An Act restricting fiduciary actions by a fiduciary of a state fund, the Alaska Retirement Management Board, and the Alaska Permanent Fund Corporation Board that have the purpose of furthering social, political, or ideological interests.

This bill prohibits the fiduciaries of Alaska's state funds, the Alaska Retirement Management Board, and the Alaska Permanent Fund Corporation Board from making investment decisions aimed at advancing social, political, or ideological causes. Specifically, it bars these entities from investing in or divesting from companies based on their environmental policies, diversity practices, reproductive health services, or involvement in the firearms industry, unless such actions are required by federal or state law. The legislation defines these prohibited actions by listing specific commitments, such as reducing greenhouse gas emissions or restricting access to abortion and gender-affirming care, that would trigger the investment restrictions. By amending existing statutes, the bill ensures that the management of these funds remains focused on financial returns rather than aligning with particular societal values.