Prohibits investment by State of pension and annuity funds in Chinese pharmaceutical companies.

S 1365 prohibits New Jersey's state pension and annuity funds from investing in Chinese pharmaceutical companies or any companies with business ties to them (defined as entities with ≥51% Chinese ownership/control or joint ventures). The law requires the state to divest existing violating investments within three years and mandates annual reports to the legislature on progress. It also protects state officials from legal liability for implementing the divestment. This directly affects New Jersey's pension funds and their investment portfolios, limiting holdings in specified Chinese-linked pharmaceutical entities.