HB 161 Summary

• State Treasurer must develop and maintain a publicly available list of companies engaged in boycotts of Israel within 120 days, using state lists, federal guidance, and credible information from nonprofits and research firms.

• North Carolina Retirement Systems and State Treasurer prohibited from investing in companies identified as boycotting Israel; existing investments must be divested within 180 days of list adoption.

• Companies on the Israel boycott list are ineligible to contract with the State or its political subdivisions; any contracts entered into are void ab initio, except contracts valued at $1,000 or less.

• Before listing a company, State Treasurer must provide 90 days' written notice and opportunity for the company to demonstrate it is not engaged in boycott activities or has ceased them with written certification.

• Amends Sudan and Iran divestment statutes to clarify definitions, streamline procedures, change update cycles from quarterly/180-day to annual basis, and simplify reporting requirements to Joint Legislative Commission on Governmental Operations.