Prohibiting the Board of Regents of the University of Wisconsin System from investing University of Wisconsin System trust funds in certain companies associated with the government of China. (FE)

This bill prohibits the Board of Regents, directly or through a financial manager, SWIB, or private investment firm, from investing UW System trust funds in securities of any company 1) that is directly controlled by the Communist Party of China or other governmental unit or instrumentality of China (government of China) or in which the government of China maintains a majority ownership interest; or 2) that contracts with, or provides goods, services, or credit directly to, the government of China. If the Board of Regents maintains a prohibited investment on the effective date of the bill, the Board of Regents must divest itself of the investment within approximately one year. In determining whether an investment is prohibited, the Board of Regents may rely on information about a company available from a third-party screening service that utilizes criteria reasonably similar to the criteria described in 1) and 2), above. The bill also requires the Board of Regents to include, in an annual report that under current law the Board of Regents submits to the legislature and the governor, information relating to the Board of Regents' efforts to satisfy the requirements under the bill, including identification of companies in which investment is prohibited and, as applicable, the status of divestment from these companies.