FOR IMMEDIATE RELEASE
Contact: Kellyn Harrison, Press Secretary
kellyn.harrison@iga.in.gov
317-232-9498
STATEHOUSE (Feb. 28, 2023) — A bill authored by State Sen. Chris Garten (R-Charlestown) that would protect Hoosier investments unanimously passed the Senate today with bipartisan support.
Senate Bill 268 would prohibit the Indiana Public Retirement System (INPRS) from investing in companies controlled by the People's Republic of China or the Chinese Communist Party and create a five-year divestment plan from these interests.
"We, as a state and as a nation, are in direct and daily conflict with the Communist Chinese Party and yet we, the State of Indiana, remain invested in Chinese Communist Party interests," Garten said. "I cannot reconcile those two facts in my mind."
The State of Indiana currently has over $1 billion invested in Chinese Communist Party interests. In researching this issue, Garten found a 2019 report published by the FBI and a 2022 report published by the United Nations detailing some of the atrocities committed by the Chinese Communist Party in recent years, including cyber warfare, espionage and the continued persecution of the Uyghur people.
"We have to acknowledge that any investment in China is an issue of national security and a monetary endorsement of human rights violations," Garten said. "It is important to protect Indiana's economic foundation and Hoosiers by ensuring their hard-earned money is being kept close to home instead of in the hands of adversarial states."
Acknowledging the threats the Chinese Communist Party presents to the United States continues to garner bipartisan support. Earlier this year, all nine members of Indiana's congressional delegation voted in support of Congress creating a House-Select Committee on China.
"It is time for the Indiana General Assembly to take a stand on this issue that impacts not only Hoosiers, but all Americans," Garten said.
SB 268 will now move to the House of Representatives for further consideration. To learn more about the bill, click here.
INPRS manages the pension funds for Indiana's state employees, teachers, state law enforcement officers, public officials and others.
Legislative calendars, agendas, vote tallies, live streams and proposed legislation can be viewed online by visiting iga.in.gov.
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State Sen. Chris Garten (R-Charlestown) represents Senate District 45,
which includes Clark County and portions of Floyd County.
Click here to download a high-resolution photo.
