| March 30, 2026
The Honorable Robert Stivers President, Kentucky Senate 702 Capital Ave Frankfort, KY 40601 The Honorable David W. Osborne Re: Request to Schedule and Hold a Veto Override Vote on SB 183 The case for an override vote is straightforward. SB 183 passed with overwhelming support at every meaningful stage of the process. The Senate passed the bill 32-6 on February 10, 2026. The House then passed it, with House Committee Substitute 1, by a commanding 81-6 vote on March 13, 2026. The Senate then concurred in the House substitute and passed the bill again, 31-6, on March 17, 2026. Governor Beshear vetoed the measure on March 27, 2026. Those are not close votes. They are decisive margins that show clear, durable legislative support for the bill in its final form. SB 183 matters because it is a straightforward shareholder-protection and transparency measure. Proxy advisory firms wield enormous influence over corporate governance decisions, yet too often operate with little accountability to the shareholders whose interests they claim to serve. SB 183 would require those firms to disclose when they are not acting solely in shareholders’ interests, or when they provide materially different advice on the same proposal. It would also make failures to provide those disclosures actionable under Kentucky law. That is a reasonable reform. Kentucky has every right to insist that powerful outside actors who influence investment and governance decisions do so openly, honestly, and transparently. That is also why the legislature should press the issue. This is not a marginal bill, and this is not a close question. The General Assembly has already spoken loudly. Allowing the veto to stand without an override vote would mean letting overwhelming recorded support simply dissipate. When a bill has cleared both chambers by margins like these, leadership should give members the opportunity to finish the job. The numbers make the likely outcome clear. Under Kentucky’s Constitution, a vetoed bill becomes law if it is repassed by a majority of all members elected to each chamber. In practical terms, that means 20 votes in the Senate and 51 votes in the House. SB 183 received 31 Senate votes and 81 House votes in its final form. Those totals are well above the constitutional threshold. On the existing record, an override vote is not a gamble. It is a highly achievable next step. There is also ample precedent for it. During Governor Beshear’s tenure, the General Assembly has repeatedly exercised its veto-override authority. An override vote on SB 183 would not be unusual or extraordinary. It would be fully consistent with the legislature’s established practice of standing by measures that have earned strong support in both chambers. For all of these reasons, I respectfully urge you to place SB 183 on the calendar for veto override consideration at the earliest opportunity and allow both chambers to reaffirm the clear will of the General Assembly. Thank you for your consideration and your leadership. Sincerely, Cameron Sholty Executive Director Heartland Impact |
A Request to Schedule and Hold a Veto Override Vote on SB 183
By
