Illinois SB2365 prohibits state and local funds from investing in foreign adversaries and state-owned enterprises of these adversaries.

Illinois SB2365, the Foreign Adversary Divestment Act, defines "foreign adversary" as specific countries and entities deemed adversaries by the Governor. The Act prohibits state-managed and local-managed funds from holding investments in these adversaries or state-owned enterprises. It mandates the Illinois State Board of Investment to identify restricted companies and distribute a list to affected funds. Funds must begin divestment immediately and achieve total divestment by January 1, 2027, or two years after the Act's effective date, whichever is earlier.

Illinois SB2365 prohibits state and local funds from investing in foreign adversaries and state-owned enterprises of these adversaries.

Illinois SB2365, the Foreign Adversary Divestment Act, defines "foreign adversary" as specific countries and entities deemed adversaries by the Governor. The Act prohibits state-managed and local-managed funds from holding investments in these adversaries or state-owned enterprises. It mandates the Illinois State Board of Investment to identify restricted companies and distribute a list to affected funds. Funds must begin divestment immediately and achieve total divestment by January 1, 2027, or two years after the Act's effective date, whichever is earlier.