HB 476 Summary

• Enacts Section 9.76 prohibiting state agencies from entering into or renewing contracts with companies that boycott any jurisdiction with which Ohio can enjoy open trade, including Israel.

• Defines "boycott" to exclude decisions based on business/economic reasons, compliance with applicable law, and boycotts against foreign state entities applied nondiscriminatorily.

• Raises the foreign debt investment cap from 1% to 2% for state interim funds in Section 135.143 and for county inactive and public library funds in Section 135.35.

• Increases foreign nation debt interest investment limits from one percent to two percent of portfolio for both state and county investment authorities.

• Requires contract declarations that companies are not boycotting and will not boycott covered jurisdictions during the contract period.