Bill > HB474

This bill prohibits the Boards of Control for the Employees' Retirement System and the Teachers' Retirement System of Alabama from investing in or lending assets to "restricted entities," which are broadly defined to include Chinese companies or entities that are affiliated with the Chinese military, have been sanctioned by the U.S. government for national security concerns, are involved in human rights abuses like forced labor, or are otherwise designated by the U.S. government for investment restrictions. The State Auditor will be responsible for creating and maintaining a list of these restricted entities, which will be updated every six months, and the retirement systems must then divest any existing holdings in these entities. This measure aims to prevent state retirement funds from supporting entities deemed a threat to national security or human rights.

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