House Bill 34
Relating to prohibiting the investment of state money in certain countries and in certain private business entities in those countries.
Bill facts
Bill facts
- Authors
- Metcalf; Hefner; Bonnen; Capriglione.
- Last action
- June 20, 2025. Effective on 9/1/25.
- Version analyzed
- Enrolled, posted May 24, 2025.
- Subjects
- Governor, Intergovernmental Relations, Retirement Systems, State Agencies, Boards & Commissions, State Finances.
Bottom line
Bottom line
This version bars public investing entities, including the state employee and teacher retirement systems, from acquiring securities of China, Iran, North Korea, Russia or a governor-designated country, or of entities owned, controlled or subject to their jurisdiction, and from investing or depositing in banks based there. Companies tied to those countries join the comptroller's scrutinized list and face divestment if they do not restructure within 90 days of notice. The ratings point both ways: state and local debt and unfunded liabilities and judicial predictability are each -1 Moderate and spending growth is -1 Small, while public records access is +1 Small.