ARMENIAN ASSEMBLY OF AMERICA

PRESS RELEASE

FOR IMMEDIATE RELEASE

Date:

Contact: Danielle Saroyan

Telephone: (202) 393-3434

Web: www.aaainc.org

CALIFORNIA STATE SENATE PASSES
TURKISH DIVESTMENT BILL

Author of the Bill Assemblymember Adrin Nazarian to Speak at
Armenian Assembly National Advocacy Conference

SACRAMENTO, CA – The California State Senate
passed the Turkish Divestment Bill, AB 1320, on September 11, with 33 out of 40
State Senators voting in favor and the remaining 7 abstaining, reported the
Armenian Assembly of America. CA State Senator Andreas Borgeas (R-8), whose
district covers California's San Joaquin Valley, served as the floor manager of
this bill. AB 1320 now moves back to the California State Assembly, where it
has enjoyed broad bipartisan support, for a concurrence vote before it is sent
to California Governor Gavin Newsom's desk.

Formally known as the
"Public employee retirement systems: prohibited investments: Turkey"
bill, this legislation was introduced and principally authored by California
State Assemblymember Adrin Nazarian (D-46). The bill would prohibit
California's public employment retirement agencies – CalPERS and CalSTRS – from
making new investments or renewing existing investments in Turkish
government-issued and controlled debt securities and bonds, pending U.S.
government sanctions on Turkey for the latter's state-sponsored denial of the
Armenian Genocide.

In addition to Assemblymember
Nazarian, AB 1320 was co-introduced by State Assemblymembers Laura Friedman
(D-43) and Jesse Gabriel (D-45), principally co-authored by State Senator
Anthony Portantino (D-25), and co-authored by State Senator Scott Wilk (R-21)
and State Assemblymembers Phillip Chen (R-55), Luz Rivas (D-39), and Chris
Holden (D-41).

Prior to this vote, AB 1320 was
approved on August 30 by the CA State Senate Appropriations Committee, on July
2 by the CA State Senate Judiciary Committee, and on June 26 by the CA State
Senate Labor, Public Employment and Retirement (LPER) Committee. Significantly,
Armenian Assembly of America Southern California Regional Council member, Helen
Haig, jointly testified with Assemblymember Nazarian about the moral and
economic merits of AB 1320 during the Senate Judiciary Committee hearing and
vote, while Armenian Assembly Western Region Director, Mihran Toumajan, joined
Assemblymember Nazarian to testify before the Senate LPER Committee's hearing
and vote.

"On behalf of Armenian
Assembly of America activists and members in the State of California, we extend
our gratitude to CA State Assembymember Nazarian for authoring and shepherding
this bill in both state legislative chambers," stated Armenian Assembly of
America Western Region Director Toumajan.

"I am hopeful that Governor
Newsom will approve this legislation, which would ultimately send a strong
message to the Government of Turkey. The fifth largest economy in the globe –
the State of California – deplores Ankara's state-sponsored denial of the
Armenian Genocide, its publicly-known aiding and abetting of terrorist groups
like ISIL and al-Qaeda, and its continued human rights violations towards its
own Kurdish and Christian minorities, in addition to Muslim and Christian
populations living in neighboring Iraq and Syria," Toumajan added.

On Monday, September 16,
attendees of the Armenian Assembly of America's 2019 National Advocacy
Conference will have an opportunity to hear directly from Assemblymember
Nazarian about his legislative achievements in California, in addition to
understanding his insights on the importance of advocacy. He will be joined on
a panel with fellow Armenian Americans active in politics. Tickets are still
available for the National Advocacy Conference at www.aimhye.com/events/tickets.

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.

###

NR#: 2019-037

Photo
Caption: California State Assemblymember Adrin Nazarian with Armenian Assembly
Western Region Director Mihran Toumajan, Armenian Assembly Southern California
Regional Council Member Helen Haig, and Deacon Daniel Aydenian

Available online
at: