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Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

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SB221 • 2026

RESTRICTING STATE FUND FIDUCIARY

An Act restricting a fiduciary of a state fund, the Alaska Retirement Management Board, and the Alaska Permanent Fund Corporation Board from investing or doing business with DigitalBridge Group, Inc., or an affiliate of DigitalBridge Group, Inc.

Budget Taxes
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
SENATORS STEDMAN, Gray-Jackson, Giessel
Last action
2026-04-30
Official status
(S) FIN
Effective date
Not listed

Plain English Breakdown

The effective date is missing from the provided metadata, so it cannot be confirmed when this law begins.

SB221: Restricting State Investments in DigitalBridge

This law stops specific Alaska state groups from investing money with or doing business with DigitalBridge Group and its related companies.

What This Bill Does

  • Prohibits fiduciaries of state funds from investing in or working with DigitalBridge Group, Inc. or its affiliates.
  • Bans the Alaska Retirement Management Board from making investments with or conducting business involving DigitalBridge Group.
  • Prevents the Alaska Permanent Fund Corporation Board from investing state money with DigitalBridge Group or related companies.
  • Stops the commissioner of revenue from placing funds in a special budget reserve subaccount with DigitalBridge Group.

Who It Names or Affects

  • Fiduciaries managing state funds
  • The Alaska Retirement Management Board
  • The Alaska Permanent Fund Corporation Board
  • DigitalBridge Group, Inc. and its affiliates

Limits and Unknowns

  • The official text does not list an effective date for this law.
  • The source material does not explain the reasons why DigitalBridge Group was selected for these restrictions.

Bill History

  1. 2026-04-30 Min

    (S) Minutes (SFIN)

  2. 2026-04-30 Text

    (S) -- Invited & Public Testimony -- -- Please Note Time Change --

  3. 2026-04-30 Text

    (S) FINANCE at 01:30 PM SENATE FINANCE 532

  4. 2026-01-23 1521

    (S) COSPONSOR(S): GRAY-JACKSON, GIESSEL

  5. 2026-01-21 1489

    (S) REFERRED TO FINANCE

  6. 2026-01-21 1489

    (S) FIN

  7. 2026-01-21 1489

    (S) READ THE FIRST TIME - REFERRALS

Official Summary Text

RESTRICTING STATE FUND FIDUCIARY
An Act restricting a fiduciary of a state fund, the Alaska Retirement Management Board, and the Alaska Permanent Fund Corporation Board from investing or doing business with DigitalBridge Group, Inc., or an affiliate of DigitalBridge Group, Inc.

Current Bill Text

Read the full stored bill text 
SB0221A -1- SB 221
New Text Underlined [DELETED TEXT BRACKETED]

34-LS1159\A

SENATE BILL NO. 221

IN THE LEGISLATURE OF THE STATE OF ALASKA

THIRTY-FOURTH LEGISLATURE - SECOND SESSION

BY SENATORS STEDMAN, Gray-Jackson, Giessel

Introduced: 1/21/26
Referred: Finance

A BILL

FOR AN ACT ENTITLED

"An Act restricting a fiduciary of a state fund, the Alaska Retirement Management 1
Board, and the Alaska Permanent Fund Corporation Board from investing or doing 2
business with DigitalBridge Group, Inc., or an affiliate of DigitalBridge Group, Inc." 3
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 4
* Section 1. AS 37.10.071 is amended by adding a new subsection to read: 5
(g) The fiduciary of a state fund may not invest state funds with or do business 6
in its fiduciary capacity with DigitalBridge Group, Inc., or an affiliate of DigitalBridge 7
Group, Inc. 8
* Sec. 2. AS 37.10.220 is amended by adding a new subsection to read: 9
(d) The board may not invest state funds or do business with DigitalBridge 10
Group, Inc., or an affiliate of DigitalBridge Group, Inc. 11
* Sec. 3. AS 37.10.430(c) is amended to read: 12
(c) A special subaccount is established in the budget reserve fund (art. IX, sec. 13
17, Constitution of the State of Alaska). Money in the subaccount shall be invested to 14
34-LS1159\A
SB 221 -2- SB0221A
New Text Underlined [DELETED TEXT BRACKETED]

yield higher returns than might be feasible to obtain with other money in the budget 1
reserve fund. In establishing or modifying the investment policy for the subaccount in 2
the constitutional budget reserve fund, the commissioner of revenue shall assume that 3
those funds will not be needed for at least five years. The commissioner of revenue 4
may not invest money in the subaccount with DigitalBridge Group, Inc., or an 5
affiliate of DigitalBridge Group, Inc. Income earned on money in the subaccount 6
shall be retained in the subaccount by the department. 7
* Sec. 4. AS 37.13.120 is amended by adding a new subsection to read: 8
(f) The board may not invest state funds or do business with DigitalBridge 9
Group, Inc., or an affiliate of DigitalBridge Group, Inc. 10