Florida Senate - 2016 SB 1428 By Senator Simmons 10-01338-16 20161428__ 1 A bill to be entitled 2 An act relating to state investments; creating s. 3 215.4702, F.S.; defining terms; encouraging the State 4 Board of Administration to determine which publicly 5 traded companies in which the Florida Retirement 6 System Trust Fund is invested operate in Northern 7 Ireland; encouraging the state board to take certain 8 action upon making a determination; authorizing the 9 state board to rely on public information in making a 10 determination; providing that the state board is not 11 liable or subject to a cause of action under the act; 12 providing an effective date. 13 14 Be It Enacted by the Legislature of the State of Florida: 15 16 Section 1. Section 215.4702, Florida Statutes, is created 17 to read: 18 215.4702 Investments in publicly traded companies operating 19 in Northern Ireland.— 20 (1) As used in this section, the term: 21 (a) “MacBride Principles” means the objectives for 22 companies operating in Northern Ireland to: 23 1. Increase the representation of individuals from 24 underrepresented religious groups in the workforce, including 25 managerial, supervisory, administrative, clerical, and technical 26 jobs. 27 2. Provide adequate security for the protection of minority 28 employees both at the workplace and while traveling to and from 29 work. 30 3. Ban provocative religious or political emblems from the 31 workplace. 32 4. Publicly advertise all job openings and make special 33 recruitment efforts to attract applicants from underrepresented 34 religious groups. 35 5. Provide that layoff, recall, and termination procedures 36 should not in practice favor particular religious groups. 37 6. Abolish job reservations, apprenticeship restrictions, 38 and differential employment criteria that discriminate on the 39 basis of religion or ethnic origin. 40 7. Develop training programs that will prepare substantial 41 numbers of current minority employees for skilled jobs, 42 including the expansion of existing programs and the creation of 43 new programs to train, upgrade, and improve the skills of 44 minority employees. 45 8. Establish procedures to assess, identify, and actively 46 recruit minority employees with potential for further 47 advancement. 48 9. Appoint senior management staff members to oversee 49 affirmative action efforts and to set up timetables to carry out 50 affirmative action principles. 51 (b) “Operating” means actively engaging in commerce 52 geographically in Northern Ireland through the acquisition, 53 development, maintenance, ownership, sale, possession, lease, or 54 operation of equipment, facilities, personnel, products, 55 services, or personal property. 56 (c) “Publicly traded company” means any business 57 organization having equity securities listed on a national or an 58 international exchange that is regulated by a national or an 59 international regulatory authority. 60 (d) “State board” means the State Board of Administration. 61 (2) The state board is encouraged to determine which 62 publicly traded companies in which the Florida Retirement System 63 Trust Fund is invested operate in Northern Ireland. If the state 64 board determines that a publicly traded company meets such 65 criteria, the state board is encouraged to: 66 (a) Notify the publicly traded company that the state board 67 supports the MacBride Principles; 68 (b) Inquire regarding the actions that the publicly traded 69 company has taken in support of or furtherance of the MacBride 70 Principles; 71 (c) Encourage a publicly traded company that has not 72 adopted the MacBride Principles to make all lawful efforts to 73 implement the fair employment practices embodied in the MacBride 74 Principles; and 75 (d) Support the adoption of the MacBride Principles in 76 exercising its proxy voting authority. For these purposes, the 77 state board may not be a fiduciary under this section in 78 exercising its proxy voting authority. 79 (3) In making the determination specified in subsection 80 (2), the state board may, to the extent it deems appropriate, 81 rely on available public information, including information 82 provided by nonprofit organizations, research firms, 83 international organizations, and government entities. 84 (4) The state board may not be held liable for, and a cause 85 of action does not arise from, any action or inaction by the 86 state board in the administration of this section. 87 Section 2. This act shall take effect July 1, 2016.