Public Funds and Financing - As enacted, revises law relative to pension plans and proxy advisors. - Amends TCA Title 9, Chapter 4.

HB 2476 requires local government retirement programs (including Tennessee Consolidated Retirement System and non-TCRS plans) to invest assets solely for financial reasons, excluding environmental, social, and governance (ESG) factors. It mandates that fiduciaries managing these funds conduct an economic analysis to demonstrate votes on shareholder proposals are financially motivated, and prohibits subordinating financial interests to ESG considerations. The bill affects all local retirement programs administering benefits for public employees, requiring them to prioritize financial returns for beneficiaries. Key provisions include annual disclosure of voting records and strict adherence to financial criteria in investment decisions, as defined in amended Tennessee Code § 9-4-1405.