S-3085

   Amend Senate File 507, as passed by the Senate, as follows:
   1.  Page 2, line 17, after <profit.> by inserting <However, “company” does not mean a sole proprietorship or a company with less than ten full-time employees.>
   2.  Page 3, line 31, after <companies> by inserting <on behalf of a public entity on or after July 1, 2023>
   3.  Page 5, after line 15 by inserting: 
   <3.  This section does not apply to a public fund acting on behalf of a participant directing investments in a retirement account in which the participant has the authority to make such a decision independently from the public fund.>
   4.  By striking page 5, line 33, through page 6, line 2, and inserting: 
   <1.  A public entity shall not enter into a contract of fifty thousand dollars or more with a scrutinized company included on a scrutinized company list created by a public fund pursuant to section 12K.3 for services including but not limited to the investment or management of securities in which any public funds are invested.
   2.  This section shall not apply if the public entity determines that the requirements of this section would otherwise be inconsistent with the public entity’s constitutional or statutory duties or would prevent the public entity from obtaining the supplies or services to be provided in an economically practicable manner.>