Arkansas's law prohibits public entities from entering into a contract with a company unless the contract includes a written certification that the company is not engaged in a boycott of the fossil fuels, timber, mining, agriculture or firearms industries. The law would not apply to contracts valued at less than $75,000.

Arkansas's law would require the state to create a blacklist of all companies that "discriminate" against the fossil fuels, firearms and ammunition industries, or that takes into account any "environmental, social justice, or governance-related factors" in its investment decisions. The law would require state entities to divest from the blacklisted companies. 

Arkansas's 2017 anti-boycott law states that a public entity may not enter into a contract with a company unless the contract includes a written certification that the company is not currently engaged in a boycott of Israel and will not engage in a boycott of Israel for the duration of the contract. The clause does not apply if either: the company offers to provide the services for at least 20% less than each other qualified company or if the contract has a total potential value of less than $1,000. The law also creates a blacklist of companies engaged in a boycott of Israel, making blacklisted companies subject to divestment by the State Treasurer and the State's retirement systems.

Arkansas's law requires fiduciaries holding state pension funds to sign a written certification that they do not consider "environmental, social, corporate governance, or other similarly oriented factors" in investment decisions.

Arkansas's law would require the state to create a blacklist of all companies that "discriminate" against the fossil fuels, firearms and ammunition industries, or that take into account "environmental, social justice, or governance-related factors" in their investment decisions, including diversity and inclusion policies. The law would require state entities to divest from the blacklisted companies.