HB 1347 Summary

• Adds definition of "boycott of energy companies" as refusal to deal with or termination of business activities with companies engaged in fossil fuel exploration, production, or related activities, without reasonable business purpose.

• Requires state treasurer to prepare and maintain a public list of financial institutions engaged in energy company boycotts, updated annually and posted on the treasurer's website.

• Mandates state treasurer provide 45-day advance written notice before listing a financial institution, with 30-day opportunity for the institution to demonstrate it is not engaged in energy boycotts.

• Authorizes state treasurer to disqualify listed institutions from state banking contracts and require non-boycott agreements as contract terms.

• Provides immunity from liability for public agencies, officials, employees, and financial institution members acting in compliance with the law.