Texas SB667 prohibits state retirement systems from investing in certain Chinese-affiliated entities.

Texas SB667 prohibits state retirement systems from investing in certain Chinese-affiliated entities. The bill defines a "Chinese-affiliated entity" as an entity incorporated or headquartered in China, controlled by China, or listed by the U.S. Secretary of Defense as a Chinese military company. The bill requires the comptroller to maintain a list of restricted entities and mandates divestment from these entities. State retirement systems must remove 50% of assets within 180 days and 100% within 360 days.

Texas SB667 prohibits state retirement systems from investing in certain Chinese-affiliated entities.

Texas SB667 prohibits state retirement systems from investing in certain Chinese-affiliated entities. The bill defines a "Chinese-affiliated entity" as an entity incorporated or headquartered in China, controlled by China, or listed by the U.S. Secretary of Defense as a Chinese military company. The bill requires the comptroller to maintain a list of restricted entities and mandates divestment from these entities. State retirement systems must remove 50% of assets within 180 days and 100% within 360 days.