AZ HB2656

Prohibits financial institutions doing business in Arizona from discriminating against any person based on political affiliation or environmental, social, and governance (ESG) criteria.

Allows financial institutions to offer investments with subjective standards if fully disclosed to customers or investors before contract execution.

Requires the state treasurer to maintain and publish a list of state investments and investment managers on a publicly accessible website, updated within a reasonable timeframe.

Mandates investment managers to attest in writing that they do not hold environmental, social, or governance-related investments, with the state treasurer certifying and posting this information publicly.

Requires state investment decisions to be based solely on pecuniary factors in the beneficiary taxpayer's interest, prohibiting non-pecuniary social goals and unnecessary investment risks.