MS HB1127

Prohibits the Public Employees' Retirement System and State Treasurer from investing with persons engaged in investment activities in Iran's energy sector valued at $20 million or more.

Requires the Executive Director of the Department of Finance and Administration to develop and maintain an annually updated list of persons engaged in Iran investment activities, with 90-day notice and opportunity to comment before inclusion.

Allows exceptions for investments made before July 1, 2015 that have not been expanded and where the person has adopted a formal divestment plan, or when investments are necessary to perform functions.

Requires divestment of existing violating investments within 120 days after the list is posted, unless prohibited by fiduciary obligations or lack of appropriated funds.

Indemnifies state officials and employees from liability for investment restrictions under this act and requires the Secretary of State to notify the U.S. Attorney General by August 1, 2015.