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Bill > SB69
AL SB69
Public Investments; to prohibit Board of Control of ERSA and TRSA from investing with restricted entities affiliated with Communist Chinese military companies
summary
Introduced
02/04/2025
02/04/2025
In Committee
02/12/2025
02/12/2025
Crossed Over
Passed
Dead
05/06/2025
05/06/2025
Introduced Session
Potential new amendment
2025 Regular Session
Bill Summary
Public Investments; to prohibit Board of Control of ERSA and TRSA from investing with restricted entities affiliated with Communist Chinese military companies
AI Summary
This bill prohibits the Board of Control of the Employees' Retirement System of Alabama (ERSA) and the Teachers' Retirement System of Alabama (TRSA) from investing in or maintaining investments with "restricted entities" associated with Chinese military companies. A "restricted entity" is comprehensively defined as any Chinese entity that appears on multiple U.S. government watch lists, including those related to national security, military-industrial activities, human rights concerns, and export control regulations. By January 1, 2025, the State Auditor must create and maintain a list of these restricted entities, updating it every six months. Upon publication of this list, the retirement systems' boards must identify any existing investments in these entities and, acting as prudent investors, must expeditiously divest from them. The bill covers a wide range of Chinese entities, from those directly tied to military activities to agencies or instrumentalities of the People's Republic of China, and is designed to prevent Alabama's public retirement systems from supporting entities potentially threatening U.S. national security. The provisions will take effect on October 1, 2025, giving retirement system managers time to prepare for the new investment restrictions.
Committee Categories
Military Affairs and Security
Sponsors (15)
Andrew Jones (R)*,
Gerald Allen (R),
Will Barfoot (R),
Billy Beasley (D),
Lance Bell (R),
Tom Butler (R),
Chris Elliott (R),
Sam Givhan (R),
Keith Kelley (R),
Wes Kitchens (R),
Randy Price (R),
Dan Roberts (R),
David Sessions (R),
Larry Stutts (R),
Jack Williams (R),
Last Action
Currently Indefinitely Postponed (on 05/06/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://alison.legislature.state.al.us/bill-search |
Fiscal Note - Reported by First Chamber Committee | https://alison.legislature.state.al.us/files/pdf/SearchableInstruments/2025RS/FiscalNotes/FN-CHBAJQW-2.pdf |
Senate Veterans and Military Affairs Veterans and Military Affairs 1st Amendment B2F5JJQ-1 | https://alison.legislature.state.al.us/files/pdf/SearchableInstruments/2025RS/B2F5JJQ-1.pdf |
Fiscal Note - Introduced | https://alison.legislature.state.al.us/files/pdf/SearchableInstruments/2025RS/FiscalNotes/FN-CHBAJQW-1.pdf |
BillText | https://alison.legislature.state.al.us/files/pdf/SearchableInstruments/2025RS/SB69-int.pdf |
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