Energy

SB 714 prohibits Oklahoma state retirement systems from using public funds to boycott energy companies (defined as actions penalizing fossil fuel companies without a financial reason) or divesting based on environmental, social, or political concerns. It transfers enforcement authority from the State Treasurer to the Attorney General and requires retirement systems to report any exemptions from the law. The bill shields state officials, employees, and contractors from lawsuits or financial liability when complying with its provisions, including claims of fiduciary duty breaches. It directly affects all Oklahoma state retirement systems and their investment decisions regarding energy companies.