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ID H0296
Bill
Status
2/21/2025
Primary Sponsor
Ways and Means Committee
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AI Summary
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Prohibits all Idaho state-managed funds—including public pension funds, government investment accounts, and university endowments—from holding investments in foreign adversaries or companies domiciled in, owned by, or controlled by foreign adversaries
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Designates six foreign adversaries based on 15 CFR 791.4 as of January 1, 2025: People's Republic of China (including Hong Kong), Cuba, Iran, North Korea, Russia, and the Venezuelan regime of Nicolás Maduro
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Requires the State Treasurer Investment Advisory Board to compile and distribute a restricted companies list to all state-managed funds by January 1, 2026
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Mandates total divestment from prohibited holdings by June 30, 2026, defined as reducing such investments to no more than 0.05% of total assets under management
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Takes effect July 1, 2025, with provisions preserving existing fiduciary requirements and federal law compliance obligations
Legislative Description
Adds to existing law to require certain governmental entities in Idaho to divest from investments in foreign adversaries.
FOREIGN ADVERSARIES
Last Action
Reported Printed and Referred to State Affairs
2/24/2025