Illinois SB3991 mandates divestment of public funds from foreign adversaries and related entities.
Illinois SB3991, the Foreign Adversary Divestment Act, prohibits State-managed and local-managed funds from investing in foreign adversaries, including the People's Republic of China, the Russian Federation, and others. It mandates divestment from these entities by January 1, 2028, or two years after the Act's effective date, whichever is earlier. The Act also bans investments in companies domiciled in or controlled by foreign adversaries. The Illinois State Board of Investment must identify and report on companies meeting these criteria.
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