Fla. Stat. § 215.4702 — Florida Code / Title XIV / Chapter 215 / Section 215.4702
215.4702 Investments in publicly traded companies operating in Northern Ireland.
Status: in_force

(1) As used in this section, the term: (a) “MacBride Principles” means the objectives for companies operating in Northern Ireland to: 1. Increase the representation of individuals from underrepresented religious groups in the workforce, including managerial, supervisory, administrative, clerical, and technical jobs. 2. Provide adequate security for the protection of minority employees both at the workplace and while traveling to and from work. 3. Ban provocative religious or political emblems from the workplace. 4. Publicly advertise all job openings and make special recruitment efforts to attract applicants from underrepresented religious groups. 5. Provide that layoff, recall, and termination procedures should not in practice favor particular religious groups. 6. Abolish job reservations, apprenticeship restrictions, and differential employment criteria that discriminate on the basis of religion or ethnic origin. 7. Develop training programs that will prepare substantial numbers of current minority employees for skilled jobs, including the expansion of existing programs and the creation of new programs to train, upgrade, and improve the skills of minority employees. 8. Establish procedures to assess, identify, and actively recruit minority employees with potential for further advancement. 9. Appoint senior management staff members to oversee affirmative action efforts and to set up timetables to carry out affirmative action principles. (b) “Operating” means actively engaging in commerce geographically in Northern Ireland through the acquisition, development, maintenance, ownership, sale, possession, lease, or operation of equipment, facilities, personnel, products, services, or personal property. (c) “Publicly traded company” means any business organization having equity securities listed on a national or an international exchange that is regulated by a national or an international regulatory authority. (d) “State board” means the State Board of Administration.

(2) The state board is encouraged to determine which publicly traded companies in which the Florida Retirement System Trust Fund is invested operate in Northern Ireland. If the state board determines that a publicly traded company meets such criteria, the state board is encouraged to: (a) Notify the publicly traded company that the state board supports the MacBride Principles; (b) Inquire regarding the actions that the publicly traded company has taken in support of or furtherance of the MacBride Principles; (c) Encourage a publicly traded company that has not adopted the MacBride Principles to make all lawful efforts to implement the fair employment practices embodied in the MacBride Principles; and (d) Support the adoption of the MacBride Principles in exercising its proxy voting authority. For these purposes, the state board may not be a fiduciary under this section in exercising its proxy voting authority.

(3) In making the determination specified in subsection (2), the state board may, to the extent it deems appropriate, rely on available public information, including information provided by nonprofit organizations, research firms, international organizations, and government entities.

(4) The state board may not be held liable for, and a cause of action does not arise from, any action or inaction by the state board in the administration of this section.

History: s. 1, ch. 2016-215.