2009-01-26                     Senate Journal                      Page 0075
The bill also provides for immunity and indemnification for the state's                                                         
investment fund fiduciaries in connection with the implementation of a                                                          
Sudan divestment policy. There is authority for the notion that                                                                 
divestment policies are not consistent with the prudent investor                                                                
standard (see, e.g., 1998 Inf. Op. Att'y Gen. at 198 (663-98-0297; Aug.                                                         
12); Alaska State Senate, Rural Research Agency, Alaska's Permanent                                                             
Fund: Legislative History, Intent and Operations at 39-40 (Jan.                                                                 
1986)). Accordingly, these provisions are important to protect the                                                              
fiduciaries of the state's investment funds from any challenge or                                                               
liability that may result from implementation of this bill.                                                                     
                                                                                                                                
Further, the bill provides for sunset of the divestment provisions of                                                           
this bill upon the earlier of three occurrences: 1.) if the sunset                                                              
provisions in sec. 12 of the Sudan Divestment and Accountability Act                                                            
of 2007 are satisfied, 2.) if Congress or the President declares that                                                           
Sudan divestment policies interfere with United States foreign policy;                                                          
or 3.) if the Sudan Divestment and Accountability Act of 2007 is                                                                
repealed.                                                                                                                       
                                                                                                                                
I urge your prompt and favorable action on this measure.                                                                        
                                                                                                                                
Sincerely,                                                                                                                      
/s/                                                                                                                             
Sarah Palin                                                                                                                     
Governor                                                                                                                        
                                                                                                                                
SB 82                                                                                                                         
SENATE BILL NO. 82 BY THE SENATE RULES COMMITTEE                                                                                
BY REQUEST OF THE GOVERNOR, entitled:                                                                                           
                                                                                                                                
          "An Act providing for an effective date by delaying                                                                   
          the effective date of the change of coverage of adult                                                                 
          dental services under Medicaid; and providing for an                                                                  
          effective date."                                                                                                      
                                                                                                                                
was read the first time and referred to the Health and Social Services                                                          
and Finance Committees.                                                                                                         
                                                                                                                                
The following fiscal information was published today:                                                                           
 Fiscal Note No. 1, Department of Health and Social Services