; 15 U.S.C. 1011 et seq.) (commonly known as the McCarran-Ferguson Act ). (2) Policy of the United States Nothing in this section shall be construed to alter the established policy of the United States concerning final status issues associated with the Arab-Israeli conflict, including border delineation, that can only be resolved through direct negotiations between the parties. (3) Scope of nonpreemption Nothing in this section shall be construed as establishing a basis for preempting or implying preemption of State measures relating to boycott, divestment, or sanctions activity targeting Israel that are outside the scope of subsection (a). (h) Definitions In this section: (1) Assets (A) In general Except as provided in subparagraph (B), the term assets means any pension, retirement, annuity, or endowment fund, or similar instrument, that is controlled by a State or local government. (B) Exception The term assets does not include employee benefit plans covered by title I of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1001 et seq.). (2) Boycott, divestment, or sanctions activity targeting Israel The term boycott, divestment, or sanctions activity targeting Israel means any activity that is intended to penalize, inflict economic harm on, or otherwise limit commercial relations with Israel or persons doing business in Israel or in Israeli-controlled territories for purposes of coercing political action by, or imposing policy positions on, the Government of Israel. (3) Entity The term entity includes— (A) any corporation, company, business association, partnership, or trust; and (B) any governmental entity or instrumentality of a government, including a multilateral development institution (as defined in section 1701(c)(3) of the International Financial Institutions Act ( 22 U.S.C. 262r(c)(3) )). (4) Investment The term investment includes— (A) a commitment or contribution of funds or property; (B) a loan or other extension of credit