Bill > HB1224

This bill: 1. Prohibits the state, political subdivisions, and independent bodies from making certain investments in companies that boycott energy companies or companies that do business with energy companies. It requires the Board for Depositories to maintain a list of such companies and notify governmental entities, which must then divest from those companies within a specified timeframe unless doing so would result in a loss in value or deviation from a benchmark. 2. Prohibits state agencies from entering into contracts worth $100,000 or more with companies that boycott energy companies, unless the contract contains a written verification from the company that it does not and will not boycott energy companies during the contract term. This provision does not apply to political subdivisions. The key terms in the bill are "boycott," which refers to refusing to deal with energy companies that do not meet environmental standards beyond applicable law, and "energy company," which includes companies engaged in the fossil fuel industry or that do business with such companies. The bill provides context by noting these measures are intended to address companies that take certain actions against energy companies.

Business and Industry, Transportation and Infrastructure

http://iga.in.gov/legislative/2022/bills/house/1224/