CA AB2780

Prohibits California public employee retirement boards from making new investments or renewing existing investments in government of Azerbaijan or Turkey upon passage of federal sanctions law related to Turkey's economic blockade of Armenia.

Requires boards to liquidate existing investments in Azerbaijan or Turkey within 18 months of federal sanctions passage.

Exempts investment vehicles if the issuing financial institution adopts a resolution pledging not to engage in discriminatory practices supporting the Armenia blockade, with annual certifications required under penalty of perjury.

Requires boards to report to the Legislature and Governor within one year, listing liquidated investments and those retained due to fiduciary concerns.

Automatically repeals on January 1, 2026, or earlier if Turkey and/or Azerbaijan cease their economic blockade of Armenia.