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HCS/HB 2357 - This act requires investment managers for all public employee retirement systems to certify twice a year that the plan's assets are not invested in the stock of any foreign company with business ties to any country designated as a state sponsor of terror by the U.S. State Department, notwithstanding any other laws to the contrary. The determination of whether a company has business ties to one of these prohibited countries must be based on the assessment of a private U.S. company that specializes in global security risk assessment. The board of each retirement system and the system will be exempt from any conflicting statutory obligations based on their actions taken to comply with the prohibition on investments in these companies. EMILY KALMER
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