1Amending Title 72 (Taxation and Fiscal Affairs) of the
2Pennsylvania Consolidated Statutes, prohibiting investments 
3in state sponsors of criminalized sexual orientation or 
4gender identity.

5The General Assembly of the Commonwealth of Pennsylvania
6hereby enacts as follows:

7Section 1. Title 72 of the Pennsylvania Consolidated
8Statutes is amended by adding a part to read:

9PART III

10FISCAL AFFAIRS

11Chapter

1271. Prohibited Investments

13CHAPTER 71

14PROHIBITED INVESTMENTS

15Sec.

167101. Definitions.

177102. Criminalized sexual orientation or gender identity.

18§ 7101. Definitions.

1The following words and phrases when used in this chapter
2shall have the meanings given to them in this section unless the
3context clearly indicates otherwise:

4"Entity." A corporation, partnership, limited liability
5company, business trust, other association, government entity,
6other than the United States of America and the states that
7comprise it, estate, trust, foundation or natural person.

8"Public fund." A Commonwealth fund, including the State
9Employees' Retirement Fund and the Public School Employees'
10Retirement Fund. The term includes the State entity responsible
11for administering the fund.

12"State sponsor of criminalized sexual orientation or gender
13identity." The term includes a country identified or designated
14by the Department of State as having sponsored or repeatedly
15provided support for criminalized sexual orientation or gender
16identity.

17§ 7102. Criminalized sexual orientation or gender identity.

18(a) Prohibited investments.--Beginning 60 days after the
19effective date of this section, a public fund may not invest in
20the stocks, securities or other obligations of an entity engaged
21in business with a state sponsor of criminalized sexual
22orientation or gender identity. If the public fund becomes aware
23that it has invested in violation of this subsection, the public
24fund shall immediately move to divest itself of the investment
25in a prudent manner.

26(b) Humanitarian aid exception.--A public fund shall permit
27investments in an entity:

28(1) that engages in the provision of goods and services
29that relieve human suffering or promote health or religious,
30spiritual, educational, humanitarian or journalistic

1activities; or

2(2) that conducts commercial transactions in any country
3identified as a state sponsor of criminalized sexual
4orientation or gender identity pursuant to a permit or
5license issued by the United States Government or the United
6Nations and is exempt from divestment and exclusion.

7(c) Portfolio review.--Within 90 days of the effective date
8of this section and at least annually thereafter, the public
9fund shall complete a comprehensive review of the public fund's
10investments to determine compliance with subsection (a). The
11public fund shall provide the General Assembly with a copy of
12the comprehensive review annually. If the public fund becomes
13aware that is has invested in violation of this section, the
14public fund shall immediately move to divest itself of the
15investment in a prudent manner.

16(d) Investment manager.--Each existing and future investment
17manager retained by a public fund on or after the effective date
18of this section who invests in the name of the public fund shall
19be notified by the public fund of the obligation to conduct the
20investment activities on behalf of the public fund in a manner
21designed to comply with subsection (a).

22(e) Department of State.--The Department of State shall,
23within 30 days of the effective date of this section and
24annually thereafter, compile a list of state sponsors of
25criminalized sexual orientation or gender identity, which shall
26be published in the Pennsylvania Bulletin.

27Section 2. This act shall take effect in 60 days.