SB1250 Summary

• Expands the definition of "public entity" to include universities under the Arizona Board of Regents and community college districts, making them subject to divestment requirements regarding companies that boycott Israel.

• Requires public funds and public entities to divest from companies that boycott Israel within three months of the annual restricted companies list being prepared, by selling, redeeming, or withdrawing all direct holdings.

• Mandates that the state treasurer, retirement systems, and public entities post a list of divested investments on their websites by August 1 of each year.

• Provides immunity from fiduciary duty obligations and indemnifies the state treasurer, retirement systems, and public entities from liability for divestment decisions made under this statute.

• Allows companies on the restricted list to be removed if they provide written certification that they have ceased boycotting Israel and will not engage in boycott activities while the state or retirement systems invest in them.