A New Jersey lawmaker has introduced a measure to prohibit public pension funds from investment in any company that boycotts Israel or Israeli businesses.
Sen. Jim Beach says his bill sends a strong signal of support for Israel, said state Sen. Jim Beach, D-Camden.
“We’ve had a great relationship with Israel forever,” he said. “And companies that wish to do Israel harm, we would say we’re not investing in you. So, basically, if you’re boycotting Israel, you’re boycotting the state of New Jersey.”
The measure would require the State Investment Council to pull holdings from such companies within 18 months.
Investment Council Chairman Tom Byrne, who said the pension funds have thousand of holdings, said he doesn’t know if any of those businesses boycott Israel.