Kentucky 2026 Regular Session Status: Enacted 3 R cosponsors

SB 183 — AN ACT relating to the regulation of proxy advisory services.

Last action — delivered to Secretary of State (Acts Ch. 10)

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 29, 2026. Enacted.

Signed by Governor Andy Beshear (Democratic) on March 31, 2026.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 76% · moderate confidence

  • Enacted

    Current position in the legislative process.

  • 3 sponsors

    3 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (3 R).

  • Cleared a recorded vote

    Passed 5 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

Create new sections of KRS Chapter 367 to define terms; require proxy advisors to notify and disclose certain information to shareholders in a company doing business in Kentucky and to the company that is subject to the proxy advisory service when the proxy advisor is not acting solely in the interest of shareholders, as defined, or is providing materially different advice to shareholders regarding a proxy proposal or company proposal; declare that failure to notify or disclose required information is an unfair, false, misleading, or deceptive trade practice in violation of KRS 367.170; establish remedies including civil actions; apply to proxy advisory services provided on or after the effective date of the Act.

Bill Text

What changed in the latest version

132 added · 176 removed

Plain-language change summary

The amendments to Bill SB 183 mainly formalize definitions and requirements related to the regulation of proxy advisory services. Specifically, they establish the term "economic analysis" and outline what it must include, such as the proposal's subject, opposition from the company's board, and the potential economic impacts. This change is significant because it ensures that shareholders receive comprehensive and transparent information when considering proposals, which can lead to more informed voting decisions. By enhancing disclosure requirements, the bill aims to protect investors and promote accountability in corporate governance.

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Latest
UNOFFICIAL COPY 26 RS SB 183/VO AN ACT relating to the regulation of proxy advisory services.
CHAPTER 10 1 CHAPTER 10 ( SB 183 ) AN ACT relating to the regulation of proxy advisory services.
(d) The economic benefits and costs of implementing the shareholder- sponsored proposal, as written, in the long and short term;
(d) The economic benefits and costs of implementing the shareholder-sponsored proposal, as written, in the long and short term;
and (f) An explanation of the modeling, procedures, and processes used to complete Page 1 of 6 SB018390.100 - 1094 - XXXX 3/31/2026 3:59 PM Vetoed and Overridden UNOFFICIAL COPY 26 RS SB 183/VO the economic analysis;
and (f) An explanation of the modeling, procedures, and processes used to complete the economic analysis;
and (b) Does not include an "investment advisor" under the federal Investment Advisers Act of 1940, 15 U.S.C.
and Legislative Research Commission PDF Version ACTS OF THE GENERAL ASSEMBLY (b) Does not include an "investment advisor" under the federal Investment Advisers Act of 1940, 15 U.S.C.
Page 2 of 6 SB018390.100 - 1094 - XXXX 3/31/2026 3:59 PM Vetoed and Overridden UNOFFICIAL COPY 26 RS SB 183/VO (a) Advice or recommendations on how to vote on a shareholder-sponsored proposal or company proposal;
(a) Advice or recommendations on how to vote on a shareholder-sponsored proposal or company proposal;
(b) Involves providing a voting recommendation with respect to a shareholder- sponsored proposal that:
(b) Involves providing a voting recommendation with respect to a shareholder-sponsored proposal that:
Is inconsistent with the voting recommendation of the company's board of directors or a board committee composed of a majority of the Page 3 of 6 SB018390.100 - 1094 - XXXX 3/31/2026 3:59 PM Vetoed and Overridden UNOFFICIAL COPY 26 RS SB 183/VO company's independent directors;
Is inconsistent with the voting recommendation of the company's board of directors or a board committee composed of a majority of the company's independent directors;
(3) If the proxy advisor provides materially different advice to different clients who have not expressly requested proxy advisory services for a nonpecuniary interest, Page 4 of 6 SB018390.100 - 1094 - XXXX 3/31/2026 3:59 PM Vetoed and Overridden UNOFFICIAL COPY 26 RS SB 183/VO the advisor shall:
(3) If the proxy advisor provides materially different advice to different clients who have not expressly requested proxy advisory services for a nonpecuniary interest, the advisor shall:
and (b) Notify, in writing or by electronic means, each shareholder or entity or other person acting on behalf of a shareholder receiving the proxy advisory service, the company that is subject to the materially different advice provided by the proxy advisory service, and the Attorney General, of the materially different advice and disclose the advice or recommendation that is:
and CHAPTER 10 3 (b) Notify, in writing or by electronic means, each shareholder or entity or other person acting on behalf of a shareholder receiving the proxy advisory service, the company that is subject to the materially different advice provided by the proxy advisory service, and the Attorney General, of the materially different advice and disclose the advice or recommendation that is:
(b) All of the remedies, powers, and duties provided to the Attorney General Page 5 of 6 SB018390.100 - 1094 - XXXX 3/31/2026 3:59 PM Vetoed and Overridden UNOFFICIAL COPY 26 RS SB 183/VO under KRS 367.110 to 367.300, and the penalties provided in KRS 367.990, pertaining to acts and practices declared unlawful by KRS 367.170, shall apply with equal force and effect to a violation of Section 1 or 2 of this Act.
(b) All of the remedies, powers, and duties provided to the Attorney General under KRS 367.110 to 367.300, and the penalties provided in KRS 367.990, pertaining to acts and practices declared unlawful by KRS 367.170, shall apply with equal force and effect to a violation of Section 1 or 2 of this Act.
Page 6 of 6 SB018390.100 - 1094 - XXXX 3/31/2026 3:59 PM Vetoed and Overridden
Veto Overridden March 31, 2026.
Legislative Research Commission PDF Version
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Action History

  1. delivered to Secretary of State (Acts Ch. 10)

  2. enrolled, signed by Speaker of the House

  3. enrolled, signed by President of the Senate

  4. passed 76-15

  5. veto overridden

  6. posted for consideration of Governor's veto

  7. taken from Rules

  8. to Rules (H)

  9. received in House

  10. passed 31-6

  11. veto overridden

  12. posted for passage for consideration of Governor's veto

  13. to Rules (S)

  14. received in Senate

  15. Vetoed

  16. delivered to Governor

  17. enrolled, signed by Speaker of the House

  18. enrolled, signed by President of the Senate

  19. passed 31-6

  20. Senate concurred in House Committee Substitute (1)

  21. posted for passage for concurrence in House Committee Substitute

  22. taken from Rules

  23. to Rules (S)

  24. received in Senate

  25. 3rd reading, passed 81-6 with Committee Substitute (1)

  26. posted for passage in the Regular Orders of the Day for Friday, March 13 2026

  27. 2nd reading, to Rules

  28. reported favorably, 1st reading, to Calendar with Committee Substitute (1)

  29. to Banking & Insurance (H)

  30. to Committee on Committees (H)

  31. received in House

  32. 3rd reading, passed 32-6

  33. posted for passage in the Regular Orders of the Day for Tuesday, February 10 2026

  34. 2nd reading, to Rules

  35. reported favorably, 1st reading, to Calendar

  36. to Economic Development, Tourism, & Labor (S)

  37. to Committee on Committees (S)

  38. introduced in Senate

Sponsors

Sponsorship breakdown

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3 sponsors · 0 co-sponsors · 135 not signed on · 21 voted No

Sponsors (3)

Co-sponsors (0)

None.

Not signed on (135)

135 members have not signed on to this bill.

Show all 135 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

OVERRIDE VETO FINAL PASSAGE SB 183

Passed 31 Yea · 6 Nay · 1 Other
Party YeaNayPresentNot Voting
Republican 31101
Democrat 0500
Total 31601
% of votes cast 82%16%0%3%
How each member voted (38)
Member Party Vote
Cassie Chambers Armstrong Democrat Nay
Gary Clemons Democrat Nay
Gerald A. Neal Democrat Nay
Karen Berg Democrat Nay
Keturah J. Herron Democrat Nay
Aaron Reed Republican Yea
Amanda Mays Bledsoe Republican Yea
Brandon J. Storm Republican Yea
Christian McDaniel Republican Not Voting
Craig Richardson Republican Yea
Danny Carroll Republican Yea
David P. Givens Republican Yea
Donald Douglas Republican Yea
Gary Boswell Republican Yea
Greg Elkins Republican Yea
Jared Carpenter Republican Yea
Jason Howell Republican Yea
Jason Nemes Republican Yea
Jimmy Higdon Republican Yea
Julie Raque Adams Republican Yea
Lindsey Tichenor Republican Yea
Matt Nunn Republican Yea
Matthew Deneen Republican Yea
Max Wise Republican Yea
Michael Meredith Republican Yea
Nick Wilson Republican Yea
Phillip Wheeler Republican Yea
Rick Girdler Republican Yea
Robby Mills Republican Yea
Robert Stivers Republican Yea
Robin L. Webb Republican Yea
Scott Madon Republican Yea
Shelley Funke Frommeyer Republican Yea
Stephen West Republican Yea
Steve Rawlings Republican Yea
Tom Smith Republican Yea
Wade Williams Republican Yea
Walker Thomas Republican Nay

Official roll call →

Final Passage

Passed 76 Yea · 15 Nay · 9 Other
Party YeaNayPresentNot Voting
Republican 75004
Unaffiliated 1000
Democrat 01505
Total 761509
% of votes cast 76%15%0%9%
How each member voted (100)
Member Party Vote
Lewis C — Yea
Adam Moore Democrat Not Voting
Adrielle Camuel Democrat Nay
Al Gentry Democrat Not Voting
Anne Gay Donworth Democrat Nay
Ashley Tackett Laferty Democrat Nay
Beverly Chester-Burton Democrat Nay
Chad Aull Democrat Not Voting
Daniel Grossberg Democrat Nay
Erika Hancock Democrat Nay
George Brown Jr. Democrat Nay
Joshua Watkins Democrat Not Voting
Lindsey Burke Democrat Nay
Lisa Willner Democrat Nay
Mary Lou Marzian Democrat Nay
Matthew Lehman Democrat Nay
Nima Kulkarni Democrat Nay
Pamela Stevenson Democrat Nay
Rachel Roarx Democrat Nay
Sarah Stalker Democrat Nay
Tina Bojanowski Democrat Not Voting
Aaron Thompson Republican Yea
Adam Bowling Republican Yea
Amy Neighbors Republican Yea
Bill Wesley Republican Yea
Bobby McCool Republican Yea
Candy Massaroni Republican Yea
Chris Freeland Republican Yea
Chris Fugate Republican Yea
DJ Johnson Republican Yea
Daniel Elliott Republican Not Voting
Daniel Fister Republican Yea
David Hale Republican Yea
David Meade Republican Yea
David W. Osborne Republican Yea
Deanna Gordon Republican Yea
Derek Lewis Republican Yea
Emily Callaway Republican Yea
Felicia Rabourn Republican Yea
J.T. Payne Republican Yea
James Tipton Republican Yea
Jared Bauman Republican Yea
Jason Nemes Republican Yea
Jason Petrie Republican Yea
Jennifer Decker Republican Yea
Jim Gooch Jr. Republican Yea
John Blanton Republican Yea
John Hodgson Republican Yea
Josh Branscum Republican Yea
Josh Bray Republican Yea
Josh Calloway Republican Yea
Ken Fleming Republican Yea
Ken Upchurch Republican Yea
Kevin Jackson Republican Yea
Kim Banta Republican Yea
Kim Holloway Republican Yea
Kim King Republican Yea
Kimberly Poore Moser Republican Yea
Marianne Proctor Republican Yea
Mark Hart Republican Yea
Mary Beth Imes Republican Yea
Matt Lockett Republican Yea
Matthew Koch Republican Yea
Michael Meredith Republican Yea
Michael Sarge Pollock Republican Yea
Mike Clines Republican Yea
Mitch Whitaker Republican Yea
Myron Dossett Republican Yea
Nancy Tate Republican Yea
Nick Wilson Republican Yea
Patrick Flannery Republican Yea
Peyton Griffee Republican Yea
Randy Bridges Republican Yea
Rebecca Raymer Republican Yea
Richard White Republican Yea
Robert Duvall Republican Yea
Ryan Bivens Republican Yea
Ryan Dotson Republican Yea
Samara Heavrin Republican Yea
Savannah Maddox Republican Yea
Scott Lewis Republican Yea
Scott Sharp Republican Yea
Shane Baker Republican Yea
Shawn McPherson Republican Yea
Stephanie Dietz Republican Yea
Steve Bratcher Republican Yea
Steve Riley Republican Yea
Steven Doan Republican Yea
Steven Rudy Republican Yea
Susan Witten Republican Yea
Suzanne Miles Republican Yea
T.J. Roberts Republican Yea
Thomas Huff Republican Yea
Timmy Truett Republican Not Voting
Tom Smith Republican Yea
Tony Hampton Republican Yea
Vanessa Grossl Republican Yea
Wade Williams Republican Not Voting
Walker Thomas Republican Yea
William Lawrence Republican Not Voting

Official roll call →

FINAL PASSAGE OF SB 183 w/ HCS 1

Passed 31 Yea · 6 Nay · 1 Other
Party YeaNayPresentNot Voting
Republican 31101
Democrat 0500
Total 31601
% of votes cast 82%16%0%3%
How each member voted (38)
Member Party Vote
Cassie Chambers Armstrong Democrat Nay
Gary Clemons Democrat Nay
Gerald A. Neal Democrat Nay
Karen Berg Democrat Nay
Keturah J. Herron Democrat Nay
Aaron Reed Republican Yea
Amanda Mays Bledsoe Republican Yea
Brandon J. Storm Republican Yea
Christian McDaniel Republican Yea
Craig Richardson Republican Yea
Danny Carroll Republican Yea
David P. Givens Republican Yea
Donald Douglas Republican Yea
Gary Boswell Republican Yea
Greg Elkins Republican Yea
Jared Carpenter Republican Yea
Jason Howell Republican Yea
Jason Nemes Republican Yea
Jimmy Higdon Republican Yea
Julie Raque Adams Republican Yea
Lindsey Tichenor Republican Yea
Matt Nunn Republican Yea
Matthew Deneen Republican Yea
Max Wise Republican Yea
Michael Meredith Republican Not Voting
Nick Wilson Republican Yea
Phillip Wheeler Republican Yea
Rick Girdler Republican Yea
Robby Mills Republican Yea
Robert Stivers Republican Yea
Robin L. Webb Republican Yea
Scott Madon Republican Yea
Shelley Funke Frommeyer Republican Yea
Stephen West Republican Yea
Steve Rawlings Republican Yea
Tom Smith Republican Yea
Wade Williams Republican Yea
Walker Thomas Republican Nay

Official roll call →

Pass

Passed 81 Yea · 6 Nay · 13 Other
Party YeaNayPresentNot Voting
Democrat 11603
Republican 690010
Unaffiliated 1001
Total 816014
% of votes cast 80%6%0%14%
How each member voted (101)
Member Party Vote
Lewis C — Yea
COMMONWEALTH OF KENTUCKY SENATE — Not Voting
Adam Moore Democrat Yea
Adrielle Camuel Democrat Not Voting
Al Gentry Democrat Yea
Anne Gay Donworth Democrat Nay
Ashley Tackett Laferty Democrat Yea
Beverly Chester-Burton Democrat Yea
Chad Aull Democrat Yea
Daniel Grossberg Democrat Yea
Erika Hancock Democrat Yea
George Brown Jr. Democrat Yea
Joshua Watkins Democrat Yea
Lindsey Burke Democrat Not Voting
Lisa Willner Democrat Not Voting
Mary Lou Marzian Democrat Nay
Matthew Lehman Democrat Nay
Nima Kulkarni Democrat Yea
Pamela Stevenson Democrat Nay
Rachel Roarx Democrat Nay
Sarah Stalker Democrat Nay
Tina Bojanowski Democrat Yea
Aaron Thompson Republican Yea
Adam Bowling Republican Yea
Amy Neighbors Republican Yea
Bill Wesley Republican Not Voting
Bobby McCool Republican Yea
Candy Massaroni Republican Yea
Chris Freeland Republican Yea
Chris Fugate Republican Yea
DJ Johnson Republican Yea
Daniel Elliott Republican Not Voting
Daniel Fister Republican Yea
David Hale Republican Yea
David Meade Republican Yea
David W. Osborne Republican Yea
Deanna Gordon Republican Yea
Derek Lewis Republican Yea
Emily Callaway Republican Not Voting
Felicia Rabourn Republican Not Voting
J.T. Payne Republican Yea
James Tipton Republican Yea
Jared Bauman Republican Yea
Jason Nemes Republican Yea
Jason Petrie Republican Yea
Jennifer Decker Republican Not Voting
Jim Gooch Jr. Republican Yea
John Blanton Republican Yea
John Hodgson Republican Yea
Josh Branscum Republican Yea
Josh Bray Republican Yea
Josh Calloway Republican Not Voting
Ken Fleming Republican Yea
Ken Upchurch Republican Yea
Kevin Jackson Republican Not Voting
Kim Banta Republican Yea
Kim Holloway Republican Yea
Kim King Republican Yea
Kimberly Poore Moser Republican Yea
Marianne Proctor Republican Yea
Mark Hart Republican Not Voting
Mary Beth Imes Republican Yea
Matt Lockett Republican Yea
Matthew Koch Republican Yea
Michael Meredith Republican Yea
Michael Sarge Pollock Republican Yea
Mike Clines Republican Yea
Mitch Whitaker Republican Yea
Myron Dossett Republican Yea
Nancy Tate Republican Yea
Nick Wilson Republican Yea
Patrick Flannery Republican Yea
Peyton Griffee Republican Yea
Randy Bridges Republican Yea
Rebecca Raymer Republican Yea
Richard White Republican Yea
Robert Duvall Republican Yea
Ryan Bivens Republican Yea
Ryan Dotson Republican Yea
Samara Heavrin Republican Yea
Savannah Maddox Republican Yea
Scott Lewis Republican Yea
Scott Sharp Republican Yea
Shane Baker Republican Yea
Shawn McPherson Republican Yea
Stephanie Dietz Republican Yea
Steve Bratcher Republican Yea
Steve Riley Republican Yea
Steven Doan Republican Yea
Steven Rudy Republican Yea
Susan Witten Republican Yea
Suzanne Miles Republican Yea
T.J. Roberts Republican Yea
Thomas Huff Republican Yea
Timmy Truett Republican Not Voting
Tom Smith Republican Yea
Tony Hampton Republican Yea
Vanessa Grossl Republican Yea
Wade Williams Republican Yea
Walker Thomas Republican Yea
William Lawrence Republican Not Voting

Official roll call →

PASS SB 183

Passed 32 Yea · 6 Nay
Party YeaNayPresentNot Voting
Republican 32100
Democrat 0500
Total 32600
% of votes cast 84%16%0%0%
How each member voted (38)
Member Party Vote
Cassie Chambers Armstrong Democrat Nay
Gary Clemons Democrat Nay
Gerald A. Neal Democrat Nay
Karen Berg Democrat Nay
Keturah J. Herron Democrat Nay
Aaron Reed Republican Yea
Amanda Mays Bledsoe Republican Yea
Brandon J. Storm Republican Yea
Christian McDaniel Republican Yea
Craig Richardson Republican Yea
Danny Carroll Republican Yea
David P. Givens Republican Yea
Donald Douglas Republican Yea
Gary Boswell Republican Yea
Greg Elkins Republican Yea
Jared Carpenter Republican Yea
Jason Howell Republican Yea
Jason Nemes Republican Yea
Jimmy Higdon Republican Yea
Julie Raque Adams Republican Yea
Lindsey Tichenor Republican Yea
Matt Nunn Republican Yea
Matthew Deneen Republican Yea
Max Wise Republican Yea
Michael Meredith Republican Yea
Nick Wilson Republican Yea
Phillip Wheeler Republican Yea
Rick Girdler Republican Yea
Robby Mills Republican Yea
Robert Stivers Republican Yea
Robin L. Webb Republican Yea
Scott Madon Republican Yea
Shelley Funke Frommeyer Republican Yea
Stephen West Republican Yea
Steve Rawlings Republican Yea
Tom Smith Republican Yea
Wade Williams Republican Yea
Walker Thomas Republican Nay

Official roll call →

Subjects

finance civil-rights
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Frequently asked questions

What does SB 183 do?
Create new sections of KRS Chapter 367 to define terms; require proxy advisors to notify and disclose certain information to shareholders in a company doing business in Kentucky and to the company that is subject to the proxy advisory service when the proxy advisor is not acting solely in the interest of shareholders, as defined, or is providing materially different advice to shareholders regarding a proxy proposal or company proposal; declare that failure to notify or disclose required information is an unfair, false, misleading, or deceptive trade practice in violation of KRS 367.170; establish remedies including civil actions; apply to proxy advisory services provided on or after the effective date of the Act.
Who sponsors SB 183?
SB 183 is sponsored by Steve Rawlings (Republican), Robby Mills (Republican), and Matt Nunn (Republican).
What is the current status of SB 183?
This bill has been enacted into law. Introduced January 29, 2026. Enacted.
Where can I track SB 183?
Track SB 183 free on One Click Politics — get push/email alerts when it moves.

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