Senate Bill No. introduced by K. Bogner aims to revise the laws governing the Montana Board of Investments by limiting state investments in securities that are deemed unaccountable. The bill establishes a new section that mandates the board to ensure that its investments align with the constitutional principles of prudent, safe, and conservative investments as outlined in Article VIII, section 13 of the Montana Constitution. Specifically, the board is prohibited from investing in securities listed on exchanges where the federal Public Company Accounting Oversight Board has not conducted necessary inspections due to jurisdictional laws or policies. Additionally, the board is required to consult with the Securities and Exchange Commission biennially to ensure compliance and must divest from any non-compliant securities when feasible without incurring losses.

The bill also includes provisions for codification, indicating that the new section will be integrated into Title 17, chapter 6, part 2 of the Montana Code. Furthermore, it establishes an effective date for the act, set for July 1, 2025. Definitions for key terms such as "Board" and "Registered public accounting firm" are provided to clarify the language of the bill.