Iowa Governor Terry Branstad confirmed he will sign a bill that will not allow public companies to do business with firms involved in Israel boycotts.
Iowa’s Senate passed House File 2331 last week in a 38-9 vote. The legislators hope the bill counters “efforts of the Boycott, Divestment and Sanctions (BDS) Movement.” Palestinian groups began the movement in 2005 as a way to money and goods from Israel.
“I just think it is wrong to be boycotting our friend and ally, Israel,” declared Gov. Branstad. “There is a lot of opportunity for us to do business with them, and I don’t believe we ought to be penalizing Israel, of all countries. They are one of our best friends and allies. This is something I strongly support.”
He noted that Lt. Gov. Kim Reynolds visited Israel last month with the Republican Lieutenant Governors Association for meetings with Israeli government, military, and business leaders. In addition, he pointed out that the Greater Des Moines Partnership participated in a trade mission to Israel two years ago.
The investment ban will apply to the state treasurer, Board of Regents, Public Employees’ Retirement System and certain other state pension funds. The bill also prohibits a public entity from entering into a contract of $1,000 or more with a company that boycotts Israel.
Tennessee became the first state to pass this legislation on April 21, 2015. These states passed legislation or condemned the BDS after Tennesee:
In March, Illinois actually named the companies the state will not invest in over their involvement. The state also included five companies over activities in Sudan.
Germany and Frances took a stand against BDS in February. The DAB Bank, headquartered in Munich, decided to shut down one of the accounts connected to the movement. The Jerusalem Post reported that the “group’s website lists DAB Bank Munich as the financial institution for electronic money transfers.” They also mentioned that the back “is the German branch of its French mother company bank, BNP Paribas.” France has outlawed “BDS activity targeting the Jewish state.”
Aviles, Spain, adopted BDS in January, but quickly dropped the notion after the Association for Action and Communication in the Middle East (“ACOM”) citing discrimination.DONATE
Donations tax deductible
to the full extent allowed by law.