The proposed bill aims to restrict fiduciary actions by the Alaska Retirement Management Board and the Alaska Permanent Fund Corporation Board, specifically prohibiting them from taking investment actions that further social, political, or ideological interests. New language added to AS 37.10.071, AS 37.10.220, and AS 37.13.120 outlines that such actions are deemed to have a social, political, or ideological purpose if they involve commitments to issues like greenhouse gas emissions, corporate governance based on social criteria, divestment from companies not meeting environmental standards, access to abortion or gender transition services, and investments related to firearms.

The bill emphasizes that fiduciaries must avoid actions that could be interpreted as promoting these interests, except where required by federal or state law. This legislative change seeks to ensure that investment decisions are made solely based on financial considerations rather than social or political agendas.

Statutes affected:
HB0006A, AM HB 6, introduced 01/10/2025: 37.10.071, 18.80.220, 37.10.220, 37.13.120