FL S0538

Requires the State Board of Administration to divest from and prohibit investment in U.S.-domiciled companies or their foreign subsidiaries that do business with Venezuela's government or its agencies in violation of federal law.

Prohibits the State Board of Administration from voting in favor of proxy resolutions advocating expanded U.S. trade with Venezuela, Cuba, or Syria.

Prohibits all state agencies from investing in financial institutions or companies domiciled in the U.S., or foreign subsidiaries thereof, that make loans, extend credit, advance funds, or trade goods or services with Venezuela's government in violation of federal law.

Defines "government of Venezuela" as the Venezuelan government, its agencies, instrumentalities, or companies majority-owned or controlled by the Venezuelan government.

Allows the Governor to waive these requirements in cases of Venezuelan government collapse requiring immediate humanitarian aid or for other humanitarian reasons.