AK HB394

Prohibits public agencies from investing state money in organizations that promote or engage in boycott or divestment campaigns targeting Alaska, Taiwan, Israel, Ukraine, or other foreign countries.

Requires the Department of Revenue to develop, maintain, and annually update a publicly available list of "restricted organizations" and provide 90 days' written notice before adding organizations to the list.

Grants organizations listed the opportunity to comment in writing and demonstrate they are not engaged in boycotts, with removal possible if they stop such activities or provide certified statements they will not resume them.

Mandates public agencies divest from restricted organizations within 180 days of list adoption, unless the department determines divestment is inconsistent with fiduciary responsibilities.

Exempts ordinary business activities, sole proprietorship investments, and investments under $5,000,000, and excludes commingled funds, derivatives, and passive index-tracking investments from the divestment requirements.