TN HB0805

Requires the Tennessee Consolidated Retirement System and political subdivision pension plans to annually review direct holdings by January 15 (starting 2026) to identify investments in companies majority-owned by China, the Chinese Communist Party, or the Chinese military

Mandates divestment from identified restricted investments, with written divestment plans due to the Council on Pensions chair by July 1 if expeditious divestment is not possible, and completion required by December 31 of each year

Applies only to direct holdings (securities held directly by the pension system) rather than indirect holdings in commingled funds, mutual funds, or exchange-traded funds

Requires divestment plans to comply with fiduciary duties under the prudent investor rule and standard of care provisions

Grants civil liability immunity to the state, political subdivisions, retirement system board members, and pension plan governing bodies for actions taken under this law