The bill aims to revise the laws governing the Montana Board of Investments by establishing stricter guidelines for state investments in securities. It prohibits the board from investing in securities listed on exchanges in jurisdictions where the federal Public Company Accounting Oversight Board has not conducted necessary inspections of registered public accounting firms, or where such inspections are hindered by local laws or policies. Additionally, the board is mandated to divest from any securities that do not comply with these new standards, either when it can do so without incurring a loss or whenever it is deemed prudent. The bill emphasizes adherence to the constitutional principles of prudent and conservative investments.

Furthermore, the bill includes provisions for codification, indicating that the new regulations will be integrated into Title 17, chapter 6, part 2 of the Montana Code. It also specifies that the act will take effect on July 1, 2025. Definitions for key terms such as "Board" and "Registered public accounting firm" are provided to clarify the scope and application of the new regulations.