TX HB4807

Requires public retirement systems, investment managers, and proxy advisors to consider only financial factors when making investment decisions, prohibiting actions that further social, political, or ideological interests

Mandates that contracts with investment managers and proxy advisors include provisions requiring decisions based solely on financial factors and prohibiting non-financial considerations in investment and proxy voting activities

Requires public retirement systems to publicly post proxy voting intentions at least 24 hours before votes are cast and submit annual reports on proxy votes to the State Pension Review Board

Public retirement systems with over $100 million in assets must submit annual reports detailing investment relationships, including fund names, investment amounts, fees paid, and rates of return

Allows public retirement systems to seek injunctions against investment managers or proxy advisors who breach required contract provisions, with courts able to award attorney's fees to prevailing parties