Prohibits the investment of certain public funds with companies owned by elected officials

This bill prohibits public retirement and pension funds from investing in companies where elected officials (at local, state, or federal levels) own a majority stake, either individually or collectively. It also bars investments in banks or financial institutions that have business relationships with such companies. Funds must divest violating investments within one year, and the comptroller must report all violations and progress annually to the legislature. The law applies directly to public pension systems managed by the comptroller, aiming to prevent conflicts of interest in fund investments.