OKLAHOMA CITY – A coalition including retired state educators and public employees has filed for a temporary injunction against enforcement of Oklahoma’s Energy Discrimination Act of 2022, which requires the state to divest assets from any financial company perceived to have embraced boycotts of the energy industry.
According to a news release, the Keep Oklahoma’s Promises Coalition, including members of the Oklahoma Retired Educators Association and Oklahoma Public Employees Association, asserts that the law could end up costing Oklahomans tens of millions of dollars.
At issue is an effort by state Treasurer Todd Russ to override a vote and settled decision by the board of directors for the Oklahoma Public Employees Retirement System, the petitioners said, “in the name of leveraging the pension funds of our retired public servants as pawns in an out-of-state political campaign seeking to divest from companies some believe boycott the energy industry.”
The petitioners, who filed for the temporary injunction in Oklahoma County District Court, asserted that enforcement of the act would violate their First Amendment rights on grounds of viewpoint discrimination and content discrimination. In addition, they said the law is unconstitutionally vague.
“That vagueness gives State Treasurer Russ unchecked power to determine what banks the state of Oklahoma can and cannot conduct business with,” the release states.
The petitioners also claim that the law directly conflicts with the...
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