House Resolution No. by Representative Melerine urges each state retirement system in Louisiana to submit written reports detailing their proxy voting results for the previous calendar year. These reports are to be submitted to the House Committee on Retirement no later than sixty days before the start of the 2025 and 2026 Regular Legislative Sessions. The resolution highlights the increasing prevalence of politically motivated shareholder proposals, particularly those related to environmental and social issues, which may conflict with the fiduciary responsibilities of public company boards and could negatively impact the economic performance of the state’s investments.

The resolution expresses concern over the influence of unregulated proxy advisory firms, which often recommend votes that contradict the interests of public companies and their shareholders. By requiring transparency in the voting records of state retirement systems, the resolution aims to provide the legislature with the necessary information to address potential issues arising from proxy advisory firms that could harm Louisiana's retirement systems and its residents. Each report must include details on the voting recommendations received from proxy advisors and specify instances where the retirement system's votes aligned with those recommendations against the boards' suggestions.