Bill > SB0678

This bill amends the Divestment from Terror Act by updating various definitions and references related to state retirement systems, investment practices, and entities involved with state sponsors of terror. The bill primarily modifies technical language, including correcting grammatical errors and updating references to specific state entities, such as replacing the "board of the Michigan strategic fund" with the "bureau of fair competition and free enterprise". It also makes minor edits to definitions of terms like "company", "scrutinized company", and "social development company", clarifying language around business operations, investments, and humanitarian activities in countries designated as state sponsors of terror. The bill ensures that fiduciaries like state retirement system boards, state treasurers, and educational institution boards have clear guidelines for avoiding investments in companies with significant business operations in states identified by the U.S. Secretary of State as supporting international terrorism. Notably, the bill is tied to the passage of Senate Bill 631, meaning it will only take effect if that companion bill is also enacted into law.

Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0678