SB1057

Signed by Governor
Authored by Tan Parker (R)
View at Source

Caption: Relating to shareholder proposals submitted to certain domestic corporations.
Initially Referred to Senate Business & Commerce Committee, chaired by a Republican
Last Referred to House Trade, Workforce & Economic Development Committee, chaired by a Republican
SB 1057 establishes new shareholder proposal requirements for certain Texas-based corporations listed on national securities exchanges. It applies only to corporations that opt into its provisions by amending their governing documents. Shareholders or groups of shareholders seeking to submit a proposal for a shareholder vote must hold at least the lesser of $1,000,000 in market value of the corporation's securities or 3% of the corporation's voting shares for at least six months. They must also solicit support from shareholders representing at least 67% of the voting power. The bill exempts director nominations and procedural resolutions from these requirements, restricting the ability of smaller shareholders to introduce proposals for consideration.

Co-authors: Blanco (D)
Sponsors: Meyer (R)

Feb 3, 2025


(S) Parker signed onto the bill as Author
(S) Received by the Secretary of the Senate
(S) Filed
 

Feb 24, 2025


(S) Read first time
(S) Referred to the Senate Business & Commerce, chaired by a Republican
 

Mar 18, 2025


(S) Scheduled for public hearing on . . .
(S) Considered in public hearing
(S) Testimony taken in committee
(S) Left pending in committee
 

Mar 27, 2025


(S) Considered in public hearing
(S) Vote taken in committee
 

Mar 31, 2025


(S) Reported favorably as substituted
(S) Recommended for local & uncontested calendar
(S) Committee report printed and distributed
 

Apr 1, 2025


(S) Blanco signed onto the bill as Coauthor
(S) Co-author authorized
 

Apr 8, 2025


(S) Placed on intent calendar
 

Apr 10, 2025


(S) Rules suspended-Regular order of business
(S) Record vote

20250410_SB1057_2R: Yea 27 (R 19, D 8) - Nay 3 (R 0, D 3)

Yea - A. Hinojosa; Alvarado; Bettencourt; Birdwell; Blanco; Campbell; Creighton; Flores; Gutierrez; Hagenbuch; Hall; Hancock; Huffman; Hughes; J. Hinojosa; Johnson; Kolkhorst; Menendez; Middleton; Nichols; Parker; Paxton; Perry; Schwertner; Sparks; West; Zaffirini

Nay - Cook; Eckhardt; Miles

Absent - King

You can view which lawmakers have received money from a specific PAC
by selecting the PAC from the list below:


(S) Read 2nd time
(S) Amendment(s) offered

20250410_SB1057_FA1: Yea 30 (R 19, D 11) - Nay 0 (R 0, D 0)

Yea - A. Hinojosa; Alvarado; Bettencourt; Birdwell; Blanco; Campbell; Cook; Creighton; Eckhardt; Flores; Gutierrez; Hagenbuch; Hall; Hancock; Huffman; Hughes; J. Hinojosa; Johnson; Kolkhorst; Menendez; Middleton; Miles; Nichols; Parker; Paxton; Perry; Schwertner; Sparks; West; Zaffirini

Absent - King

You can view which lawmakers have received money from a specific PAC
by selecting the PAC from the list below:


(S) Amended
(S) Vote recorded in Journal
(S) Passed to engrossment as amended

20250410_SB1057_E: Yea 27 (R 19, D 8) - Nay 3 (R 0, D 3)

Yea - A. Hinojosa; Alvarado; Bettencourt; Birdwell; Blanco; Campbell; Creighton; Flores; Gutierrez; Hagenbuch; Hall; Hancock; Huffman; Hughes; J. Hinojosa; Johnson; Kolkhorst; Menendez; Middleton; Nichols; Parker; Paxton; Perry; Schwertner; Sparks; West; Zaffirini

Nay - Cook; Eckhardt; Miles

Absent - King

You can view which lawmakers have received money from a specific PAC
by selecting the PAC from the list below:


(S) Record vote
(S) Three day rule suspended
(S) Record vote
(S) Read 3rd time
(S) Passed

20250410_SB1057_3R: Yea 27 (R 19, D 8) - Nay 3 (R 0, D 3)

Yea - A. Hinojosa; Alvarado; Bettencourt; Birdwell; Blanco; Campbell; Creighton; Flores; Gutierrez; Hagenbuch; Hall; Hancock; Huffman; Hughes; J. Hinojosa; Johnson; Kolkhorst; Menendez; Middleton; Nichols; Parker; Paxton; Perry; Schwertner; Sparks; West; Zaffirini

Nay - Cook; Eckhardt; Miles

Absent - King

You can view which lawmakers have received money from a specific PAC
by selecting the PAC from the list below:


(S) Record vote
(S) Reported engrossed
 

Apr 14, 2025


(H) Received from the Senate
 

Apr 17, 2025


(H) Read first time
(H) Referred to the House Trade, Workforce & Economic Development, chaired by a Republican
 

Apr 30, 2025


(H) Considered in public hearing
(H) Reported favorably w/o amendment(s)
 

May 1, 2025


(H) Comte report filed with Committee Coordinator
(H) Committee report distributed
 

May 2, 2025


(H) Committee report sent to Calendars
 

May 5, 2025


(H) Laid out in lieu of companion
(H) Read 2nd time
(H) Passed to 3rd reading
 

May 6, 2025


(H) Read 3rd time
(H) Passed
(H) Record vote

RV#1480: Yea 140 (R 86, D 54) - Nay 5 (R 0, D 5)
View Source

Yea - Alders; Allen; Anchia; Ashby; Barry; Bell, C.; Bell, K.; Bernal; Bhojani; Bonnen; Bowers; Bryant; Buckley; Bucy; Bumgarner; Button; Cain; Campos; Canales; Capriglione; Cole; Collier; Cook; Cortez; Craddick; Cunningham; Curry; Darby; Davis, A.; Dean; DeAyala; Dorazio; Dutton; Dyson; Fairly; Flores; Frank; Gamez; Garcia Hernandez; Garcia, L.; Gates; Gerdes; Geren; Gervin-Hawkins; Gonzalez, J.; Gonzalez, M.; Guerra; Guillen; Harless; Harris; Harris Davila; Harrison; Hayes; Hefner; Hernandez; Hickland; Hinojosa; Holt; Hopper; Howard; Hull; Hunter; Isaac; Johnson; Jones, V.; Kerwin; King; Kitzman; LaHood; Lalani; Lambert; Landgraf; Leach; Leo Wilson; Little; Longoria; Lopez, R.; Louderback; Lowe; Lozano; Lujan; Luther; Manuel; Martinez; Martinez Fischer; McLaughlin; McQueeney; Metcalf; Meyer; Money; Moody; Morales, E.; Morales Shaw; Morgan; Munoz; Noble; Olcott; Oliverson; Ordaz; Orr; Patterson; Paul; Perez, M.; Perez, V.; Phelan; Pierson; Plesa; Raymond; Richardson; Romero; Rose; Rosenthal; Schatzline; Schofield; Schoolcraft; Shaheen; Shofner; Simmons; Slawson; Smithee; Spiller; Swanson; Talarico; Tepper; Thompson; Tinderholt; Toth; Troxclair; Turner; VanDeaver; Vasut; Villalobos; Virdell; Vo; Walle; Ward Johnson; Wharton; Wilson; Wu; Zwiener

Nay - Goodwin; Meza; Morales, C.; Reynolds; Rodriguez Ramos

Absent - Davis, Y.; Garcia, J.; Jones, J.

Present, Not Voting - Burrows

Please note: the following statements by legislators do not affect the vote count that was recorded.

Jessica Gonzalez: "When Record No. 1480 was taken, I was shown voting yes. I intended to vote no." (view other statements of vote for this Rep)

Josey Garcia: "When Record No. 1480 was taken, I was in the house but away from my desk. I would have voted yes." (view other statements of vote for this Rep)

You can view which lawmakers have received money from a specific PAC
by selecting the PAC from the list below:


(H) Statement(s) of vote recorded in Journal
(S) House passage reported
(S) Reported enrolled
 

May 7, 2025


(S) Signed in the Senate
(H) Signed in the House
(E) Sent to the Governor
 

May 19, 2025


(E) Signed by the Governor
(E) Effective on 9/1/25
 


(S) Meyer signed onto the bill as Sponsor

Lobbying Against/For/On This Bill

For

(Tue 3/18/2025) Testifying before S Business & Commerce as Bill Lauderback for Texas Stock Exchange
(Tue 3/18/2025) Registering before S Business & Commerce as Daniel Hodge for Texas Stock Exchange



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