oWorld Iran Sanctions Bill allows states and local governments to divest from international investments that fund Iran. S even governors, including Michigan's Jennifer Granholm, signed a joint letter to U.S. Senate leadership to express support and urge the passage of the Iran Sanctions Enabling Act of 2009, the federal legislation authorizing state and local governments to divest from companies investing in Iran's petroleum, natural gas and nuclear energy sectors. The American Israel Public Affairs Committee applauded the signing. This is the first time a bipartisan group of gover- nors — all of whom had completed Iranian divestment efforts in their own states — have come together and urged Congress to move forward on an issue related to Iran's buildup of nuclear weapons. "Having worked the past two years with state legislators and governors around the country to pass divestment laws, I am thrilled we are now getting state and federal political leaders together;' said Republican political activist Bryce Sandler of Michigan. The letter, initiated by governors Tim Pawlenty, R-Minn., and Jennifer Granholm, D- Mich., also was signed by governors Arnold Schwarzenegger, R-Calif., Martin O'Malley, D-Md., Bill Ritter, Jr., D-Colo., David Paterson, D-NY, Gov. Granholm and Bobby Jindal, R-La., all governors that have authorized Iran divest- ment legislation or poli- cies in their states. "As governors': the letter declares, "we have individually taken steps to address this growing threat by authorizing the divestment of state funds from companies that have economic inter- ests in the Iranian oil and natural gas sec- tors. Yet with the Iran Sanctions Enabling Act ... we expect more of our fellow gov- ernors may engage in similar efforts, thus dramatically increasing leverage to influ- ence this urgent matter ' Nineteen states and the District of Columbia have approved divestment through legislation or executive policies, as well as several major cities such as New York, Atlanta and Los Angeles, and counties such as Los Angeles County in California and Fulton and DeKalb counties in Georgia. "In order for diplomacy to succeed, the Iranian government must know that it faces a very bleak economic future if it does not change course: Gov. Pawlenty said. Gov. Granholm agreed, noting that state divestment "can complement the efforts of our federal partners': adding that such efforts "will increase the economic pressure on Iran to curtail its nuclear ambitions to : ensure the safety and security of all people' The original legislation introduced in the Senate by Sens. Robert Casey, D-Penn., and Sam Brownback, R-Kan., was to be incorporated into a comprehensive Iran sanctions legislation introduced last week by the chairman of the Senate Banking Committee, Chris Dodd, D-Conn. The U.S. House passed the ISEA on Oct. 14 by 414-6. The bill authorizes divestment from any company providing tankers or any product used to construct or maintain pipelines that transport Iranian oil or liquefied natu- ral gas. It targets any financial institution that extends $20 million or more in credit to any entity investing in Iran's energy sec- tor. Since these companies are already liable for sanctions under U.S. law, states have a fiduciary responsibility to consider the financial consequences of holding stock in them. The law also shields fund managers who divest from potential lawsuits. Fl Hechtman Jewish Apartments Features include: Open floor plan Modem kitchen appliances Walk-in shower Spacious walk-in closets 24 hour lighted monitored parking and 24 hour monitored Personal Emergency Devices On staff social workers, Personal care available Kosher meals, Transportation Café and convenience store on premises. Exercise and recreational activities Call for an appointment or application Be part of this wonderful and exciting community! Hechtman Jewish Apartments a residence of Jewish Senior Life of Metropolitan Detroit 6690 West Maple Road, West Bloomfield, Michigan 48322 Eugene and Marcia Applebaum Jewish Community Campus For appointment or application call 248-661-5220 www.jsImi.org 1545560 20 November 12 2009