Tenn. Code Ann. § 9-4-1401: Part definitions

As used in this part: (1) "Environmental, social, and governance interests" means interests that are not financial; (2) "Financial": (A) Means, with regard to a factor or reason, having been prudently determined to have a material effect on the financial risk or the financial return of an investment for a program based on the appropriate investment horizon consistent with the program's articulated funding and investment objectives for the exclusive benefit of the purposes of the program; (B) Includes, but is not limited to, data-based economic decisions and forecasting based on financial trends or themes; and (C) Does not include environmental, social, and governance interests that may not be material to the financial analysis of the investment; and (3) "Program" means any of the following which are established by law and for which the state treasurer has, or has been delegated, investment authority, oversight, and responsibility: (A) A trust fund; (B) An endowment fund; (C) Deferred or tax-sheltered compensation plan or plans, including profit sharing or salary reduction plans, established pursuant to title 8, chapter 25, parts 1, 2, and 3; (D) Programs under the Tennessee College Savings Trust Act, compiled in title 49, chapter 7, part 8; and (E) Programs under The Achieving a Better Life Experience (ABLE) Act, compiled in title 71, chapter 4, part 8. Added by 2023 Tenn. Acts, ch. 471, s 1, eff. 5/17/2023.

As used in this part:

(1) "Environmental, social, and governance interests" means interests that are not financial;

(2) "Financial": (A) Means, with regard to a factor or reason, having been prudently determined to have a material effect on the financial risk or the financial return of an investment for a program based on the appropriate investment horizon consistent with the program's articulated funding and investment objectives for the exclusive benefit of the purposes of the program; (B) Includes, but is not limited to, data-based economic decisions and forecasting based on financial trends or themes; and (C) Does not include environmental, social, and governance interests that may not be material to the financial analysis of the investment; and

(A) Means, with regard to a factor or reason, having been prudently determined to have a material effect on the financial risk or the financial return of an investment for a program based on the appropriate investment horizon consistent with the program's articulated funding and investment objectives for the exclusive benefit of the purposes of the program;

(B) Includes, but is not limited to, data-based economic decisions and forecasting based on financial trends or themes; and

(C) Does not include environmental, social, and governance interests that may not be material to the financial analysis of the investment; and

(3) "Program" means any of the following which are established by law and for which the state treasurer has, or has been delegated, investment authority, oversight, and responsibility: (A) A trust fund; (B) An endowment fund; (C) Deferred or tax-sheltered compensation plan or plans, including profit sharing or salary reduction plans, established pursuant to title 8, chapter 25, parts 1, 2, and 3; (D) Programs under the Tennessee College Savings Trust Act, compiled in title 49, chapter 7, part 8; and (E) Programs under The Achieving a Better Life Experience (ABLE) Act, compiled in title 71, chapter 4, part 8.

(A) A trust fund;

(B) An endowment fund;

(C) Deferred or tax-sheltered compensation plan or plans, including profit sharing or salary reduction plans, established pursuant to title 8, chapter 25, parts 1, 2, and 3;

(D) Programs under the Tennessee College Savings Trust Act, compiled in title 49, chapter 7, part 8; and

(E) Programs under The Achieving a Better Life Experience (ABLE) Act, compiled in title 71, chapter 4, part 8.