HB 92 Summary

• Commissioner of Revenue must create and annually update a list of companies conducting business operations in Sudan, including power production, mineral extraction, oil-related activities, and military equipment production.

• Alaska Permanent Fund and state retirement systems must divest from publicly traded securities of companies on the Sudan list within 90 days; outside investment managers must be directed to divest by January 31 annually.

• Commissioner must provide written notice to identified companies and allow 90 days for them to demonstrate they do not conduct Sudan operations before adding them to the divestment list.

• Commingled and index fund investments are exempt from mandatory divestment, but fiduciaries must request managers to consider removing Sudan-connected companies annually.

• Commissioner, fiduciaries, and investment managers receive immunity from liability and indemnification for good faith divestment actions; legislation automatically repeals when Sudan meets specified human rights commitments or U.S. foreign policy priorities change.