Public Investments; to prohibit the Board of Control of the Employees' Retirement System and the Teachers' Retirement System from investing with restricted entities affiliated with Communist Chinese military companies

HB 474 prohibits Alabama's Teachers' and Employees' Retirement Systems from investing in securities tied to Chinese military-linked companies or their affiliates, as defined by federal designations (including Executive Orders 13959 and 14032). The law requires the State Auditor to maintain a list of restricted entities and mandates retirement systems to divest from these holdings by January 2027. It applies to all retirement fund investments, including derivatives and related financial products, aligning with U.S. national security restrictions on such investments. The bill directly affects Alabama's public employee and teacher pension funds.