Bill > SB579

This bill prohibits Oklahoma state funds and several state retirement systems from investing in entities or obligations associated with the Chinese government, its political subdivisions, or corporations headquartered or primarily operating in China. The legislation amends existing investment regulations for the State Treasurer, explicitly adding a new restriction that prevents investments in Chinese government-related entities. For the State Treasurer, the bill maintains existing guidelines about prudent investment practices, such as prioritizing safety and liquidity, while introducing specific language that bars investments linked to China. Additionally, the bill extends these investment restrictions to multiple state retirement systems, including those for firefighters, police, judges, law enforcement, teachers, public employees, and wildlife conservation workers. The prohibition covers various financial instruments like investments, commercial paper, bonds, notes, and debentures. The bill is set to take effect on November 1, 2025, giving state financial entities time to adjust their investment portfolios to comply with the new restrictions. The underlying motivation appears to be limiting state financial exposure to entities associated with a government deemed potentially problematic from a geopolitical perspective.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb579&Session=2600