AZ SB1500

Requires the state treasurer to post and maintain current lists of state investments and investment managers on a publicly accessible website, with updates made within a reasonable period of time.

Mandates that all state investments be made solely in the pecuniary interest of beneficiary taxpayers, prohibiting the state treasurer from taking unnecessary risks or promoting nonpecuniary benefits or social goals.

Defines fiduciaries as those exercising discretionary authority over plan assets, rendering investment advice, or administering plans, and requires them to discharge duties solely in the interest of participants and beneficiaries.

Prohibits fiduciaries from considering nonpecuniary factors—including environmental, social, governance, and energy company boycotts—when evaluating investments, limiting decisions to factors with material effects on financial risk or return.

Restricts voting of plan-held shares to pecuniary interests only, preventing proxy voting authority from being granted to persons who engage in nonpecuniary factor voting and prohibiting plans from retaining fiduciaries that practice nonpecuniary-based engagement or proxy voting.