Proposed Bill No. 1092 aims to enhance neutrality and transparency in the investment of public funds by amending current statutes. Key provisions include requiring fiduciaries of public funds to focus solely on financial factors in their decision-making processes, thereby prohibiting state contracts and public investments in companies that engage in intentional discrimination against specific industries. The bill also seeks to ban social credit scoring practices by banks and financial institutions, mandate full disclosures regarding the policies and investments of state boards, and empower attorneys general to investigate environmental, social, and governance (ESG) institutions for accountability in their management of retirement plans and pension funds.

Additionally, the bill prohibits the consideration of ESG factors in state and local pensions, state contracts, and publicly funded post-secondary education, while also strengthening ethics codes for financial advisors who fail to disclose politically motivated investment strategies. The overarching goal of this legislation is to safeguard state finances from potentially detrimental investment practices.