The proposed Bill No. 1092 aims to enhance neutrality and transparency in the investment of public funds by amending existing statutes. Key provisions include requiring fiduciaries of public funds to focus solely on financial factors in their decision-making processes, prohibiting state contracts and public investments in companies that engage in intentional discrimination, and banning the use of social credit scoring by financial institutions. Additionally, the bill mandates full disclosure and transparency regarding the policies and investments of state boards of investment and other government agencies, empowers attorneys general to investigate environmental, social, and governance (ESG) institutions, and prohibits ESG considerations in state and local pensions, contracts, and publicly funded education.

Furthermore, the bill seeks to strengthen ethics codes for financial advisors who fail to disclose politically motivated investment practices. The proposed changes reflect a commitment to protecting state finances from potentially poor investment decisions and ensuring that public funds are managed with a focus on financial integrity rather than social or political agendas.