Prohibits State administered pension fund investment in corporations shifting ownership or operations outside U.S. for tax purposes.

This bill prohibits New Jersey's state-administered pension funds from investing in corporations that shift operations or ownership outside the U.S. to lower their effective tax rate by 20% or more within three years. It directly affects pension funds managing public employee retirement savings and corporations using tax-driven "inversions." The law requires the state to sell all violating investments within three years of enactment and mandates two reporting deadlines: a 60-day initial report listing current violations and annual reports until all such investments are divested. Key provisions define "shift in operations" as moving income sources abroad and "shift in ownership" as acquiring foreign assets to reduce U.S. tax liability.