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NJ May Go After Assault Weapon Manufacturers And Retailers

By David Madden

ESSEX COUNTY, N.J (CBS) - A bill will be proposed in the New Year that would require New Jersey to get out of any pension fund investments that involve companies that make or sell assault weapons.

The state already has an assault weapons ban in place thanks to the efforts of those like Essex County State Senator Richard Codey, but given this month's carnage in Connecticut, he believes local actions may not go far enough.

"We want to hurt them economically," Codey said. "That's the only way, I think, that we can get something effective done on this particular issue."

He doesn't believe there are any state investments with gun manufacturers, but sellers might be in a few portfolios.

"There are the Wal-Mart's of the world, the Dick's Sporting Goods stores, so we might very well, at this time, have money invested with companies who do sell military type AKA assault weapons, and that's wrong," he said.

They'd be out if this bill becomes law and Codey doesn't expect there to be much trouble in the legislature, or with Governor Chris Christie on this one.

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