67-2345. DISFAVORED STATE INVESTMENTS. (1) In addition to investment standards in applicable law, public entities engaging in investment activities with an investment agent shall apply the Idaho uniform prudent investor act, chapter 5, title 68, Idaho Code, when selecting investments. No public entity engaged in investment activities shall consider environmental, social, or governance characteristics in a manner that could override the prudent investor rule. A public entity serving as a fiduciary to select investment options for investors may offer environmental, social, and governance preferred investment alternatives, but such investments shall not be required and sufficient alternatives must be also offered.
(2) Public entities engaging in investment activities with an investment agent shall require notification to the public entity if the investment agent adopts a policy or revises a policy related to disfavored investments applicable to the public entity’s investment.
(3) Proxies for all public entities belong to that entity. If voting of proxies is delegated to the investment agent, they shall be exercised in the best interests and for the exclusive benefit of the public entity or the beneficiaries of the investment. All voting proxies will be posted quarterly or may be provided subject to a public records request as provided in chapter 1, title 74, Idaho Code.
(4) As used in this section:
(a) "Disfavored investments" include but are not limited to investments or investment limitations identified as against the public policy of the state of Idaho by statute, concurrent resolution, or executive order.
(b) "Investment activities" means the placement of moneys with an investment agent to acquire an asset on behalf of the public entity with the goal of generating income or appreciation.
(c) "Investment agent" means a third-party investment manager.
(d) "Public entity" means the state of Idaho or any political subdivision thereof, including all boards, commissions, agencies, institutions, authorities, and bodies politic and corporate of the state, created by or in accordance with state law or regulations.
History:
[67-2345, added 2022, ch. 299, sec. 1, p. 942.]
Structure Idaho Code
Title 67 - STATE GOVERNMENT AND STATE AFFAIRS
Chapter 23 - MISCELLANEOUS PROVISIONS
Section 67-2301 - EXEMPTION FROM PAYMENT OF FEES.
Section 67-2302 - PROMPT PAYMENT FOR GOODS AND SERVICES.
Section 67-2303 - DISPLAY OF POW/MIA FLAG.
Section 67-2303A - FLAGS — PROPER PROTOCOL.
Section 67-2309 - WRITTEN PLANS AND SPECIFICATIONS FOR WORK TO BE MADE BY OFFICIALS — AVAILABILITY.
Section 67-2310 - SUBCONTRACTORS TO BE LISTED ON BID OF GENERAL CONTRACTOR — EXCEPTIONS.
Section 67-2311 - PURPOSE OF ACT.
Section 67-2312 - PUBLIC BUILDINGS SUBJECT TO SAFETY INSPECTION.
Section 67-2313 - INSPECTIONS.
Section 67-2314 - REPORT OF INSPECTION.
Section 67-2316 - DUTY OF AGENCY IN CONTROL OF BUILDINGS.
Section 67-2317 - HEARING AND DECISION OF DISPUTED ISSUES.
Section 67-2318 - EMERGENCY EXPENDITURES.
Section 67-2319 - PURCHASING PRODUCTS OF REHABILITATION FACILITIES.
Section 67-2321 - CHANGE OF NAME OF TAXING DISTRICT — HEARING — ELECTION — EXCEPTIONS.
Section 67-2323 - WRITTEN AGREEMENT BEFORE TRANSFER — PUBLICATION OF NOTICE.
Section 67-2324 - TWO-THIRDS VOTE REQUIRED FOR APPROVAL.
Section 67-2325 - POWER TO CONVEY UNDER OTHER LAWS NOT LIMITED.
Section 67-2326 - JOINT ACTION BY PUBLIC AGENCIES — PURPOSE.
Section 67-2327 - DEFINITIONS.
Section 67-2328 - JOINT EXERCISE OF POWERS.
Section 67-2330 - APPROVAL OF APPROPRIATE STATE OFFICER OR AGENCY.
Section 67-2331 - FUNDS — PROPERTY — PERSONNEL — SERVICES.
Section 67-2332 - INTERAGENCY CONTRACTS.
Section 67-2332A - INTERAGENCY CONTRACTS WITH STATE INSTITUTIONS OF HIGHER EDUCATION.
Section 67-2333 - POWERS OF AGENCIES NOT INCREASED OR DIMINISHED.
Section 67-2334 - “VOLUNTEER” DEFINED.
Section 67-2335 - ACCEPTANCE OF VOLUNTEERS — EXPENSES.
Section 67-2336 - QUALIFICATIONS OF VOLUNTEERS.
Section 67-2337 - EXTRATERRITORIAL AUTHORITY OF PEACE OFFICERS.
Section 67-2338 - EXTRATERRITORIAL BENEFITS OF PUBLIC OFFICERS.
Section 67-2339 - MUTUAL AID BY STATE AGENCIES.
Section 67-2340 - REGULATION OF AUXILIARY CONTAINERS.
Section 67-2345 - DISFAVORED STATE INVESTMENTS.
Section 67-2346 - ANTI-BOYCOTT AGAINST ISRAEL ACT.
Section 67-2348 - PREFERENCE FOR IDAHO DOMICILED CONTRACTORS ON PUBLIC WORKS.
Section 67-2349 - PREFERENCE FOR IDAHO SUPPLIERS AND RECYCLED PAPER PRODUCTS FOR PURCHASES.
Section 67-2350 - SNOW REMOVAL RESPONSIBILITIES.
Section 67-2351 - SHORT TITLE.
Section 67-2352 - DEFINITIONS.
Section 67-2353 - CITY OR COUNTY REQUEST FOR ADVICE.
Section 67-2354 - DEPARTMENT RESPONSIBILITIES.
Section 67-2355 - CONSIDERATION OF APPLICATION — LOCAL REGULATION.