Lawmakers discuss Sudan divestiture

Posted: Friday, January 30, 2009

JUNEAU - Lawmakers are again considering legislation that would require the Alaska Permanent Fund Corp. to divest itself of investments in Sudan because of the violence in Darfur.

Three bills have been introduced this year, including one from Gov. Palin. They were heard in the House State Affairs Committee on Thursday.

Commissioner of Revenue Pat Galvin says the governor's bill addresses some concerns that permanent fund officials had with similar legislation last year.

Galvin says that earlier legislation would have resulted in unintended costs to the state and required the state to pull out of some companies that were not being targeted.

Galvin says the new mechanism would allow the divestment to take place within 6 to 9 months. He estimates the state has about $3.5 million invested in a handful of companies doing business with Sudan.

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