Illinois · 104th session
Creates the Foreign Adversary Divestment Act. Defines "foreign adversary" as the People's Republic of China, the Russian Federation, the Islamic Republic of Iran, the Democratic People's Republic of Korea, the Republic of Cuba, or any other entity deemed to be a foreign adversary by the Governor in consultation with the Director of the Illinois Emergency Management Agency and Office of Homeland Security. Provides that all State-managed funds and local-managed funds are prohibited from holding investments in any foreign adversary, State-owned enterprise of a foreign adversary, company domiciled within a foreign adversary, or company owned or controlled by a foreign adversary, State-owned enterprise of a foreign adversary, company domiciled within a foreign adversary, or other entity within a foreign adversary. Provides that all State-managed funds and local-managed funds are prohibited from investing or depositing public funds into any bank that is domiciled or has its principal place of business in a foreign adversary. Requires all State-managed funds to immediately in good faith begin divestment of prohibited holdings under the Act. Provides that total divestment must be…
Referred to Assignments (2026-02-06)