The bill establishes new regulations for the Board of Trustees of pension benefit plans in Oklahoma regarding how they exercise shareholder votes on company proposals and proxy proposals. It mandates that these votes be based solely on "pecuniary factors," which are defined as factors that materially affect the financial risk or return on an investment, and emphasizes the goal of maximizing shareholder value. The Board is also required to retain the authority to exercise shareholder proxy rights and may engage with companies to express opposition to proposals that do not have a pecuniary impact.

Additionally, the bill requires the Board of Trustees to produce an annual report detailing all shareholder votes cast, including the vote caption, the Board's vote, and any recommendations from company management or proxy advisors. This report must be published on the Board's website by March 1 of the following year. The bill is set to take effect on November 1, 2026.