Bill > HB977

This bill modifies Missouri state law to require public employee retirement and pension systems to divest from certain Chinese entities and investment products deemed to pose national security risks. Specifically, the bill defines "restricted entities" as companies identified on U.S. government watchlists, including those linked to the Chinese military, listed on the Entity List, or subject to the National Intelligence Law of China. After August 28, 2025, these systems must not invest in and must divest from these restricted entities, with a phased approach allowing potential extensions until August 28, 2028 under specific financial hardship conditions. The bill requires the governing boards of these systems to annually identify such restricted entities, create divestment plans, and submit reports to the state legislature detailing their progress. The legislation provides immunity from civil liability for boards and employees implementing these divestments and includes exemptions for private market funds and certain actively managed investment funds. The bill aims to limit Missouri's public retirement systems' financial engagement with entities potentially threatening U.S. national security interests, reflecting broader concerns about economic and strategic interactions with Chinese companies.

Government Affairs, Labor and Employment

https://house.mo.gov/Bill.aspx?bill=HB977&year=2025&code=R