Prohibits investment by State of pension and annuity funds in companies engaging in government contracts or business operations infringing on data privacy of individuals for purpose of determining immigration status.

This bill prohibits New Jersey's public pension and annuity funds from investing in companies that collect or manipulate personal data for immigration status verification without a warrant or court order. It directly affects the state's $100+ billion pension funds (covering public employees) and companies providing immigration-related surveillance services. The law requires the State Investment Council to hire a privacy expert to identify such companies and divest all related investments by January 1, 2028, while following fiduciary standards. Annual reports must track divestment progress and identify remaining prohibited holdings.