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September 11, 2007

Bill: State should divest funds in terror nations

A state lawmaker wants Maine to divest its holdings of companies doing business in countries that support and finance terrorism.

Sen. Ethan Strimling (D-Portland) is expected to announce today at a Portland press conference legislation that will direct the Maine State Retirement System to divest its holdings of companies that do business in countries such as Iran, North Korea, Libya and Syria. Strimling says the companies, which will be named at the press conference, help develop nuclear power plants and other energy projects in these countries.

Strimling, senate chair of the state Homeland Security Task Force, previously authored legislation that resulted in the MSRS divesting of $18 million in holdings with companies that do business in the Darfur region of Sudan. He said that action had no negative impact on the state's finances or members' pensions.

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