Prohibits State administered pension fund investment in corporations shifting ownership or operations outside U.S. for tax purposes.

This bill prohibits New Jersey's state pension funds from investing in corporations that shift operations or ownership outside the U.S. to reduce their tax rate by 20% or more within three years. It requires the state to sell all such investments within three years of the law's enactment and mandates two reports: one within 60 days listing current violations, and annual reports until all non-compliant investments are divested. The law directly affects the state's pension funds (which manage retirement savings for public employees) and corporations using tax-driven relocation tactics. It focuses on concrete policy changes without speculation, using plain language to define key terms like "shift in operations" or "effective tax rate."