

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09 LC 35 1116

House Bill 41

By: Representatives Mitchell of the 88th and Brooks of the 63rd

A BILL TO BE ENTITLED
AN ACT

To amend Article 1 of Chapter 1 of Title 47 of the Official Code of Georgia Annotated, relating to general provisions relative to retirement and pensions, so as to provide that no public retirement system shall invest funds in companies producing songs using certain racist or obscene lyrics; to provide for divestiture of such investments; to provide for related matters; to repeal conflicting laws; and for other purposes.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

SECTION 1.

Article 1 of Chapter 1 of Title 47 of the Official Code of Georgia Annotated, relating to general provisions relative to retirement and pensions, is amended by adding a new Code section to read as follows:

"47-1-16.

No public retirement system shall invest funds in public obligations of companies or businesses that produce, sell, or market songs with lyrics containing the word 'nigger,' 'whore,' or 'bitch' or any form of such words. Any public retirement system which holds such investments on July 1, 2008, shall divest itself of all such investments not later than July 1, 2009."

SECTION 2.

All laws and parts of laws in conflict with this Act are repealed.