FOR IMMEDIATE RELEASE
Contact: Kellyn Harrison, Press Secretary
kellyn.harrison@iga.in.gov
317-232-9498
STATEHOUSE (May 3, 2023) — A bill authored by State Sen. Chris Garten (R-Charlestown) that protects Hoosier investments was signed into law by the governor.
Senate Enrolled Act 268 prohibits the Indiana Public Retirement System (INPRS) from investing in companies controlled by the People's Republic of China or the Chinese Communist Party and creates a five-year divestment plan from these interests.
"Americans are in direct and daily conflict with the Communist Chinese Party and yet Hoosier pension dollars are invested in Chinese Communist Party interests," Garten said. "I could not reconcile those two facts in my mind and knew action needed to be taken, which is why I am pleased to see this bill signed into law."
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.
"By signing this bill into law, our state acknowledges 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 threat the Chinese Communist Party presents to the United States continues to garner bipartisan support at the national and state level. Earlier this year, all nine members of Indiana's congressional delegation voted in support of Congress creating a House-Select Committee on China. This session, SEA 268 passed both the Senate and House of Representatives with unanimous bipartisan support, showing growing concern regarding Indiana's continued involvement with adversarial states.
"Preventing foreign threats now before it is too late will keep Indiana a safe place to live, work and raise a family, and I am proud to have championed this legislation through the legislative process," Garten said.
INPRS manages the pension funds for Indiana's state employees, teachers, state law enforcement officers, public officials and others.
To learn more about SEA 268, click here.
To track bills on the governor's desk, click here.
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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.
