Alabama HB474 prohibits the Board of Control of the Employees' Retirement System and the Teachers' Retirement System from investing in entities.

Alabama HB474 mandates that the Board of Control of the Employees' Retirement System and the Teachers' Retirement System cannot invest in restricted entities affiliated with Communist Chinese military companies. These restricted entities include Chinese entities designated by specific Presidential Executive Orders and those listed by various U.S. government agencies. The State Auditor must create and update a list of these restricted entities every six months. The Board must divest from any current holdings in these entities and avoid future investments.

Alabama HB474 prohibits the Board of Control of the Employees' Retirement System and the Teachers' Retirement System from investing in entities.

Alabama HB474 mandates that the Board of Control of the Employees' Retirement System and the Teachers' Retirement System cannot invest in restricted entities affiliated with Communist Chinese military companies. These restricted entities include Chinese entities designated by specific Presidential Executive Orders and those listed by various U.S. government agencies. The State Auditor must create and update a list of these restricted entities every six months. The Board must divest from any current holdings in these entities and avoid future investments.