Bill would ban public funds in gun companies

HARRISBURG, Pa. (WHTM) – A Pennsylvania senator says he’ll introduce legislation to bar state funds from investing in companies that manufacture military-style semi-automatic guns, large capacity magazines, and accessories such as bump stocks.

Minority leader Jay Costa (D-Allegheny) said his measure would require divestiture and prohibit future investments by the Public School Employees’ Retirement System, the State Employees’ Retirement System, the Pennsylvania Municipal Retirement System, and the
State Treasurer.

Costa said he’s also sent a letter asking PSERS, SERS, and PMRS for a thorough review of all of their investments to conclude whether any such investments have been made.

“Following the recent and tragic school shooting in Parkland, I was mortified to learn that the Florida teachers’ retirement fund invests in the manufacturers of assault weapons,” Costa said in a statement. “Assault weapons are incongruous with the values of our state and its schools – and I’m working to ensure that Pennsylvania makes no similar investments.”

Costa is seeking co-sponsors for the legislation.



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