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HB 1561OKLAHOMASession 2026State Billdead
Did Not Advance

Oklahoma Bill HB 1561 Requires Divestment from Foreign Adversary Investments by State and Local Funds

Original title: Public finance; Foreign Adversary Divestment Act of 2025; findings; definitions; investments; pension systems; liability; immunity; effective date.

Last action · April 1, 2025: Second Reading referred to Revenue and TaxationSponsors: Mark Lepak and 2 others

Bill progressHistory & official text ↓
Introduced
Committee
Floor Vote
Passed
Law

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What This Bill Proposed

Oklahoma House Bill 1561 enacts the Act of 2025, prohibiting all state and local managed funds from holding investments in foreign adversaries, state-owned enterprises, or companies domiciled within foreign adversary nations by January 1, 2036. The legislation requires s and public pension systems to identify and divest prohibited holdings, while granting legal immunity and indemnification to public pension systems, state officials, and employees against damages arising from required divestment actions.

Why it matters

State and local public investment funds, university endowments, and public pension systems must alter their investment portfolios and banking relationships to eliminate holdings tied to designated foreign adversaries. Public pension beneficiaries and taxpayers are impacted by portfolio adjustments, while public entities and officials gain specific legal protections from damages related to market losses or compliance actions.

Background
  • State divestment legislation targeting foreign adversaries has been introduced across multiple U.S. states to address geopolitical risks in public portfolios. context

Who It Would Have Affected

Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.

Directly affected

State-managed funds

State-managed funds must identify prohibited holdings and divest them to no more than 0.0005 of total assets under management by the statutory deadline.

Directly affected

Public pension systems

Public pension systems are prohibited from holding certain foreign investments and receive specific liability protections and indemnification for compliance actions.

Directly affected

University and college endowments

Higher education endowments must comply with restrictions prohibiting investments in foreign adversaries and state-owned enterprises.

Directly affected

State Treasurer

The State Treasurer is required to develop and maintain a notification system to identify foreign adversaries and Countries of Particular Concern for affected entities.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

What funds are required to divest under this act?
All state and local managed funds are required to divest, which includes public pension funds, city and county investment funds, rainy day funds, and university or college endowments.
What is the deadline for completing the required divestment?
s must divest prohibited holdings by January 1, 2036, or ten years after the effective date of the act, whichever is earliest.
Are public pension systems liable if asset values drop due to divestment?
No, public pension systems, their governing boards, members, and employees are exempt from liability for damages based on the loss of asset value resulting from compliance with the act.

What else do you want to know?

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Where This Stands

This bill did not become law - Died at adjournment · passed the House · in Senate committee.

Procedural history

16 actions
  1. Apr 1, 2025SenateCommittee
    Second Reading referred to Revenue and Taxation
  2. Mar 27, 2025SenateIntroduced
    First Reading
  3. Mar 27, 2025House
    Engrossed, signed, to Senate
  4. Mar 26, 2025HouseCommittee
    Referred for engrossment
  5. Mar 26, 2025HouseFloor
    Third Reading, Measure passed: Ayes: 61 Nays: 33
  6. Mar 26, 2025House
    Amended by floor substitute
Show 10 earlier actions
  1. Mar 26, 2025House
    Coauthored by Representative(s) Archer
  2. Mar 26, 2025House
    General Order
  3. Mar 5, 2025House
    Authored by Senator Hines (principal Senate author)
  4. Mar 5, 2025HouseFloor
    CR; Do Pass, amended by committee substitute Government Oversight Committee
  5. Feb 17, 2025House
    Coauthored by Representative(s) Lepak, Manger
  6. Feb 17, 2025HouseFloor
    Policy recommendation to the Government Oversight committee; Do Pass, amended by committee substitute Banking, Financial Services and Pensions
  7. Feb 4, 2025HouseCommittee
    Referred to Banking, Financial Services and Pensions
  8. Feb 4, 2025HouseCommittee
    Second Reading referred to Government Oversight
  9. Feb 3, 2025House
    Authored by Representative Duel
  10. Feb 3, 2025HouseIntroduced
    First Reading

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

Lobbying Activity

No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.

Full breakdown

Who this bill affects and the strongest case for and against it, written only from the bill’s own text.

Sponsors

Mark LepakHouse · District 9RepublicanPrimary sponsor
Robert MangerHouse · District 101RepublicanCosponsor
Nick ArcherHouse · District 55RepublicanCosponsor

Discoveries

1 pattern noticed across the record

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift99% confidence

Mandatory Divestment from Foreign Adversaries

The legislation establishes a statutory framework forcing all state and local public funds, endowments, and pensions to systematically eliminate investments tied to designated foreign adversary countries.

State Treasurer

Connected Entities

Oklahoma Law Enforcement Retirement System, Oklahoma Police Pension and Retirement System, Oklahoma Public Employees Retirement System and 4 more
OrganizationOklahoma Law Enforcement Retirement System“Defined as a public pension system subject to the act's provisions and liability”Map →
OrganizationOklahoma Police Pension and Retirement System“Defined as a public pension system subject to the act's provisions and liability”Map →
OrganizationOklahoma Public Employees Retirement System“Defined as a public pension system subject to the act's provisions and liability”Map →
OrganizationOklahoma Firefighters Pension and Retirement System“Defined as a public pension system subject to the act's provisions and liability”Map →
OrganizationTeachers' Retirement System of Oklahoma“Defined as a public pension system subject to the act's provisions and liability”Map →
OrganizationState Treasurer“Develops a notification system to identify foreign adversaries and Countries of ”Map →
OrganizationUniform Retirement System for Justices and Judges“Defined as a public pension system subject to the act's provisions and liability”Map →

Sources

Open source document

www.oklegislature.gov

Analysis Score

0–100
  • Significance20
    Lowered because this bill did not pass (its text scored 75)
  • Controversy65
    Intensity of disagreement among stakeholders
  • Entertainment10
    Compellingness for a non-policy-wonk reader
  • Buzz45
    Current news / social attention level

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