Bill > A6001

Introduced Session

This bill prohibits the investment of New Jersey public employee retirement funds in stock, debt, or other security of any company that engages in government contracts or business operations involving the collection or manipulation of personal data of individuals or facilitating the surveillance of individuals without a warrant signed by a State or federal judge or a lawful court order for the purpose of obtaining evidence of an individual's citizenship or immigration status. Under the bill, the State Investment Council and the Director of the Division of Investment are required to contract with an independent research firm that specializes in data security and privacy to identify companies that are engaged in the prohibited activities identified under the bill. After reviewing the recommendations of, and consulting with, that independent research firm and the State Chief Technology Officer, the council and director are required to identify a list of companies that engage in these activities. The council and director are required, in accordance with sound investment criteria and consistent with fiduciary obligations, to take appropriate action to divest of any such stock, debt, or other security, whether owned directly or held through separate accounts or any commingled funds, in such companies. Divestment is required to be completed by January 1 of the second year following the effective date of this bill; however, the council and director are not authorized to proceed with the premature or imprudent sale, redemption, divestment, or withdrawal of an investment. The bill also requires the council and the director to submit a report, within 120 days of the effective date of the bill, and on February 1 of each year thereafter, to the Governor and the Legislature that identifies the companies and funds from which divestment is required. The report is required to include all investments sold, redeemed, divested, or withdrawn in compliance with the bill, and all prohibited investments from which divestment has not yet occurred. The report is also required to provide a description of the progress that the Division of Investment has made since the previous report to implement the provisions of the bill. Lastly, the bill protects the council, director, employees of the Division of Investment, and other State Officers and employees from any legal action that may arise that may arise due to the provisions of this bill.

AI Summary

Committee Categories

Annette Quijano (D)*, 

Introduced, Referred to Assembly State and Local Government Committee (on 11/17/2025)

Official Document