Divesting State Funds From Iran (Audio)
By Jenifer Jones
Forty-two republican and democrat state legislators are seeking to divest about $60 million in state funds from companies that do business with Iran. Governor Mike Rounds says he'll give his support, as long as the bill is enforceable.
Senate bill 134 gives three foreign oil companies 15 months to leave Iran or South Dakota would divest itself from these companies. Governor Mike rounds says he has no objections to giving the South Dakota Investment Council some additional guidelines because it is partly taxpayer funds that are invested. Rounds says he understands that the investment council has obligations to get the best return that they can.
"But there are some things that are more important that a return on a return on investment," Rounds says. "And if any of that money is going to a country which is turning around and using it against our citizens and our soldiers, then that's where we draw the line."
Governor Rounds says the bill needs to be properly worded and needs to be specific to a few companies that are known to currently be investing in Iran.
Member stations can download the audio file here.