Bill > HB6

This bill restricts fiduciaries of state funds in Alaska, specifically the Alaska Retirement Management Board and the Alaska Permanent Fund Corporation Board, from making investment decisions based on social, political, or ideological interests. The bill defines such interests as actions related to several specific areas, including: (1) reducing greenhouse gas emissions, (2) implementing corporate diversity or composition criteria based on social or political characteristics, (3) divesting from companies that do not meet certain environmental standards, (4) influencing access to abortion or gender-related medical procedures, and (5) divesting from companies involved in firearm manufacturing or sales. These restrictions apply to investment decisions unless they are required by federal or state law. The bill amends three different sections of Alaska state law to ensure that state fund managers focus solely on financial performance and returns, rather than pursuing broader social or political agendas through investment choices. This legislation aims to maintain a strict financial focus for state investment strategies and prevent fund managers from using state investments as a tool for social or political activism.

Justice

https://www.akleg.gov/basis/Bill/Detail/34?Root=HB6