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.
   14  Be It Enacted by the Legislature of the State of Florida:
   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.