General Assembly Raised Bill No. 428
February Session, 2012 LCO No. 2098
*02098_______GAE*
Referred to Committee on Government Administration and Elections
Introduced by:
(GAE)
General Assembly
Raised Bill No. 428
February Session, 2012
LCO No. 2098
*02098_______GAE*
Referred to Committee on Government Administration and Elections
Introduced by:
(GAE)
AN ACT MAKING TECHNICAL REVISIONS TO STATUTES CONCERNING THE TREASURER.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Section 3-13h of the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):
(a) The State Treasurer shall review the major investment policies of the state for the purpose of determining the extent to which moneys are invested in corporations doing business in Northern Ireland [which] that have not adopted the MacBride principles. In whatever manner may be deemed appropriate by the State Treasurer, corporations in which the state has invested assets and [which] that have operations in Northern Ireland shall be urged to adopt and implement the MacBride principles with respect to such operations and where necessary and appropriate to initiate or support shareholder initiatives requiring such corporate action.
(b) In carrying out his fiduciary responsibility, the State Treasurer shall, within a period of time not exceeding three years immediately following May 18, 1987, disinvest all state funds currently invested in any corporations doing business in Northern Ireland and invest no new state funds in any such corporation unless such corporation has implemented the MacBride principles. In accordance with sound investment criteria consistent with prudent standards of fiduciary responsibility, the State Treasurer shall, with respect to state funds available for future investment in corporations doing business in Northern Ireland, including such funds available as a result of such disinvestment as prescribed in this subsection, invest such funds in corporations conducting their operations in Northern Ireland in accordance with the MacBride principles, which are as follows: (1) Increasing the representation of individuals from underrepresented religious groups in the workforce, including managerial, supervisory, administrative, clerical and technical jobs; (2) providing adequate security for the protection of minority employees at the workplace and while traveling to and from work; (3) banning provocative religious or political emblems from the workplace; (4) publicly advertising all job openings and making special recruitment efforts to attract applicants from underrepresented religious groups; (5) having layoff, recall and termination procedures [which] that do not in practice favor particular religious groupings; (6) abolishing job reservations, apprenticeship restrictions and differential employment criteria, which discriminate on the basis of religion or ethnic origin; (7) developing training programs that will prepare substantial numbers of current minority employees for skilled jobs, including the expansion of existing programs and the creation of new programs to train, upgrade and improve the skills of minority employees; (8) establishing procedures to assess, identify and actively recruit minority employees with potential for further advancement; and (9) appointing a senior management staff member to oversee the company's affirmative action efforts and the setting up of timetables to carry out affirmative action principles.
Sec. 2. Section 3-27f of the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):
Notwithstanding any other provisions of the general statutes, [or elsewhere to the contrary,] the Treasurer may invest in participation certificates of the Short Term Investment Fund for the General Fund, any bond funds, the Special Transportation Fund, the Local Bridge Revolving Fund, the Municipal Abandoned Vehicle Trust Fund, the Special Abandoned Property Fund, any trust funds administered by the Treasurer, and all such other funds which by law the Treasurer is responsible for investing. Participation certificates of the Short Term Investment Fund issued by the Treasurer under the provisions of sections 3-27a to 3-27i, inclusive, are hereby made legal investments for the Connecticut Housing Finance Authority, Connecticut Student Loan Foundation and all agencies, instrumentalities and political subdivisions of the state.
Sec. 3. Section 3-47 of the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):
The Treasurer may sell the real estate belonging to [said funds] the School Fund or the Agricultural College Fund; and he may sell at private or public sale, from time to time, all or any part of the real estate belonging to the state, acquired by deed or foreclosure of mortgage for the School Fund or the Agricultural College Fund, if he deems it advisable and for the interest of said fund. The loss, if any, that occurs from the sale of such property, either at public or private sale, shall be deducted from the principal of said funds. The Treasurer shall execute, under the seal of his department, all necessary deeds of conveyance of real estate and releases of mortgages or judgment liens relating to said funds. The Secretary may take the acknowledgment of all conveyances of real estate situated out of the state, belonging to said funds, and affix the seal of the state to his certificate thereof.
This act shall take effect as follows and shall amend the following sections:
Section 1 from passage 3-13h
Sec. 2 from passage 3-27f
Sec. 3 from passage 3-47
This act shall take effect as follows and shall amend the following sections:
Section 1
from passage
3-13h
Sec. 2
from passage
3-27f
Sec. 3
from passage
3-47
Statement of Purpose:
To make technical revisions to statutes concerning the Treasurer.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]