Prohibits state contracts with companies that engage in economic boycotts based on environmental, social, or governance criteria

This bill prohibits state agencies and political subdivisions from entering into contracts with companies that engage in economic boycotts based on specific environmental, social, or governance criteria. The law defines an economic boycott as a commercial action taken without a standard business purpose to penalize or limit dealings with companies involved in fossil fuels, firearms, or those that fail to meet certain standards regarding emissions, workforce diversity, or access to reproductive and gender-affirming care. To comply, companies with ten or more employees seeking contracts valued at $50,000 or more must provide written verification that they are not currently engaging in such boycotts and will not do so during the contract term. The legislation allows for enforcement by the attorney general or county prosecutors and imposes a penalty of triple damages on any company that violates these requirements while under contract.