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AZ SB1503
Bill
Status
Engrossed
3/10/2026
Primary Sponsor
David Gowan
Click for details
AI Summary
- Requires public pension plans to obtain written acknowledgment from proxy advisory firms that they will vote shares solely in the economic interest of plan participants and beneficiaries before entering into service agreements
- Defines "sole economic interest" as maximizing risk-adjusted investment returns over a time period consistent with the plan's risk management profile
- Applies to any plan, fund, or program established by a public entity that provides retirement income or benefits, or results in deferred income extending to employment termination
- Creates new Chapter 6.1 in Title 38 of Arizona Revised Statutes covering fiduciary duties and proxy voting for public pension benefit plans
Legislative Description
Public pensions; proxy voting
Definitions
Last Action
Assigned to House RULES Committee
3/16/2026
Committee Referrals
Rules3/16/2026
Ways and Means3/10/2026
Rules1/29/2026
Finance1/29/2026
Full Bill Text
No bill text available