The bill aims to restrict the investment activities of the Alaska Retirement Management Board and the Alaska Permanent Fund Corporation Board by prohibiting them from investing state funds or conducting business with DigitalBridge Group, Inc., or any of its affiliates. This prohibition is established through amendments to existing statutes, specifically AS 37.10.071, AS 37.10.220, and AS 37.13.120, which now include new subsections explicitly stating these restrictions.

Additionally, the bill modifies AS 37.10.430(c) to include a provision that the commissioner of revenue may not invest money in a special subaccount of the budget reserve fund with DigitalBridge Group, Inc., or its affiliates. This ensures that all state funds, including those in the budget reserve fund, are safeguarded from association with DigitalBridge Group, Inc. The overall intent of the bill is to protect state investments from potential risks associated with this specific company.

Statutes affected:
SB0221A, AM SB 221, introduced 01/21/2026: 37.10.071, 37.10.220, 37.10.430, 37.13.120