By: Chad Franzen Posted at: 03/09/2010 08:05 AM
PIERRE, S.D. (AP) - A measure barring the investment of state funds in certain oil companies that do business in Iran has won final approval from the South Dakota Legislature.
The House voted 62-5 on Monday to pass the measure, which already has been approved by the Senate. It will become law if signed by Gov. Mike Rounds.
The bill would require the state to dump stock in companies that do substantial business in Iran and are subject to sanction under a federal law. Supporters say some oil companies help Iran make money that the country then uses to support insurgents who are killing U.S. troops in Iraq and Afghanistan.
The Legislature is considering another bill setting future policy for dealing with investments in other terrorist nations.
