HARRISBURG − June 25, 2024− Senate Bill 1260, a bill to protect state investments in Israel, was voted out of the Senate State Government Committee today. The bi-partisan legislation is sponsored by Senators Steve Santarsiero (D-10) and Kristin Phillips-Hill (R-28) and seeks to send a strong message that Pennsylvania stands with Israel.
“Israel is the only true democracy in a volatile region of the world and a long-standing ally of the United States,” said Senator Santarsiero. “It is critical that we do everything we can to promote trade and commercial activities with Israel and do not give in to misguided pressure to divest from Israel.”
Senate Bill 1260 would uphold Pennsylvania’s steadfast support for Israel by prohibiting holdings in the Pennsylvania State Treasury or Commonwealth pension funds from boycotting or divesting from Israel and companies doing business with Israel. The bill will also withhold state funding from any institution of higher learning that boycotts or divests from Israel.
“Like America, Israel will not be bullied by detractors,” Phillips-Hill said. “This bipartisan measure ensures that antisemitic tactics will never weaken our unwavering resolve to stand with our most vital ally in the Middle East.”
The legislation will have no impact on investment decisions made solely in advancing the financial position of the funds.
Senator Santarsiero first sponsored similar legislation in 2015 to prohibit the state from giving funds to any Pennsylvania university that divests from Israel.
Senate Bill 1260 may now be brought up for a full vote of the Senate.
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