HB23-1092 Summary

• Requires PERA (Public Employees' Retirement Association) to make investments solely based on financial factors and prohibits investment in entities with stated commitments to further social, political, or ideological interests beyond what state and federal law require.

• Defines "nonfinancial commitment" to include actions related to greenhouse gas emissions, corporate diversity criteria, abortion access facilitation, and firearm-related divestment.

• Mandates government contracts over $100,000 with companies having 10+ employees include written verification that the contractor does not engage in economic boycotts and will not during the contract term.

• Requires the State Treasurer to invest state money solely on financial factors and prohibits investment in entities with stated nonfinancial commitments, with exceptions when no economically practicable alternatives exist.

• Grants the Attorney General enforcement authority over PERA and state treasurer investment requirements, and over government contracts, with penalties including treble damages (three times amounts paid) for violations.