HB 2711: Kansas Divests from China, Cuba, Iran, Korea, Russia, and Venezuela

April 25, 2024

Summary

HB 2711 was enacted in April 2024 and became effective on July 1, 2024. It prohibits state-managed funds from acquiring new publicly traded securities and requires them to divest all existing publicly traded securities of any country of concern or of any person owned by, controlled by, or subject to the jurisdiction of any country of concern. The law lists the countries of concern as the People's republic of China (including the Hong Kong special administrative region but excluding Taiwan), republic of Cuba, Islamic republic of Iran, democratic people's republic of Korea, Russian federation, and Bolivarian republic of Venezuela. The law provides that the state will indemnify members of state-managed funds for any causes of action that arise from compliance with these requirements. The law was enacted without the Governor's signature.

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