Relating to investment in private prisons; declaring an emergency.

Directs Oregon Investment Council and State Treasurer to try to ensure that moneys in Public Employees Retirement Fund are not invested in companies that operate private prisons or corporations that own more than one million shares in companies that operate private prisons. Directs State Treasurer to adopt engagement policy with private investment fund managers and to encourage managers to end investments with companies that operate private prisons or corporations that own more than one million shares in companies that operate private prisons. Requires notices to fund managers, companies and Oregon Investment Council. Specifies contents of notices. Applies subject to specified fiduciary standards. Declares emergency, effective on passage.