Florida became the first US state on Friday to outlaw pension fund investments in any companies doing business with Iran's energy sector and with Sudan.
Several other states have divested pension funds with companies doing business in Sudan and some states have general policies against such investments. But none had put the action into law.
"It's not just what's right for Florida. This is what's right for America, it's right for the world," Gov. Charlie Crist said after signing the bill. "It says that Iran, the world's leading sponsor of terror, we will not stand idly by anymore. And to Sudan and the genocide that is occurring there, we will not stand idly by and let that happen anymore, not Florida."
About $1 billion (â‚¬750 million) of Florida state money is currently invested with companies that do business with Sudan and Iran's energy sector, said state Senator Ted Deutch, the bill's sponsor.