MS HB768

Reenacts the Israel Support Act of 2019 (Sections 27-117-1 through 27-117-13) to prohibit the Public Employees' Retirement System and State Treasury from investing in companies that boycott Israel.

Requires the Executive Director of the Department of Finance and Administration to develop and annually update (by July 1) a list of companies engaged in boycotts of Israel, with 90 days written notice given to companies before inclusion.

Allows companies 90 days to demonstrate they are not engaged in boycotts of Israel and provides exceptions for pre-December 31, 2019 investments if the company has a formal plan to cease boycotts, or if investments are necessary to perform government functions.

Requires existing investments in violation of the act as of July 1, 2020 to be divested within 120 days of posting on the Department of Finance and Administration website.

Removes the repeal date of July 1, 2024 and extends the act indefinitely by deleting Section 27-117-15; effective July 1, 2024.