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TRENTON – A bill sponsored by Senator Joseph F. Vitale which prohibits New Jersey’s pension and annuity funds from investing in foreign companies doing business with Iran and requires the funds to divest any interests in such companies was signed into law last week by Governor Corzine.

“This new law makes a strong statement about New Jersey’s priorities,” said Senator Vitale, D-Middlesex. “We cannot tie New Jersey’s funds to Middle Eastern tyrants and their campaigns of worldwide terror and nuclear proliferation. This law will start the process of divesting the State’s pension and annuity funds from any economic ties to Iran’s war machine, and sends the message that we will not be an accessory to the worldwide threat posed by Iran.”

TRENTON – A bill sponsored by Senator Joseph F. Vitale which would prohibit New Jersey’s pension and annuity funds from investing in foreign companies doing business with Iran and require the funds to divest any interests in such companies was unanimously approved by the Senate today by a vote of 34-0, receiving final legislative approval.

“As the debate continues over whether the United States should be involved in conflicts in the Middle East, I think most people on either side of the debate would agree that New Jersey tax dollars should not be used to fuel the Iranian war machine,” said Senator Vitale, D-Middlesex. “New Jersey must pull out of investments which promote Iran’s nuclear weapons program and expand their military capabilities and international terror campaigns. We cannot use New Jerseyans’ hard-earned tax dollars to fund future attacks against American troops or citizens.”

TRENTON – A bill sponsored by Senator Joseph F. Vitale which would prohibit New Jersey’s pension and annuity funds from investing in foreign companies doing business with Iran and require the funds to divest any interests in such companies was unanimously approved by the Senate Budget and Appropriations Committee today.

“I think that the vast public sentiment in the State is that New Jersey should not be economically subsidizing terror regimes in the Middle East, regardless of the political opinions on our military involvement there,” said Senator Vitale, D-Middlesex. “Iran has long been identified as supporting and sponsoring a worldwide terrorism effort, and continues to build a nuclear program which could cause untold devastation on the world. New Jersey must send a message to the world’s business community that international security and world peace cannot be compromised for a quick buck.”