TX HB3776

Public retirement systems that hold shares with proxy voting rights must report all proxy votes made by proxy advisors to the State Pension Review Board within 180 days after the fiscal year ends

Reports must include vote captions, the system's vote, company recommendations, and proxy advisor recommendations for each vote cast

Investment managers granted proxy voting authority must submit annual reports tabulating all proxy votes cast on behalf of retirement systems, which systems must then forward to the State Pension Review Board

Investment managers managing less than $50 million of a retirement system's assets are exempt from the reporting requirement

The State Pension Review Board must post all submitted proxy voting reports on its public website and may adopt rules to implement these requirements

Requirements apply only to contracts entered into on or after September 1, 2025