Bill > S1405

This bill adds a new section to existing Idaho law to establish provisions regarding "disfavored state investments." The key provisions are: (1) public entities engaging in investment activities must apply the Idaho Uniform Prudent Investor Act and cannot consider environmental, social, or governance (ESG) characteristics in a way that overrides the prudent investor rule; (2) public entities must require notification from their investment agents if the agents adopt or revise policies related to disfavored investments; and (3) public entities must ensure that any voting of investment proxies is done in the best interests of the entity or its beneficiaries, and the voting records must be made publicly available. The bill defines "disfavored investments" as those identified as against the public policy of Idaho by statute, resolution, or executive order. The bill also defines key terms like "investment activities" and "investment agent."

Business and Industry, Government Affairs, Justice

State Affairs Committee (S)

https://legislature.idaho.gov/sessioninfo/2022/legislation/S1405/