Bill > HB1455

This bill requires the Board of Trustees for the State Retirement and Pension System to review its investment holdings, specifically looking for "Israel-restricted investments," which are defined as investments in the Development Corporation for Israel, any security or asset associated with the government of Israel, or any bond or sovereign debt issued by the government of Israel. The Board must then take "divestment action," meaning selling, redeeming, transferring, or otherwise disposing of these investments, from actively managed separate accounts, which are accounts managed by the Board and held separately for the various state retirement systems, excluding indexed, private equity, real estate, or other pooled or passively managed funds. Furthermore, the Board is prohibited from making any new investments from net new funds into these Israel-restricted investments, though they can exclude divestment actions that cannot be executed at fair market value or greater. The Board must report its divestment actions and other relevant developments twice a year to specific legislative committees. Importantly, the Board and its fiduciaries are protected from liability for actions taken in good faith to comply with these divestment requirements, provided these actions are consistent with their fiduciary responsibilities and applicable human rights laws.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1455?ys=2026RS