AZ SB1139

Requires the state treasurer to post and regularly update a publicly accessible list of state investments and investment managers on their website.

Mandates that all state investments be made solely in the interest of beneficiary taxpayers and must be evaluated based only on pecuniary (financial) factors, prohibiting unnecessary investment risks or nonpecuniary social goals.

Defines fiduciaries as persons exercising discretionary authority over plans or assets, rendering investment advice, or administering plans that provide retirement benefits or invest taxpayer monies.

Requires fiduciaries to discharge duties solely for exclusive purpose of providing pecuniary benefits, defraying administrative expenses, and earning returns on investments, with evaluation of investments based only on pecuniary factors.

Restricts voting of plan-held shares to pecuniary interests only and prohibits plans from entrusting assets to fiduciaries that engage with companies or vote shares based on nonpecuniary factors including environmental, social, or political goals.