HOUGHTALING AND DOWNEY  RESPOND TO STATE GUN DIVESTMENT

OCEAN TOWNSHIP – In response to the State Investment Council’s decision to sell its holding of all investments in manufacturers of automatic and semi-automatic weapons for civilian use Assembly Members Eric Houghtaling and Joann Downey said the following:

“We unequivocally support the State Investment Council’s decision to divest from firearm manufacturers. New Jersey public tax dollars should not be used to support companies that profit from the sale of weapons,” said Assemblyman Eric Houghtaling.

“We, as a state, have an obligation to invest responsibly. If we are putting public tax dollars into companies that produce firearms and semi-automatic weapons, what type of message does that send?” said Assemblywoman Joann Downey.

In the wake of the Parkland, Florida shooting and subsequent outcry for increased firearm regulations, Assembly Members Houghtaling and Downey have introduced a bill that prohibits the State of New Jersey from investing assets of any pension or annuity fund in companies that manufacture firearms or firearm ammunition.

The bill (A3631) gives The State Investment Council and Director of the Division of Investment up to two years to divest from any existing investments that are held in violation of this provision. The bill also requires the State Investment Council and the Director of the Division of Investment to submit an initial report on its prohibited investments and thereafter to submit annual reports on its progress towards compliance with the prohibition.

“Through this bill, we are making responsible, socially-minded investing not just the preferable option but the only option,” Assemblyman Houghtaling said.

“We are pleased to see the state take a proactive step in divesting from Vista Outdoors. The next step is signing this bill into law to ensure this responsible investing practice continues long into the future,” Assemblywoman Downey said.