Molly Janczyk, Ann Hanning re: HB 151

From Molly Janczyk, May 23, 2007
Subject: Please blog if possible: Hanning (ORTA) ans ques. on Sub. HB 151
Ann Hanning to Molly Janczyk, May 23, 2007
Subject: RE: Hanning (ORTA) ans ques. on Sub. HB 151 Date: Wed, 23 May 2007 15:48:43 -0400

Molly, You are welcome. awh

Subject: Hanning (ORTA) ans ques. on Sub. HB 151

Thank you, Ann. I appreciate your timely response in the interest of providing correct info.

---
From Ann Hanning, May 23, 2007

Subject: RE: DO NOT POST: ORSC Unanimously Disapproves Sub. HB 151 Date: Wed, 23 May 2007 15:17:38 -0400

Molly,

Ideally, HB 151 (or Sub HB 151) would be defeated in committee. However, some proposed bills stick like tics. So you work with the sponsors & others. The bill sponsors are passionate freshmen legislators. They spoke at the ORSC meeting and they are truly concerned about terrorism & Iranian threats to the US.

As you know, a Sub HB 151 was submitted earlier this week. There are some changes from the original bill. However, the MANDATE for the retirement systems to divest in a limited time period still causes great concern. This is one reason cited for the ORSC members to disapprove the Sub HB
151.

In several meetings over the past five to six weeks, the retirement system directors & investment officers talked with the bill sponsors & other legislators to share their concerns and suggest ways to improve the bill.

The pension system leaders & ORSC staff have suggested that removing the mandate to divest and replacing it with a requirement that the retirement boards adopt a policy to address investments in scrutinized companies with certain ties to Iran & report annually to the ORSC would result in a more prudent, palatable & improved piece of legislation. ORSC staff has proposed this suggestion as an amendment to the bill. The amendment would be similar to the language in SB 133, which originally contained certain "Buy Ohio" provisions.

A complete analysis of the Sub HB 151 is on the ORSC web-site. Please check www.ORSC.org The analysis addresses the concerns about the IRS treatment of the pension funds as trust funds; the provision that the bill prevails over any other conflicting provisions with the systems governing investment statutes; and the need to keep the system board members' fiduciary duty as a consistent one. Glenn Kacic does a great job with the analysis.

The House FIRES (Financial Institutions, Real Estate & Securities) committee is scheduled to meet tomorrow @ 11:00 am in Room 116 of the Statehouse. The Sub HB 151 is on the agenda. An amendment as noted above may be introduced.

Ann

---
From Molly Janczyk, May 22, 2007

Subject: DO NOT POST: ORSC Unanimously Disapproves Sub. HB 151

Ann, The question was asked what ORTA means by working for improvements to this bill. Can you explain what that means? We thought we just wanted it defeated. Thank you. Molly J. Subject: Fwd: ORSC Unanimously Disapproves Sub. HB 151 Date: Tue, 22 May 2007 13:44:47 EDT

---

From: ORTA, May 22, 2007

Subject: ORSC Unanimously Disapproves Sub. HB 151

Headlines... ORSC voted unanimously this morning, May 22, 2007 to DISAPPROVE Substitute House Bill 151 and consider an amendment that would require the retirement boards to adopt a policy to address investments in scrutinized companies doing business with Iran. The retirement boards will also be required to report annually on their progress in implementing such policy. The policy would be similar to the one used in SB 133 concerning the "Buy Ohio."

An analysis of the substitute bill will be posted as soon as possible. The FIRES committee will meet on Thursday, May 24 at 11:00 a.m.

ORTA has been working tirelessly for improvements to this bill. Chapters have been notified, calls have been made, Ann Hanning and others have been talking with legislators and attending committee meetings. ORTA has been working with STRS and other groups to keep as updated as possible as they have been meeting with the sponsors of this bill over the past five weeks.

ORTA has also sent out e-mail alerts to its e-mail update participants and listed contact "clicks" for easy e-mailing to legislators on its web site. Rep. Schneider and Rep. Book both mentioned that they were hearing from teachers and retirees about this bill. Rep. Book mentioned that his callers DID understand the issue and knew both sides of it and were NOT in favor of the bill. Sponsors Rep. Jones and Rep. Mandel both spoke at the ORSC meeting this morning.

Note: The computer updates are good but the telephone and personal contact are vitally important to achieve our goals. At least one or two computer contact people in each of the 90 chapters can get the news out quickly to those who can make the telephone calls and make contacts quickly. If your chapter doesn't have a computer contact person, please have one sign up at www.orta.org so that we can better serve you.