AB 269

This bill prohibits, with exceptions, the State of Wisconsin Investment Board

from investing in securities of any company that manufactures or imports firearms,

ammunition, or firearms accessories (firearms company). Within 30 days after the

effective date of the bill, SWIB must make its best efforts to identify firearms

companies and make a list of these companies. SWIB must update this list at least

quarterly. For each company included on this list, SWIB must send a written notice

to the company informing the company that SWIB is prohibited from investing in the

company and of the reason for this prohibition. After 30 days following the effective

date of the bill, SWIB may not make any new investment in securities of any

company included on the list. If at this time SWIB already maintains investments

in companies included on the list, SWIB must divest itself of these investments

within approximately six months. If SWIB later updates its list and adds a company

in which SWIB already maintains an investment, SWIB must divest itself of the

investment within six months after the company is added to the list. However, these

investment prohibitions do not apply to investments made by external managers

with whom SWIB has contracted, investments in mutual funds and other

commingled instruments, and investments in private equity funds. The bill also

requires SWIB to include, in an annual report that under current law SWIB submits

to the legislature, SWIB's most recent list and other information relating to SWIB's

divestment from firearms companies.