The state of Illinois has adopted a law that will require pension systems to drop from their portfolios companies that boycott Israel, making it the first in the nation to do so.
The vote was doubly unanimous: The bill was passed by the Illinois House of Representatives in May by a vote of 102-0, which came after a 49-0 vote in the Illinois State Senate, The Jerusalem Post reported.
“We need to stand up to anti-Semitism whenever and wherever we see it,” Gov. Bruce Rauner said at the signing of the bill. “This historic legislation is an important first step in the fight against boycotts of Israel and I hope other states move quickly to follow our lead.”
Under the new law, patterned after existing Illinois legislation on Iran and Sudan, warnings will also go out to fund managers when companies engaged in boycott activity are held indirectly inside larger portfolios.
Rauner thanked state Sen. Ira Silverstein and state Rep. Sara Feigenholtz, both Chicago Democrats, for sponsoring the legislation.