Legislators propose divesting from Iran

DENVER - Now playing at the Capitol: “Divestiture Wars.”

Two days after House Speaker Andrew Romanoff announced that he would lobby China to stop funding businesses and weapons in the Sudan, two Republican legislators announced plans to try to sell off any state pension fund investments in Iran.

Sen. Josh Penry of Fruita and Rep. Frank McNulty of Highlands Ranch notified the Public Employees Retirement Association of their plans in a letter last month. On Thursday, they said they will introduce a bill next session that would require the divestiture.

“Colorado’s public pensions have no business doing business in Iran,” Penry said in a news release. “As long as Iranian IEDs are killing American soldiers and as long as (President Mahmoud) Ahmadinejad makes nuclear proliferation and the elimination of Israel a centerpiece of his foreign policy, PERA should park its investments somewhere else.”

The Legislature passed a bill sponsored by Romanoff, D-Denver, this year that divests state funds from Sudan, where the government has been involved in genocide in Darfur. Romanoff said Tuesday that he will petition the Chinese government to do the same during a trip next week.

Ten state legislatures introduced bills this year to pull public funds from Iran.

CONTACT THE WRITER: (303)837-0613 or ed.sealover@gazette.com