AR HB1307

Creates the ESG Oversight Committee to identify financial services providers that discriminate against energy, fossil fuel, firearms, or ammunition companies based on environmental, social justice, or governance-related factors

Requires the Treasurer of State to maintain and publish a list of discriminating financial services providers on the state website, with 45-day notice period and 30-day opportunity for providers to demonstrate non-discrimination

Mandates state divestment from listed financial services providers within 60 days for most holdings and 365 days for retirement holdings

Prohibits public entities from investing cash funds with listed financial services providers and requires divestment on the same timeline as the state

Provides exemptions from divestment requirements when early withdrawal would result in financial penalties and harm to the state, and protects investment advisors and officials from breach of fiduciary duty claims for complying with divestment obligations