Alaska 2025-2026 Regular Session

Alaska House Bill HB6 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
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2	2	HB0006a -1- HB 6
3	3	New Text Underlined [DELETED TEXT BRACKETED]
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5	5	34-LS0160\A
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10	10
11	11	HOUSE BILL NO. 6
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13	13	IN THE LEGISLATURE OF THE STATE OF ALASKA
14	14
15	15	THIRTY-FOURTH LEGISLATURE - FIRST SESSION
16	16
17	17	BY REPRESENTATIVE MCCABE
18	18
19	19	Introduced: 1/10/25
20	20	Referred: Prefiled
21	21
22	22
23	23	A BILL
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25	25	FOR AN ACT ENTITLED
26	26
27	27	"An Act restricting fiduciary actions by a fiduciary of a state fund, the Alaska 1
28	28	Retirement Management Board, and the Alaska Permanent Fund Corporation Board 2
29	29	that have the purpose of furthering social, political, or ideological interests." 3
30	30	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 4
31	31	* Section 1. AS 37.10.071 is amended by adding a new subsection to read: 5
32	32	(g) The fiduciary of a state fund may not take an action involving investment 6
33	33	under this section for the purpose of furthering a social, political, or ideological 7
34	34	interest. Except as required under applicable federal or state law, an action is 8
35	35	considered to have the purpose of furthering a social, political, or ideological interest 9
36	36	if evidence indicates a commitment to 10
37	37	(1) eliminating, reducing, offsetting, or disclosing greenhouse gas 11
38	38	emissions; 12
39	39	(2) instituting or assessing corporate board or employee composition, 13
40	40	compensation, or disclosure criteria based on social, political, or ideological 14 34-LS0160\A
41	41	HB 6 -2- HB0006a
42	42	New Text Underlined [DELETED TEXT BRACKETED]
43	43
44	44	characteristics or practices prohibited under AS 18.80.220; 1
45	45	(3) divesting from, limiting investment in, or limiting the activities or 2
46	46	investments of a company for failing, or not committing, to meet environmental 3
47	47	standards or disclosures; 4
48	48	(4) providing or limiting access to abortion, sex or gender change, or 5
49	49	transgender surgery; or 6
50	50	(5) divesting from, limiting investment in, or limiting the activities or 7
51	51	investments of a company for engaging in, facilitating, or supporting the manufacture, 8
52	52	distribution, sale, or use of firearms. 9
53	53	* Sec. 2. AS 37.10.220 is amended by adding a new subsection to read: 10
54	54	(d) The board may not take an action involving investment of the funds 11
55	55	entrusted to the board for the purpose of furthering a social, political, or ideological 12
56	56	interest. Except as required under applicable federal or state law, an action is 13
57	57	considered to have the purpose of furthering a social, political, or ideological interest 14
58	58	if evidence indicates a commitment to 15
59	59	(1) eliminating, reducing, offsetting, or disclosing greenhouse gas 16
60	60	emissions; 17
61	61	(2) instituting or assessing corporate board or employee composition, 18
62	62	compensation, or disclosure criteria based on social, political, or ideological 19
63	63	characteristics or practices prohibited under AS 18.80.220; 20
64	64	(3) divesting from, limiting investment in, or limiting the activities or 21
65	65	investments of a company for failing, or not committing, to meet environmental 22
66	66	standards or disclosures; 23
67	67	(4) providing or limiting access to abortion, sex or gender change, or 24
68	68	transgender surgery; or 25
69	69	(5) divesting from, limiting investment in, or limiting the activities or 26
70	70	investments of a company for engaging in, facilitating, or supporting the manufacture, 27
71	71	distribution, sale, or use of firearms. 28
72	72	* Sec. 3. AS 37.13.120 is amended by adding a new subsection to read: 29
73	73	(f) The board may not take an action involving investment of the fund for the 30
74	74	purpose of furthering a social, political, or ideological interest. Except as required 31 34-LS0160\A
75	75	HB0006a -3- HB 6
76	76	New Text Underlined [DELETED TEXT BRACKETED]
77	77
78	78	under applicable federal or state law, an action is considered to have the purpose of 1
79	79	furthering a social, political, or ideological interest if evidence indicates a commitment 2
80	80	to 3
81	81	(1) eliminating, reducing, offsetting, or disclosing greenhouse gas 4
82	82	emissions; 5
83	83	(2) instituting or assessing corporate board or employee composition, 6
84	84	compensation, or disclosure criteria based on social, political, or ideological 7
85	85	characteristics or practices prohibited under AS 18.80.220; 8
86	86	(3) divesting from, limiting investment in, or limiting the activities or 9
87	87	investments of a company for failing, or not committing, to meet environmental 10
88	88	standards or disclosures; 11
89	89	(4) providing or limiting access to abortion, sex or gender change, or 12
90	90	transgender surgery; or 13
91	91	(5) divesting from, limiting investment in, or limiting the activities or 14
92	92	investments of a company for engaging in, facilitating, or supporting the manufacture, 15
93	93	distribution, sale, or use of firearms. 16