Bill > HB1561

This bill introduces the Foreign Adversary Divestment Act of 2025, which aims to protect Oklahoma's public investments from potential risks associated with foreign adversaries. The legislation requires state and local managed funds, including public pension funds, university endowments, and other state-controlled investment structures, to divest from investments in countries designated as hostile or Countries of Particular Concern (CPC) by the U.S. Secretary of State. The bill provides comprehensive definitions for key terms like "company," "foreign adversary," and "state-managed fund," and prohibits investments in foreign adversaries, their state-owned enterprises, companies domiciled within these countries, and banks primarily located in such nations. Entities are required to divest from prohibited investments within ten years, reducing their holdings to no more than 0.0005% of their total managed assets. The State Treasurer must develop a notification system to identify foreign adversaries, and entities must conduct thorough research to identify restricted investments. The bill also provides legal protections for public pension systems and their employees, granting them immunity from civil liability and ensuring indemnification for any legal expenses related to divestment efforts. The act is set to become effective on November 1, 2025, with the ultimate goal of preventing Oklahoma's public funds from supporting potentially threatening foreign interests.

Budget and Finance, Business and Industry, Government Affairs

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1561&Session=2600