All Roll Calls
Yes: 132 • No: 9
TennesseeHB 0805114th General Assembly (2025-2026)House
AN ACT to amend Tennessee Code Annotated, Title 9, Chapter 4, Part 15, relative to investments.
Sponsored By: Sponsor information unavailable
Signed by Governor
Pensions and Retirement Benefits
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Civil claims limited over pension divestment
Tennessee and local governments, including their officers and employees, have civil-liability immunity for actions or failures to act under these divestment rules. The state retirement system, its board members, local pension plans, and their governing bodies also receive this protection. This limits civil recourse for people bringing claims over that conduct. The protection applies only to conduct under the divestment section.
Tennessee pension plans must sell China-owned holdings
The law requires Tennessee’s state retirement system and local government defined-benefit pension plans to review directly held public securities. Reviews are due January 15, 2026, and every January 15 afterward, covering holdings from the prior December 31. Plans must end investments in companies known to be more than 50% owned by China’s government, Communist Party, military, or their agencies. These requirements cover direct holdings, not investments held through pooled funds. The state treasurer must handle state-system divestment and report it to the system’s investment committee. Local pension boards must follow their investment policies. If prompt divestment is not possible, boards must send written plans to the council on pensions chair by July 1. Divestment is due December 31, unless a board sets a later date to meet its duty to protect pension funds. Plans must follow state investment and prudent-investor standards. The state retirement board can delegate its duties to the treasurer, who can classify investments when the investment policy does not.
Sponsors & Cosponsors
Sponsors
There is no primary sponsor on record.
Cosponsors
Rush Bricken
Republican • House
Burkhart
Affiliation unavailable
Ed Butler
Republican • House
Michele Carringer
Republican • House
Rick Eldridge
Republican • House
T.J. Hardaway
Democrat • House
David B. Hawk
Republican • House
Dan Howell
Republican • House
Tom Leatherwood
Republican • House
Aron Maberry
Republican • House
Brock Martin
Republican • House
Jake McCalmon
Republican • House
Powers
Affiliation unavailable
Jay D. Reedy
Republican • House
Tim Rudd
Republican • House
Greg Vital
Republican • House
Roll Call Votes
Senate vote • 4/9/2025
FLOOR VOTE: Third Consideration 4/9/2025
Yes: 25 • No: 1
House vote • 3/24/2025
FLOOR VOTE: REGULAR CALENDAR PASSAGE ON THIRD CONSIDERATION 3/24/2025
Yes: 86 • No: 6
House vote • 3/24/2025
HOUSE CALENDAR & RULES COMMITTEE
Yes: 0 • No: 0
House vote • 3/5/2025
HOUSE STATE & LOCAL GOVERNMENT COMMITTEE
Yes: 17 • No: 1
House vote • 2/26/2025
HOUSE PUBLIC SERVICE SUBCOMMITTEE
Yes: 4 • No: 1
Actions Timeline
Effective date(s) 04/24/2025
4/28/2025Pub. Ch. 289
4/28/2025Signed by Governor.
4/24/2025Transmitted to Governor for his action.
4/16/2025HouseSigned by Senate Speaker
4/15/2025SenateSigned by H. Speaker
4/14/2025HouseEnrolled; ready for sig. of H. Speaker.
4/9/2025HousePassed Senate, Ayes 25, Nays 1, PNV 1
4/9/2025SenateSenate substituted House Bill for companion Senate Bill.
4/9/2025SenateReceived from House, Passed on First Consideration
3/26/2025SenateEngrossed; ready for transmission to Sen.
3/25/2025HousePassed H., Ayes 86, Nays 6, PNV 1
3/24/2025HouseSponsor(s) Added.
3/24/2025HouseH. Placed on Regular Calendar for 3/24/2025
3/20/2025HousePlaced on cal. Calendar & Rules Committee for 3/20/2025
3/19/2025HouseRec. for pass; ref to Calendar & Rules Committee
3/5/2025HouseSponsor(s) Added.
3/5/2025HouseSponsor(s) Added.
3/4/2025HousePlaced on cal. State & Local Government Committee for 3/5/2025
2/26/2025HouseRec. for pass by s/c ref. to State & Local Government Committee
2/26/2025HouseSponsor(s) Added.
2/25/2025HousePlaced on s/c cal Public Service Subcommittee for 2/26/2025
2/20/2025HouseMeeting Canceled
2/19/2025HouseSponsor(s) Added.
2/14/2025HousePlaced on s/c cal Public Service Subcommittee for 2/19/2025
2/12/2025House
Bill Text
Enrolled / Public Chapter
Fiscal Note
Introduced
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