A bill for an act prohibiting the state board of regents from investing public moneys in companies that are owned or controlled by Chinese military or government services and including effective date provisions.(Formerly HSB 41.)
Impact
The implementation of HF181 is expected to impact state laws concerning the investment practices of publicly funded institutions, particularly those under the purview of the state board of regents. By requiring rigorous oversight and the creation of a scrutinized companies list, the bill aims to safeguard public investments from potential risks associated with entities linked to foreign military operations. The board is tasked with reviewing its holdings and must divest from any identified prohibited companies within a specified timeframe, which could influence investment strategies and choices.
Summary
House File 181 (HF181) establishes significant restrictions on investment choices made by the Iowa state board of regents. Specifically, the bill prohibits the board from investing public moneys in companies that are owned or controlled by Chinese military or governmental entities. This legislation addresses growing concerns over national security and foreign influence, particularly in how public funds are managed and allocated concerning companies with ties to the Chinese government. The bill also stipulates that the board must identify and maintain a list of scrutinized companies subject to these investment restrictions.
Contention
While proponents of HF181 argue that the bill is essential for protecting Iowa's financial interests from foreign adversaries, several points of contention have been raised during discussions. Critics of the bill suggest that it may lead to overreach, limiting the board's investment flexibility and potentially impacting the financial returns necessary to fund educational institutions. There are also concerns about the practical implications of determining which entities are considered scrutinized companies, as well as the transparency and accuracy of the lists maintained by the board. These factors raise important questions about economic ramifications and the balance between security and investment efficacy.
Related
A bill for an act prohibiting the state board of regents from investing public moneys in companies that are owned or controlled by Chinese military or government services and including effective date provisions.(See HF 181.)
A bill for an act prohibiting the state board of regents from investing public moneys in companies that are owned or controlled by Chinese military or government services and including effective date provisions.(See HF 181.)
A bill for an act relating to the investment of certain public funds in certain companies, concerning companies that are owned or controlled by Chinese military or government services and public fund review requirements. (Formerly SF 98.) Effective date: 07/01/2023.
A bill for an act relating to the investment of certain public funds in companies that are owned or controlled by Chinese military or government services.(See SF 418.)
Public Investments; to prohibit Board of Control of ERSA and TRSA from investing with restricted entities affiliated with Communist Chinese military companies
Relating to state contracts with Chinese companies and investments in Chinese companies and certain companies doing business with China; authorizing a civil penalty.
Public Investments; to prohibit Board of Control of ERSA and TRSA from investing with restricted entities affiliated with Communist Chinese military companies
Relating to public investments; to require the State Treasurer and the Boards of Control of the Retirement Systems of Alabama and the Judicial Retirement Fund to establish and maintain a list of certain companies owned or controlled by Chinese military or government services and designated by the U.S. government as companies with whom U.S. citizens are restricted from entering into transactions; to make this list available to the public; to prohibit the State Treasurer and the Boards of Control of the Retirement Systems of Alabama and the Judicial Retirement Fund from acquiring direct holdings in publicly traded securities of a listed company, and requiring the sale, redemption, divestment, or withdrawal of all direct holdings in publicly traded securities of a listed company within 180 days after the company becomes a listed company; and to define terms.
A bill for an act requiring reporting by regents institutions of funding from certain foreign sources and including effective date provisions.(Formerly HSB 54.)