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. 

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.