S.F. No. 4441 Summary

• Prohibits the State Board of Investment from making new investments in companies that boycott mining, energy production, production agriculture, or commercial lumber production, and requires divestment from existing holdings in such companies by July 1, 2027.

• Requires all state vendors to certify they do not boycott and will not boycott mining, energy production, production agriculture, or commercial lumber production, with a $10,000 civil penalty for violations.

• Prohibits banks, credit unions, financial institutions, payment processors, savings and loan associations, and trust companies from refusing services or discriminating based solely on political affiliation or value-based/impact-based criteria including social credit scores and environmental, social, and governance factors.

• Requires financial institutions using subjective standards for investments or services to fully disclose and explain such standards to customers in writing before entering into contracts.

• Establishes a $10,000 civil penalty for financial institutions found in violation, and allows persons denied services to seek injunctive relief and $10,000 in damages.