FOREIGN ADVERSARIES – Adds to existing law to require certain governmental entities in Idaho to divest from investments in foreign adversaries.

Idaho's H 296 requires state pension funds, university endowments, and other public investment accounts (called "state-managed funds") to sell all holdings in companies tied to designated foreign adversaries like China, Russia, Iran, and North Korea by June 30, 2026. The bill prohibits new investments in such entities and mandates a state audit by January 2026 to identify restricted companies. It defines "foreign adversaries" using federal standards (15 CFR 791.4) and sets a 0.05% cap for any remaining holdings. This law directly affects public retirement systems, university investments, and state government funds managing public money.