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NJ S470
Bill
Status
1/13/2026
Primary Sponsor
Brian Stack
Click for details
AI Summary
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Prohibits New Jersey pension and annuity funds from investing in companies engaged in government contracts involving collection, manipulation, or surveillance of personal data without a warrant to determine individuals' citizenship or immigration status
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Requires the State Investment Council and Division of Investment Director to contract with an independent data privacy research firm and consult with the State Chief Technology Officer to identify companies engaged in prohibited activities
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Mandates divestment from identified companies by January 1 of the second year following enactment, while allowing flexibility to avoid premature or imprudent sales
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Requires an initial report within 120 days and annual reports on February 1 identifying companies requiring divestment, progress made, and remaining prohibited investments
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Provides legal indemnification for State Investment Council members and state employees from claims arising from divestment decisions under this bill
Legislative Description
Prohibits investment by State of pension and annuity funds in companies engaging in government contracts or business operations infringing on data privacy of individuals for purpose of determining immigration status.
State Government, Wagering, Tourism & Historic Preservation
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
1/13/2026