AK HB5

Requires the Alaska Retirement Management Board and Alaska Permanent Fund Corporation to identify and divest from companies with active business operations in Sudan, with quarterly updates to a scrutinized companies list.

Companies are exempt from the list if their primary purpose is humanitarian work, they have adopted a plan to cease operations within one year, they undertake significant humanitarian efforts, or they have materially improved conditions for Darfur's genocide victims.

Companies with active Sudan operations must receive written notice and have 90 days to cease operations; publicly traded securities held directly by the fund must be immediately sold, with at least 50 percent of other direct holdings divested within 9 months and the remainder within 15 months total.

Requires annual reports to the legislature, attorney general, and U.S. Presidential Special Envoy for Sudan by February 1, including the updated list of scrutinized companies.

The divestment requirements automatically repeal when the U.S. Congress or President declares the Darfur genocide has halted for 12 months, all Sudan sanctions are revoked, Sudan honors humanitarian commitments, or declares that mandatory divestment interferes with U.S. foreign policy.