00                            SENATE BILL NO. 221                                                                         
01 "An Act restricting a fiduciary of a state fund, the Alaska Retirement Management                                       
02 Board, and the Alaska Permanent Fund Corporation Board from investing or doing                                          
03 business with DigitalBridge Group, Inc., or an affiliate of DigitalBridge Group, Inc."                                  
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1. AS 37.10.071 is amended by adding a new subsection to read:                                           
06            (g)  The fiduciary of a state fund may not invest state funds with or do business                            
07       in its fiduciary capacity with DigitalBridge Group, Inc., or an affiliate of DigitalBridge                        
08       Group, Inc.                                                                                                       
09    * Sec. 2. AS 37.10.220 is amended by adding a new subsection to read:                                              
10            (d)  The board may not invest state funds or do business with DigitalBridge                                  
11       Group, Inc., or an affiliate of DigitalBridge Group, Inc.                                                         
12    * Sec. 3. AS 37.10.430(c) is amended to read:                                                                      
13            (c)  A special subaccount is established in the budget reserve fund (art. IX, sec.                           
14       17, Constitution of the State of Alaska). Money in the subaccount shall be invested to                            

01 yield higher returns than might be feasible to obtain with other money in the budget                                    
02 reserve fund. In establishing or modifying the investment policy for the subaccount in                                  
03 the constitutional budget reserve fund, the commissioner of revenue shall assume that                                   
04 those funds will not be needed for at least five years. The commissioner of revenue                                 
05 may not invest money in the subaccount with DigitalBridge Group, Inc., or an                                        
06 affiliate of DigitalBridge Group, Inc. Income earned on money in the subaccount                                     
07       shall be retained in the subaccount by the department.                                                            
08    * Sec. 4. AS 37.13.120 is amended by adding a new subsection to read:                                              
09 (f)  The board may not invest state funds or do business with DigitalBridge                                             
10       Group, Inc., or an affiliate of DigitalBridge Group, Inc.