OR HB3250

Prohibits the Oregon Investment Council, State Treasurer, and investment managers from considering nonfinancial factors when directing or managing investments of the Public Employees Retirement Fund (PERS)

Defines "nonfinancial factor" as any factor not prudently determined to have a material effect on financial risk or financial return of an investment

Creates a rebuttable presumption that a fiduciary considered nonfinancial factors if they make policy commitments to further social, political, or ideological interests through company engagement, board votes, or shareholder votes after the bill's effective date

Policy commitments include advertising, statements, reports, communications with portfolio companies, or participation in coalitions, initiatives, or joint statements of principles

Requirements apply in addition to existing fiduciary duty provisions under ORS 293.721 and 293.726