wa-law.org > bill > 2025-26 > SB 6109 > Original Bill
Beginning on the effective date of this section, the state investment board will not make new investments in any entity that owns, operates, leases, or invests in a private detention facility.
By January 1, 2030, the state investment board must ensure that moneys in funds managed by the board are not invested in any entity that owns, operates, leases, or invests in a private detention facility, or any fund containing an entity that owns, operates, leases, or invests in a private detention facility.
To the greatest extent practicable, divestment and reinvestment of moneys in funds managed by the state investment board under this section must be accomplished without monetary loss to the funds through reasonable, prudent, and productive investments in companies generating returns that are comparable to the returns generated by the companies subject to divestment.
For the purposes of this section:
"Detention facility" means any facility in which persons are incarcerated or otherwise involuntarily confined for purposes including prior to trial or sentencing, fulfilling the terms of a sentence imposed by a court, or for other judicial or administrative processes or proceedings.
"Entity" has the same meaning as in RCW 23.95.105.
"Private detention facility" means a detention facility that is operated by a private, nongovernmental for-profit entity and operating pursuant to a contract or agreement with a federal, state, or local governmental entity.