AK HB2

Prohibits the Alaska Permanent Fund, state retirement systems, Supplemental Annuity Plan, and deferred compensation program from investing in publicly traded securities of companies conducting business operations in Iran that meet or exceed the $20,000,000 threshold under the Iran Sanctions Act of 1996.

Requires the Commissioner of Revenue to create and update quarterly a list of scrutinized companies, provide written notice to identified companies, and allow 90 days for companies to demonstrate they do not meet the investment threshold before adding them to the divestment list.

Mandates divestment of current holdings within 90 days of a company being placed on the scrutinized list, with exemptions for commingled investments and index funds that are not solely owned.

Provides immunity and indemnification to the state, Commissioner of Revenue, fiduciaries, investment managers, and board members from liability for divestment decisions made in compliance with the Act.

Requires the Commissioner to report annually by January 31 to legislative leadership and the U.S. presidential special envoy for Iran regarding companies on the scrutinized list; the Act automatically repeals when Iran is removed from the State Department's terrorism list or Congress/the President declares the divestment interferes with U.S. foreign policy.