NC H417

The State Treasurer must adopt a policy within 30 days of July 1, 2023, prohibiting the North Carolina Retirement Systems and Department of the State Treasurer from investing in companies that boycott energy companies.

The State Treasurer shall develop and maintain a publicly available list of restricted companies engaged in boycotts of energy companies, updating it annually, with companies given 90 days' notice and an opportunity to respond before inclusion.

Companies on the restricted company list are ineligible to contract with the State or any political subdivision, and any new contracts entered into with such companies are void ab initio, though existing contracts may expire according to their terms.

Exceptions allow contracts valued at $1,000 or less and case-by-case exemptions when a State agency determines commodities or services are necessary to perform its functions and cannot be obtained elsewhere.

State agencies may disqualify restricted companies from bidding processes and require contract terms prohibiting boycotts of energy companies, with agencies immune from liability for actions taken in compliance with this Part.