FOR IMMEDIATE RELEASE
(Topeka, Kansas February 20, 2019) StandWithUs commends Kansas State Treasurer Jake LaTurner for introducing a bill allowing Kansas to Invest in Israel Bonds. Passage of the bill will be a win-win for Kansas and Israel.
Roz Rothstein, CEO of StandWithUs, is enthusiastic about this bill. “Kansas will hopefully join 28 states who have similar bipartisan support for investing in Israel. It’s a very safe option. Since Israel began selling bonds, they have never missed a principal or income payment to their creditors. Also Israel bonds have a higher rate of return than even US treasuries. Most importantly, it gives Kansas the opportunity to show support for their best ally in the Middle East."
LaTurner encouraged the passage of the bill not only to diversify the portfolio of state investments but also to “strengthen a relationship with a long-time trade partner with Kansas that is very well connected in the world of business, agriculture, technology, and healthcare.”
His press release follows:
KANSAS STATE TREASURER
900 SW JACKSON ST., STE 201
TOPEKA KS 66612-1235
FOR IMMEDIATE RELEASE February 20, 2019
For more information, contact: Kara Zeyer 785.296.4163 Kara@treasurer.ks.gov
Kansas State Treasurer Jake LaTurner introduces Bill Allowing Kansas to Invest in Israel
Topeka—Kansas State Treasurer Jake LaTurner requested the introduction of a bill today before the Senate Federal and State Affairs Committee that would allow the State of Kansas to invest State idle funds in Israeli Bonds.
“This legislation is an important step in diversifying our portfolio,” said LaTurner. “Twenty eight other states across the country have similar authority and have seen bipartisan support when their legislature weighs in. It is also an opportunity to strengthen a relationship with a long-time trade partner with Kansas that is very well connected in the world of business, agriculture, technology, and healthcare.”
This bill would allow the state’s Pooled Money Investment Board (PMIB) to invest up to 2% of the state’s idle funds in bonds sold by the state of Israel. In the over 50 years since Israel began selling bonds, they have never missed a principal or income payment to their creditors. In the past five years, U.S. sales of Israel bonds have exceeded $1 billion.
Roughly 60 Kansas companies have already begun doing business with the State of Israel, including Aerospace Controls Corporation, Garmin Communications and Penny & Giles Aerospace. Israel currently ranks as one of Kansas’s top 20 trade partners. When looking at neighboring states, Arkansas and Colorado currently have authority to invest in Israel bonds.
The Kansas Legislature has recently shown support for Israel by requiring certain contractors who work with the state to certify that they do not discriminate against the State of Israel.
StandWithUs (SWU) is a seventeen year-old, international, non-profit Israel education organization. Through fellowships, conferences, materials, social media, educational films and missions to Israel, StandWithUs supports people around the world who want to educate their campuses and communities about Israel.
Based in Los Angeles, SWU has chapters throughout the United States, in Israel, Canada, the U.K and Brazil.