INPRS investments.
Summary
Requires the board of trustees of the Indiana public retirement system (board) to make investment decisions with the primary purpose of maximizing the target rate of return on the board's investments. Prohibits the board from making an investment decision with the purpose of influencing any social or environmental policy or attempting to influence the governance of any corporation for nonpecuniary purposes. Specifies an exception. Requires the board to adopt a policy that ensures proxy voting and engagement is based primarily on maximizing the target rate of return on the board's investments. Provides certain guidelines and reporting requirements for proxy voting in relation to the administration of the public pension and retirement funds of the system.
Bill status
passed
3 of 5 stages cleared
Introduction
Jan 2023
Committee Review
Jan 2023
Senate Passage
Feb 2023
House Passage
Governor
Introduced Jan 11, 2023
Last action Feb 28, 2023
Floor votes · Senate Feb 20, 2023
How they voted
38–7
Passed · 3 other
Total votes 48
Feb 20, 2023
D
Democratic10
70% Nay
R
Republican38
94% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
15
Key actions
3
Committee
1
Amendments
3
Feb 20, 2023
Upper · Passed
Third reading: passed; Roll Call 131: yeas 40, nays 7
upper
Feb 16, 2023
Amended
Amendment #1 (Pol) failed; Roll Call 122: yeas 9, nays 39
upper
Feb 16, 2023
Amended
Amendment #3 (Hunley) failed; voice vote
upper
Feb 16, 2023
Upper · Passed
Amendment #5 (Holdman) prevailed; voice vote
upper
Jan 26, 2023
Upper · Passed
Committee report: amend do pass, adopted
upper
4 primary · 2 co-sponsors
Sponsors
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