An unidentified House member urged opposition to H.R. 2988, the Protecting Prudent Investment of Retirement Savings Act, saying it would codify Trump-era limits on environmental, social and governance (ESG) considerations and undermine efforts to expand asset-management opportunities for women- and minority-owned firms.

Council reviews annual investment policy exclusions for defense and oil sectors amid public input.

Witnesses for and against HB 15-85 debated whether state retirement fiduciaries should be restricted to considering only financial factors and required to document proxy-voting analyses. Investor groups warned the bill would raise costs and constrain risk analysis; advocates for the bill said it would increase transparency and protect returns.