Thursday, June 1 2017 12:27

ArmInfo. The Armenian Assembly of America reportsthe passage of California State Assembly Bill 1597 (AB 1597), authored by Assemblymember Adrin Nazarian (D-46), in the State Assembly's Appropriations Committee on May 26.  Known as the  Divestment from Turkish Bonds Act, the approval of AB 1597 by the  Appropriations Committee comes on the heels of the bill's passage in  April 2017, with a 5-0 vote, in the State Assembly's Committee on  Public Employees, Retirement, and Social Security (PERSS), chaired by  Assemblymember Freddie Rodriguez (D-52). 

"I am humbled and grateful for my colleagues in the Assembly for joining with me to fight for justice for the 1.5 million Armenian souls who perished in the  Genocide," stated Assemblymember Nazarian. "If Turkey continues to  fund Armenian Genocide deniers they must be financially punished," he  added.  Upon the enactment of a federal law imposing sanctions on  Turkey, AB 1597 would prohibit the boards of the California Public  Retirement System (CalPERS) and California State Teachers' Retirement  System (CalSTRS) from "making additional or new investments or  renewing existing investments issued, owned, controlled, or managed  by the government of Turkey." Prior to the vote in the PERSS  Committee, the Armenian Assembly submitted a letter of support in  favor of the passage of AB 1597. In the letter, the Armenian Assembly  emphasizes that "a vote in favor of this bill would underscore  California's long-standing commitment towards the protection of  universal human and civil rights, and send a clear signal to  repressive regimes, the world over, that California invests in  countries which do right by their respective citizens." "I am pleased  to state that the strong written testimony submitted by the Armenian  Assembly of America, in support of AB 1597, contributed substantially  towards the positive outcome in the Appropriations process," said  Assemblymember Adrin Nazarian.  AB 1597 will now be debated and voted  on by the entire California State Assembly.