“require or ask an insurer to reduce or track greenhouse gas emissions, including the greenhouse gas emissions of the insurer's insureds or of the entities in which the insurer invests”
The caption pitches a ban on political proposals, but the definition also covers a plain request to track emissions, even with no limit on whom the insurer covers. The bill writes its own definition of political, so the reach is visible but wider than the word suggests.
A proposal to “ask an insurer to reduce or track” emissions can’t reach a vote.
The bill bars insurance companies and insurance holding companies organized in Texas from putting certain shareholder proposals on their proxy ballots or carrying them out. It targets proposals that would limit insuring fossil fuel businesses, limit insuring any lawful business for environmental, social or political reasons, or ask the insurer to cut or track greenhouse gas emissions. Starting September 1, 2025, shareholders of Texas-chartered insurers could no longer get those proposals onto a vote, and the company could not adopt them.
Labels
Labels: ZOMBIE BILL. Died 2 times: 88R SB 1060 (Did not pass) and this bill (Died in committee). Checked against 88R only.BACK FROM THE DEAD. Same text as a bill filed before that died: 88R SB 1060 (Did not pass). Filed in 2 sessions, counting this one. Checked against 88R only.TRY NO. 2. Filed in 2 sessions: 88R and 89R. Checked against 88R only.GOT HALFWAY. Passed the Senate on May 8, 2025. Died in the House: failed to receive a favorable vote in the State Affairs committee on May 15, 2025.
relating to the adoption of political shareholder proposals by
insurers and insurer holding companies.
WHAT IT DOES
A proposal to “ask an insurer to reduce or track” emissions can’t reach a vote.
The bill bars insurance companies and insurance holding companies organized in Texas from putting certain shareholder proposals on their proxy ballots or carrying them out. It targets proposals that would limit insuring fossil fuel businesses, limit insuring any lawful business for environmental, social or political reasons, or ask the insurer to cut or track greenhouse gas emissions. Starting September 1, 2025, shareholders of Texas-chartered insurers could no longer get those proposals onto a vote, and the company could not adopt them.
“require or ask an insurer to reduce or track greenhouse gas emissions, including the greenhouse gas emissions of the insurer's insureds or of the entities in which the insurer invests”
The caption pitches a ban on political proposals, but the definition also covers a plain request to track emissions, even with no limit on whom the insurer covers. The bill writes its own definition of political, so the reach is visible but wider than the word suggests.
TOTAL
No significant fiscal implication to the State is anticipated.
Senator Hughes moved to suspend the regular order of business to take up for consideration SB 945 at this time on its third reading and final passage: SB 945, Relating to the adoption of political shareholder proposals by insurers and insurer holding companies. The motion prevailed by the following vote: Yeas 20, Nays 10, Present-not voting 1.
Published stock of positions for this vote, except where marked derived.
Yea: 20 (published)
Nay: 10 (published)
Present, not voting: 1 (published)
Absent: 0 (derived from named list)
Excused: 0 (derived from named list)
Senate journal. Source snapshot 2026-10-19, Central time.
The bill was read second time and was passed to engrossment by the following vote: Yeas 20, Nays 10, Present-not voting 1. (Same as previous roll call)
Published stock of positions for this vote, except where marked derived.
Yea: 20 (published)
Nay: 10 (published)
Present, not voting: 1 (published)
Absent: 0 (derived from named list)
Excused: 0 (derived from named list)
Senate journal. Source snapshot 2026-10-19, Central time.
Senator Hughes moved to suspend the regular order of business to take up for consideration SB 945 at this time on its second reading: SB 945, Relating to the adoption of political shareholder proposals by insurers and insurer holding companies. The motion prevailed by the following vote: Yeas 20, Nays 10, Present-not voting 1.
Published stock of positions for this vote, except where marked derived.
Yea: 20 (published)
Nay: 10 (published)
Present, not voting: 1 (published)
Absent: 0 (derived from named list)
Excused: 0 (derived from named list)
Senate journal. Source snapshot 2026-10-19, Central time.
Witnesses10
For
4
Against
6
On
0
Names
For
Consumers’ Research1 registration
Heartland Impact1 registration
Self; American Energy Institute1 registration
Self; American energy works1 registration
Against
Climate Cabinet1 registration
Freedom to Invest1 registration
Self2 registrations
Texas AFT1 registration
Texas Civil Rights Project1 registration
Sources
10 parsed registrations across the loaded witness lists.
Derived stock of witness registrations. Repeated appearances count separately. Organizations and self-representation appear as printed.
House committee · State Affairs · Final status: Died in committee
Senate committee · State Affairs · Committee vote 9 aye, 1 nay, 1 absent · Out of committee
Subjects
Insurance--Insurers & Agents
Text
The text as introduced · 235 words
89R2043 CJD-D
By: Hughes
S.B. No. 945
A BILL TO BE ENTITLED
AN ACT
relating to the adoption of political shareholder proposals by
insurers and insurer holding companies.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subtitle A, Title 6, Insurance Code, is amended
by adding Chapter 806 to read as follows:
CHAPTER 806. CONSIDERATION OF ENVIRONMENTAL, SOCIAL, OR POLITICAL
FACTORS
Sec. 806.001. DEFINITIONS. In this chapter:
(1) "Holding company" and "insurer" have the meanings
assigned by Section 823.002.
(2) "Political shareholder proposal" means a
shareholder proposal that seeks to directly or indirectly:
(A) prohibit or limit an insurer's ability to
insure risks related to the exploration, production, utilization,
transportation, sale, or manufacturing of fossil fuel-based energy
solely because the risks are related to fossil fuel-based energy;
(B) require or ask an insurer to reduce or track
greenhouse gas emissions, including the greenhouse gas emissions of
the insurer's insureds or of the entities in which the insurer
invests; or
(C) prohibit or limit an insurer's ability to
insure an entity involved in legal activity for the purpose of
achieving environmental, social, or political ends.
Sec. 806.002. POLITICAL SHAREHOLDER PROPOSALS PROHIBITED.
An insurer or holding company organized under the laws of this state
may not:
(1) include a political shareholder proposal in a
proxy statement; or
(2) implement a political shareholder proposal.
SECTION 2. This Act takes effect September 1, 2025.
Monitoring 
