The bill aims to revise the Board of Investment laws in Montana by limiting state investments in foreign adversaries and mandating divestment from such entities. It establishes that the Montana Board of Investments cannot invest in securities from jurisdictions where the Public Company Accounting Oversight Board has not conducted necessary inspections due to local laws or policies. The board is required to consult with the Securities and Exchange Commission biennially to ensure compliance and must divest from non-compliant securities when feasible without incurring losses.

Additionally, the bill promotes better investment practices by encouraging collaboration with other state entities to focus on international funds that comply with the Sarbanes-Oxley Act of 2002 and avoid investments in foreign adversaries. A "foreign adversary" is defined as any foreign government or entity identified by the Secretary of Commerce as having engaged in conduct harmful to U.S. national security. The new sections introduced in the bill are intended to be integrated into existing laws under Title 17, chapter 6, part 2.