ARMENIAN
ASSEMBLY OF AMERICA
PRESS RELEASE
FOR IMMEDIATE RELEASE
Date:

Contact:
Danielle Saroyan

Telephone:
(202) 393-3434

Web: www.aaainc.org

CALIFORNIA
STATE ASSEMBLY APPROPRIATIONS COMMITTEE APPROVES “DIVESTMENT FROM TURKISH BONDS”
BILL

Bill Sponsor Thanks Armenian Assembly for Supporting Legislation

SACRAMENTO, CA – The Armenian Assembly of America
(Assembly) is pleased to report the passage of California State Assembly Bill
1597 (AB 1597), authored by Assemblymember Adrin Nazarian (D-46), in the State
Assembly’s Appropriations Committee on May 26.

Known as the
Divestment from Turkish Bonds Act, the approval of AB 1597 by the
Appropriations Committee comes on the heels of the bill’s passage in April
2017, with a 5-0 vote, in the State Assembly’s Committee on Public Employees,
Retirement, and Social Security (PERSS), chaired by Assemblymember Freddie
Rodriguez (D-52).

“I am
humbled and grateful for my colleagues in the Assembly for joining with me to
fight for justice for the 1.5 million Armenian souls who perished in the
Genocide,” stated Assemblymember Nazarian. “If Turkey continues to fund
Armenian Genocide deniers they must be financially punished,” he added. 

Upon the
enactment of a federal law imposing sanctions on Turkey, AB 1597 would prohibit
the boards of the California Public Retirement System (CalPERS) and California
State Teachers' Retirement System (CalSTRS) from “making additional or new
investments or renewing existing investments issued, owned, controlled, or
managed by the government of Turkey.”

Prior to the
vote in the PERSS Committee, the Armenian Assembly submitted a letter of
support in favor of the passage of AB 1597. In the letter, the Armenian Assembly
emphasizes that “a vote in favor of this bill would underscore California’s
long-standing commitment towards the protection of universal human and civil
rights, and send a clear signal to repressive regimes, the world over, that
California invests in countries which do right by their respective citizens.”

"I am
pleased to state that the strong written testimony submitted by the Armenian
Assembly of America, in support of AB 1597, contributed substantially towards
the positive outcome in the Appropriations process,” said Assemblymember Adrin
Nazarian.

AB 1597 will
now be debated and voted on by the entire California State Assembly.

“The
Armenian Assembly of America is grateful to California Assemblymember Nazarian
for sponsoring and spearheading AB 1597, and salutes the leadership of the
Appropriations and PERSS committees for securing the bill’s approval. The
Armenian Assembly looks forward to working with Assemblymember Nazarian and
fellow legislators in ensuring the bill’s passage on the State Assembly floor,”
Assembly Western Region Director Mihran Toumajan said.

Established
in 1972, the Armenian Assembly of America is the largest Washington-based
nationwide organization promoting public understanding and awareness of
Armenian issues.  The Assembly is a
501(c)(3) tax-exempt membership organization.

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NR#: 2017-040

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