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Bill > S884
NJ S884
NJ S884Prohibits investment by State of pension and annuity funds in Chinese pharmaceutical companies.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
The COVID-19 pandemic has caused widespread harm, claiming over 200,000 lives to date. The pandemic has also shut down the economies of the world, leading to massive closures of small businesses and loss of employment. In the United States alone, over 20 million Americans have filed for unemployment since the pandemic reached our shores. The risks of COVID-19 were hidden from foreign nations by the Chinese government, increasing the risk and toll of the pandemic worldwide. Chinese companies should not be rewarded with additional investment from State and national resources while they control a large proportion of pharmaceutical manufacturing. The state should reinvest in New Jersey-based pharmaceutical manufacturing to improve health and economic resources. This bill prohibits investment in any Chinese pharmaceutical company and any company that has an equity tie or is engaged in business operations with a Chinese pharmaceutical company. The State Investment Council will work with an independent research firm to track any current investments in Chinese pharmaceutical companies and take appropriate action to end the investment. The Division of Investment will submit an annual report to highlight the progress in fulfilling the requirements of the bill. The bill also protects the State Investment Council, employees of the Division of Investment, and other State officers and employees from legal action that may arise due to the provisions of this bill.
AI Summary
This bill prohibits the State of New Jersey from investing pension and annuity funds in any Chinese pharmaceutical company, which is defined as a company with its main operations in China that is at least 51% owned and controlled by Chinese citizens, a civilian-run enterprise (a non-state-owned company at least 51% owned by Chinese citizens), or the Chinese government. This prohibition also extends to any company that has an "equity tie," meaning it has employees, advisors, facilities, or any form of monetary or physical presence, including ownership in subsidiaries or joint ventures, with a Chinese pharmaceutical company. The State Investment Council, with the help of an independent research firm, will identify and divest from any such prohibited investments within three years, and the Division of Investment will report annually on its progress. The bill also provides legal protection to State officials and employees involved in implementing these investment restrictions, shielding them from lawsuits.
Committee Categories
Government Affairs
Sponsors (2)
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 01/13/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/S884 |
| BillText | https://pub.njleg.gov/Bills/2026/S1000/884_I1.HTM |
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