To express the policy of the United States to ensure the divestiture of United States pension plans or thrift savings plans and mutual funds sold or distributed in the United States in any bank or financial institution that directly or through a subsidiary has outstanding loans to or financial activities in the Kingdom of Saudi Arabia or its instrumentalities, and for other purposes.

Bill: 109-hr-4543
Sponsor: Rep. Ros-Lehtinen, Ileana [R-FL-18]
Introduced: 2005-12-14 in the House
Policy area: International Affairs
Subjects: American investments
Bank loans
Civil Rights and Liberties, Minority Issues
Civil service retirement
Commerce
Congress
Congress and foreign policy
Congressional reporting requirements
Corporate divestiture
Crime and Law Enforcement
Finance and Financial Sector
Financial institutions
Foreign Trade and International Finance
Foreign banks and banking
Foreign loans
Government Operations and Politics
Human rights
International banking
Islamic fundamentalism
Labor and Employment
Middle East and North Africa
Mutual funds
Pension funds
Religion
Religious liberty
Sanctions (International law)
Saudi Arabia
State-sponsored terrorism
Subsidiary corporations
Terrorism

Summary:
action_date: 2005-12-14
text: 
Makes it the policy of the United States to: (1) work to ensure the divestiture by U.S. government and private pension plans or thrift savings plans and mutual funds sold or distributed in the United States of all investments in any bank or financial institution that directly or through a subsidiary has outstanding loans to or financial activities in the Kingdom of Saudi Arabia or its instrumentalities; and (2) ensure there is no such future investment.


Legislative actions:
action_date: 2006-03-27
text: Referred to the Subcommittee on Employer-Employee Relations.
action_date: 2005-12-14
text: Referred to the Committee on Financial Services, and in addition to the Committees on Government Reform, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-12-14
text: Referred to the Committee on Financial Services, and in addition to the Committees on Government Reform, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-12-14
text: Referred to the Committee on Financial Services, and in addition to the Committees on Government Reform, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-12-14
text: Referred to the Committee on Financial Services, and in addition to the Committees on Government Reform, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-12-14
text: Introduced in House
action_date: 2005-12-14
text: Introduced in House