Transcript Highlights:

• looking at here is garage liability looking at here is garage liability insurance<00:16:01.959><
• Explain to us real quick, for those that don't know, what garage liability is.
• Explain to us real quick, for those that don't know, what garage liability is.
• Explain to us real quick, for those that don't know, what garage liability is.
• Explain to us real quick, for those that don't know, what garage liability is.

Keywords: Meeting Start: 00:00 Roll Call: 00:06 SB24 Discussion: 01:08 SB24 Vote: 13:22 SB18 Discussion: 14:40 SB18 Vote: 21:54, 958, all

Summary: The committee met with a quorum and first took up Senate Bill 24, a measure aimed at combating property and casualty insurance fraud. Senator Girdler and witnesses from the Insurance Institute of Kentucky and the National Insurance Crime Bureau said the bill would expand the definition of a fraudulent insurance act to cover statements that misrepresent the scope of property damage or repair costs, with the goal of addressing inflated storm-damage claims and out-of-state bad actors. Members discussed whether existing prosecutors were already handling these cases, the role of Commonwealth’s attorneys versus the Attorney General, and the need to keep the bill narrowly tailored to criminal intent rather than negligence or ordinary disputes over value. The committee substitute was adopted, the bill received favorable expression, and a title amendment was also adopted. The committee then heard Senate Bill 18, which would address a shortage of insurance options for automobile dealers by allowing nonadmitted carriers to provide garage liability coverage in Kentucky. Testimony from an insurance agent and a legislative agent for Big I Kentucky described a shrinking market in which some small dealers cannot find coverage at all, risking closure. Members asked about the meaning of garage liability, consumer protections, solvency concerns, and whether more competition could lower prices; witnesses said surplus lines carriers already operate in Kentucky, agents play an important vetting role, and errors-and-omissions coverage would apply to the agent. The bill was supported as a way to preserve dealer businesses and expand coverage options, and it passed the committee with favorable expression after roll call.

Transcript Highlights:

• ...Do we turn down the business because of the snow liability?
• The heart of this problem is the liability and who owns it.
• Contracts are being used to push liability onto folks that don't deserve it.
• You want to sign up for liability for all sorts of crazy stuff?
• You want to sign up for liability for all sorts of crazy stuff?

Keywords: 995, all

Summary: The Joint Committee on Labor and Workforce Development held a hybrid hearing on a large group of bills carried over from the previous session, with Chair Jake Oliveira and House Co-Chair Paul McMurtry outlining the process and limiting testimony to three minutes. The committee heard testimony on several labor and workplace proposals, including bills to harmonize employee definitions to address misclassification (SB 1338/HB 2141), expand bereavement leave (including H. 2189/S. 1354 and related bills), protect collective bargaining rights for certain administrative employees (HB 268/SB 1306), expand commuter transit benefits (HB 2153/SB 1345), regulate employer use of credit reports (S. 1286), and require apprenticeship participation or OSHA-related workplace safety measures on public projects. At the end of the hearing, the chairs read into the record additional bills that did not receive testimony that day. Supporters of the misclassification bill, including Greater Boston Legal Services and the AFL-CIO, said aligning the employee-status tests across wage, unemployment, and PFML laws would reduce confusion, improve enforcement, and help workers wrongly treated as independent contractors or managers recover benefits and bargaining rights. NAGE and its representative argued that public-sector employees have been improperly reclassified into management titles to weaken unions, and that the bill would force the Division of Labor Relations to review those titles. On bereavement leave, advocates including the Louis E. Brown Peace Institute, a state representative, the Massachusetts Office for Victim Assistance, and individual survivors described the impact of sudden loss and homicide on families, saying guaranteed leave would help workers grieve, make arrangements, and avoid losing jobs or custody-related stability. The committee also heard support for commuter benefits as a low-cost way to reduce emissions and increase transit use, and for restricting employer credit checks because of inaccuracies and discriminatory effects. There was opposition to some construction-related bills. The Associated Builders and Contractors and the Building Trades Employers Association supported apprenticeship training in principle but said current apprentice-to-journeyworker ratios are outdated or misunderstood, and that the bills should be amended or clarified before advancing. The Massachusetts landscape and snow-removal industry strongly supported a snow-liability limitation bill, arguing that hold-harmless clauses and broad indemnification requirements force contractors to assume liability for conditions they cannot control, drive up insurance costs, and threaten business viability. The committee did not take any votes during the hearing, and the session ended with the chairs thanking members, staff, and the public before adjourning.

Transcript Highlights:

• for those unfunded liabilities, developed by the actuary.
• for those unfunded liabilities developed by the actuary.
• Conducts a detailed asset-liability study where we have that process of marrying the liabilities and
• Tell us again, what is the current number for assets and liabilities?
• We also have huge unfunded liabilities; people aren't coming into government anymore.

Keywords: 959, house, all

Summary: The Joint Committee on Public Employee Retirement held a hearing focused on the Missouri State Employees’ Retirement System (MOSERS) and its long-term financial condition. MOSERS staff and its investment consultant reviewed the system’s structure, membership, funding policy, and investment approach. They reported a June 30, 2025 funded ratio of 55.4%, with about $17.4 billion in liabilities and $9.6 billion in assets, and explained that the board certified a 32% employer contribution rate under its minimum contribution policy, up from 30.25%, which will increase state appropriations. They also described the system as mature, with more retirees and inactive members than active employees, and said declining payroll growth has made it harder to improve funding. The presentation emphasized that recent board actions were intended to strengthen the plan over the long term, even though they increased near-term costs. Those changes included lowering the assumed investment return over time to 6.95%, updating mortality assumptions, moving from an open to a closed amortization schedule, and adopting a minimum employer contribution policy. The investment consultant said MOSERS historically used a more risk-balanced asset allocation than many peers, which helped explain weaker relative returns during a long period when public equities outperformed; the board has since shifted toward a more equity-oriented allocation. He said recent performance has improved, with the portfolio outperforming its policy index and ranking better against peers in the short term, though longer-term peer performance remains a concern. Committee members questioned why the funded ratio had declined over roughly 20 years and whether past investment and actuarial assumptions were too optimistic or too conservative. MOSERS officials responded that the current board is trying to correct earlier decisions and that the present strategy is more in line with industry practice. Members also discussed a proposed MOSERS bill package that would automatically refund small balances to terminated non-vested members and increase deferred compensation auto-escalation, with officials saying the refund provision would improve efficiency and return small balances sooner. The committee also briefly discussed ongoing litigation involving Catalyst Capital; MOSERS said attorney fees have been about $20 million so far, the case remains on appeal, and the damages amount is sealed. No formal votes were taken, and the committee adjourned after questions and discussion.

Transcript Highlights:

• It addresses the net pension liability under the PERS system.
• a liability of the state in total.
• a liability of the state in total.
• the totality of the unfunded liability. the totality of the unfunded liability.
• So when you liability attached to it.

Keywords: Finance - Room 216, 2 February, 2026; 3:00 PM, 925, all

Summary: The committee first heard a bill concerning tax increment financing (TIFs). The sponsor explained that the measure would not change the existing financing structure, but would add an optional arrangement cities could negotiate with developers: a revenue bond guaranteed by taxes generated from the development. The goal was to let developers guarantee the bond and access funds sooner on the front end of a project rather than waiting to see whether tax revenues meet projections. After no questions, the committee adopted a motion that the title was sufficient and reported the bill out do pass as a committee substitute. The next bill, Senate Bill 2873, came from the Department of Revenue and dealt with enforcement of the state’s vape registry law. The sponsor said the bill fills a gap left by prior legislation by creating a statutory forfeiture process for seized products valued at $20,000 or less, including notice, a right to contest, and rules for disposition of forfeited property. The committee then moved the bill title sufficient and do pass, and it was reported out. Senate Bill 2894 addressed local improvement projects funded in 2021 through 2024 that had not been executed or had unspent money remaining. The bill would require return of certain funds after a memorandum of understanding was not signed or after three years with unspent balances, require remittance of unspent interest, allow withholding of some city diversion or state aid road funds for noncompliance, and require periodic status reports to the Legislative Budget Office. The sponsor also offered an amendment giving entities 60 days from the bill’s effective date to request a one-time six-month extension; the amendment and the bill both received favorable votes and were reported out. Senate Bill 2910 would require employers in the PERS system to settle the books if a unit of government or other employer terminates participation. Senate Bill 2911 proposed a new return-to-work option for PERS retirees, shortening the separation period from 90 days to 30 days and allowing certain retirees to return to public employment at up to 80% of the stated salary, with employer-paid retirement contributions and possible health insurance support. The sponsor said the bill would exclude elected officials, K-12 superintendents, and IHL/community college administrators, and he discussed the bill’s expected effect on PERS funding with questions from members about actuarial impact and whether the proposal would affect existing retirement rules. Both bills were discussed but the transcript excerpt does not show final committee action on Senate Bill 2911.

Transcript Highlights:

• for those unfunded liabilities, developed by the actuary.
• for those unfunded liabilities developed by the actuary.
• Not only assets, but also liabilities.
• Tell me, tell us again, what is the current number for assets and liabilities?
• The actual accrued liability is roughly $17.4 billion.

Summary: The Joint Committee on Public Employee Retirement held a hearing focused on the Missouri State Employees’ Retirement System (MOSERS) and its long-term financial condition. MOSERS Executive Director Abby Spieler and investment consultant Tim McKinery outlined the system’s structure, membership, funding policy, and investment approach. They reported that as of the June 30, 2025 valuation, MOSERS had a 55.4% funded ratio, about $17.4 billion in liabilities, and about $9.6 billion in assets. They explained that the FY27 employer contribution rate was certified at 32% under the board’s minimum contribution policy, up from 30.25%, and said the increase is tied to a $46 million new decision item in House Bill 5. The presentation emphasized that MOSERS is a mature plan with more retirees and inactive members than active employees, and that slow or declining payroll growth has made it harder to pay down unfunded liabilities. MOSERS described recent policy changes intended to improve long-term stability, including lowering the investment return assumption over time, updating mortality assumptions, and adopting a minimum employer contribution policy. The board’s 2024 asset-liability study also led to a shift toward more public equity exposure and less fixed income, with the consultant saying asset allocation has been the main driver of relative investment underperformance versus peers in recent years, though recent returns have improved and the portfolio has outperformed its policy index over shorter periods. Committee members questioned why the funded ratio has fallen over time, whether past investment assumptions were too optimistic, and whether the board had been too conservative in its asset allocation. MOSERS representatives responded that the earlier strategy was a board-approved risk-balanced approach and that hindsight makes the results easier to judge, while stressing that current changes are intended to improve long-term outcomes. Members also asked about the impact of inactive members, the automatic refund proposal for small terminated accounts, and the ongoing Catalyst Capital litigation. MOSERS said the proposed legislation would automatically refund small inactive balances and auto-escalate deferred compensation contributions, and reported that litigation-related attorney fees have been about $20 million so far. No votes were taken, and the committee adjourned after questions and discussion.

Transcript Highlights:

• It's the state's single largest liability, 10.4 billion.
• That's how we doubled our unfunded liabilities in a decade.
• So that added to the liabilities of the plan.
• So, in 2010, we had $10.4 billion in Unfunded liabilities.
• So, still the state's single largest liability.

Keywords: 914, all

Transcript Highlights:

• limit, you know, the limitation on liability for those who reject from the fund.
• We've always held that liability caps are bad public policy.
• We've always held that liability caps are bad public policy.
• Liability caps are bad public policy, from our point of view.
• cutting off liability from yourself be cutting off liability from yourself too<00:40:58.800> and

Keywords: 910, house, all

Summary: The joint committees heard testimony on HB 982 HD1, a wildfire-related measure aimed at creating a wildfire recovery fund and a financing structure to address future catastrophic wildfire liability. The Department of Commerce and Consumer Affairs, the Division of Consumer Advocacy, and the Public Utilities Commission submitted comments and were available for questions. Supporters included IBW Local 1260, Kauai Island Utility Cooperative, Clearway Energy Group, Hawaiian Electric, Par Hawaii, and others, while Charter Communications and the Hawaii Association for Justice opposed or raised concerns. Life of the Land supported the bill but urged changes to the definition of a catastrophic wildfire and noted concerns about prudency review language. IBW Local 1260 asked to restore language from the original draft, and Charter warned the bill could impair existing contract and indemnity rights unless amended. A major focus of the hearing was Hawaiian Electric’s position on the HD1 version. Hawaiian Electric strongly supported the original bill but objected to the HD1 requirement for an additional $500 million shareholder contribution, arguing it was not feasible and could delay or prevent the fund from operating. The company said the bill would help protect customers and improve credit ratings by creating a dedicated revenue stream and a bankruptcy-remote financing structure, which it said would lower borrowing costs over time. Members questioned how the $1 billion securitization amount was chosen, whether credit rating agencies had indicated it was sufficient, and how the bill would work in bankruptcy; Hawaiian Electric said the amount was a balance among interests, not based on a specific agency directive, and that it would follow up on bankruptcy questions. Opponents and skeptics raised concerns about liability caps, the new claims process, and unclear language on damages above the fund’s limits. The Hawaii Association for Justice argued the bill limits victims’ remedies and gives too much authority to the new entity without clear guardrails. Committee members also pressed Hawaiian Electric on comparisons to California, the feasibility of the shareholder contribution, and whether alternative capital-raising or divestiture options had been considered. No vote or final action was taken in the portion of the hearing provided; testimony and questioning continued with follow-up information requested from Hawaiian Electric and others.

Transcript Highlights:

• And for a corporation to generate $5 million in tax liability, it would need at least $57 million in
• by at least 50%, with about 20 nearly zeroing out their tax liability entirely.
• Well, that question is actually very layered as far as, I mean, when you're calculating tax liability
• , corporate tax liability in California, there's a whole suite of rules.
• , and limited liability partnerships in their first year of existence.

Keywords: 987, senate, all

Transcript Highlights:

• There specifically states in the bill the end user doesn’t have that liability.
• He also raised a concern in the civil liability and product liability section, saying there seemed to
• be a conflict in how product liability was defined compared with civil liability.
• He also raised a concern in the civil liability and product liability section, saying there seemed to
• be a conflict in how product liability was defined compared with civil liability.

Keywords: 959, house, all

Transcript Highlights:

• We'll explore how this liability undermines the county's ability to respond to other challenges, such
• They charge a premium for liability coverage like we're talking about here.
• In the case of liability coverages, we don't have a common classification system.
• Are you concerned about future liabilities that are unidentified? Oh, absolutely.
• This bill and that legislation did not anticipate these types of liabilities.

Summary: The Assembly Budget Subcommittee on Accountability and Transparency held a hearing focused on three issues: federal funding cuts and delays, possible state revenue impacts from reduced IRS enforcement, and the fiscal effects of AB 218 on local governments. The Franchise Tax Board described how state and federal tax systems are closely linked, how most returns are filed electronically through software, and how FTB relies on IRS information sharing for compliance, fraud prevention, offsets, and nonfiler work. Members raised concerns that federal staffing cuts at the IRS could weaken audits of large corporations and reduce California revenue, and asked about VITA and ITIN filers; FTB said it was not aware of VITA reductions, noted ITIN returns are processed the same as other returns, and said ITIN filing appeared slightly down this year. The Department of Finance said it is monitoring federal developments, summarized the continuing resolution and reconciliation process, and noted that California lost nearly $940 million in earmarked federal projects under the CR, while major federal budget decisions remain uncertain until the President’s budget and later congressional action. The University of California reported substantial federal pressure on research, student aid, and health care. UC said hundreds of millions of dollars in federal awards have already been canceled, with additional threats to NIH and DOE facilities-and-administration rates, graduate fellowships, student loan repayment plans, international student visas, Pell Grants, and Medicaid/Medi-Cal funding. Committee members pressed UC on the effects of DEIA-related federal restrictions, the loss of clinical trials and research staff, and the impact on low-income students and patients. UC said it is pursuing litigation with the Attorney General and other institutions, but emphasized that court action is only a temporary solution and that sustained state and private support may be needed. The second panel addressed the fiscal consequences of AB 218, which extended the statute of limitations for childhood sexual abuse claims against public agencies. FCMAT presented a report with 22 recommendations, including better statewide data collection, financing mechanisms, a possible victims compensation fund, and prevention measures. Los Angeles County described a tentative $4 billion settlement tied to AB 218 claims, saying it will require reserves, borrowing, and long-term annual payments through 2050, while also forcing curtailments and cuts to vacant positions to preserve services. Members discussed insurance pools, retroactive premiums, unidentified future claims, and the need for a compensation fund or other financing tools. No formal votes were taken; the hearing concluded with public comment, including testimony from local health officials about nearly $400 million in terminated federal public health grants and the resulting layoffs and service impacts.

Transcript Highlights:

• The Senate amended the bill by expanding the requirement to maintain a commercial boat liability policy
• boat policy with a specified commercial charter boat liability endorsement instead of a commercial boat
• boat liability insurance policy as prescribed.
• The Senate amended the bill by expanding the requirement to maintain a commercial boat liability policy
• boat liability insurance policy as prescribed.

Summary: The committee heard concurrence and Senate-amendment explanations on a series of House measures. HCR 2001 would place a constitutional question before voters on election-related changes, including limiting voting to U.S. citizens, banning foreign national election contributions, requiring government-issued ID, and allowing ballot tabulation at the voting location; supporters described it as an election-security and faster-counting measure, while members noted possible county costs and the need for future appropriations if approved. HB 2305 on private towing was described as a statewide response to predatory towing, with Senate changes delaying local rate updates and creating a study/reporting framework for towing enforcement. HB 2321 would require DCS to place security freezes on children’s credit records, but the Senate removed the appropriation. HB 2397 revised HOA/condominium sale-notice procedures, and HB 2398 required insurance coverage for peer-to-peer or charter watercraft rentals while clarifying that ordinary boat ownership would not be mandated to carry insurance. The committee also reviewed HB 2406, which the Senate struck and replaced with confidentiality protections for records involving deceased minors and minor victims of child abuse; HB 2408, which revised nursing board complaint and expungement procedures, added complainant confidentiality protections, and required public posting of policy statements; and HB 2755, which was substantially rewritten to facilitate the sale of underperforming state trust lands by allowing certain lessees to apply to purchase parcels through an appraisal-and-auction process. Members discussed a specific Dairy Queen/state land parcel example as the practical impetus for HB 2755. HB 2957 would bar governments from requiring digital/mobile driver licenses for services and limit ADOT’s retention and use of identity documents and biometric data, with the sponsor emphasizing privacy and federal-law carveouts. Finally, HB 4005 would require AI instruction in schools, with the Senate expanding it from district-level instruction to grade-specific student requirements and directing ADE on curriculum development. Supporters framed AI literacy as essential for students’ future competitiveness and ethical use, while opponents objected to the mandate and questioned its fit for charter schools and core academics. The meeting ended after the committee moved through the bills and adjourned.

Transcript Highlights:

• Prior to 2011, the supplemental benefit liability was largely not pre-funded.
• in assets is available for every $1... ...offset the accrued liability.
• So how much in assets is available for every $1 of accrued liability.
• Lower benefits means lower liability.
• Strong markets produce higher assets and lower liabilities.

Keywords: 904, all

Transcript Highlights:

• were<01:15:17.199> trying<01:15:17.360> to<01:15:17.520> be<01:15:17.600> immunable
• <01:15:18.159> towards<01:15:18.960> uh were trying to be immunable towards uh were
• trying to be immunable towards uh premises<01:15:19.679> that<01:15:19.840> were<01:15

Bills: SF0044, SF0046

Keywords: gambling, lotteries, raffles, social relationships, charitable gaming, gaming, liquor establishments, skill based amusement games, regulations, age restrictions, 916, all

Transcript Highlights:

• that we released is an annual guideline direction that we give on respiratory virus season and immunizations
• that we released is an annual guideline direction that we give on respiratory virus season and immunizations
• Providers start asking, or excuse me, families start calling and asking when I can get my immunizations

Keywords: 1189, house, all

Summary: The committee first adopted the September 5 minutes and then approved the remaining consent calendar items after removing several bills for separate consideration, including 25-252, 25-248, 25-251, and 25-253. The committee then took up 25-252 from the Department of Natural and Cultural Resources, where members asked about the arts tax credit program, staffing, and volunteer coordination. Department representatives said the program had recently been authorized, forms had been finalized, three of six laid-off staff had been rehired through a federal grant, and the agency was now trying to recruit participants. Members also discussed whether tax-credit-raised funds could count as federal match; the department said they could not, because federal rules require state dollars. The item was adopted. The committee next considered 25-248 from the Department of Safety, which was described as a technical correction moving funds from equipment to hardware and software after consultation with the Department of Administrative Services. A member asked about “buy American” waivers, and the department said it would follow up with more information. The item was adopted. The committee then approved 25-251 from the Department of Administrative Services, which included discussion of ongoing problems with Anthem’s retiree health plan mail-order pharmacy. Department staff said many issues were tied to implementation changes and prescription renewal rules, that some complaints were being resolved through the vendor and the retiree health office, and that the contract would be rebid in the coming year, likely causing further changes. On 25-253 from the Department of Health and Human Services, members questioned the department’s September 5 health alert and whether it diverged from CDC guidance. DHHS said the alert was an annual evidence-based guideline for respiratory virus season and immunizations, largely aligned with CDC recommendations, and that some differences reflected timing and population-specific guidance. The item was adopted. The committee then heard 25-237 from the Department of Justice on the annual litigation fund request. Attorney General John Formela said the request was about $4.3 million, roughly 40% below last year and below the five-year average, with major costs tied to YDC civil and criminal litigation and some DHHS class actions. A member criticized the large increase over the budgeted $350,000 and said the budgeting approach should be corrected in the next cycle. Another member asked about YDC settlement reductions; the attorney general said confidentiality limited specifics, but explained that under the new statute the office had accepted well over half of administrator awards, rejected some, and negotiated lower amounts in others while still resolving most cases. The item remained under discussion at the end of the excerpt.

Transcript Highlights:

• Liability, and you talked about property tax liability.
• Who has property tax liability?
• I can claim a child tax credit which buys down my liability. My tax liability brings it to zero.
• Amazon has no income tax liability.
• You didn't have to have income tax liability or direct property tax liability in order to get one of

Transcript Highlights:

• address the constitutional connections, purportedly content-agnostic or content-neutral bills are not immune
• address the constitutional connections, purportedly content-agnostic or contact-neutral bills are not immune

Keywords: 995, all

Summary: The committee held its second hearing on a large docket of technology, internet, cybersecurity, broadband, and media bills. Early testimony focused on community media funding legislation, with lawmakers and local access advocates arguing that as cable subscriptions decline and streaming grows, revenue tied to cable franchises no longer supports community television and PEG programming. Supporters said community media remains a key source of local news, government meeting coverage, and civic transparency as newspapers disappear or consolidate. A related bill on cable contract oversight also drew support, with testimony that the Department of Telecommunications and Cable is backlogged and should more actively review municipal-provider agreements and report its workload to the committee. Another major topic was a proposal to create a Massachusetts Innovation Fund for state IT modernization. The Alliance for Digital Innovation backed the bill, saying agencies need flexible upfront capital to replace outdated systems and improve cybersecurity, and pointing to the federal Technology Modernization Fund as a model. The witness noted that funding for the state program still needs to be identified. The committee also heard strong support for a bill requiring free broadband in public housing, with Rep. Emmela Goodwin and MAPC describing internet access as essential for jobs, school, telehealth, and civic participation. They said the digital divide in Massachusetts is driven largely by affordability rather than infrastructure, though questions were raised about costs, wiring, and whether all housing sites already have broadband access available at the curb. A substantial portion of the hearing centered on bills to limit addictive social media feeds for minors. Supporters, including lawmakers, parents, teens, and advocacy groups, argued that algorithmic feeds contribute to addiction, anxiety, body image problems, and other harms, and said the bills would restrict surveillance-based curation and overnight notifications while leaving search and followed accounts available. Opponents, including FIRE, CCIA, and the Taxpayers Protection Alliance, argued the bills would require invasive age verification, threaten privacy and cybersecurity, burden adults’ anonymity, and likely face First Amendment challenges. They also warned the measures could disadvantage smaller businesses and may be unconstitutional based on recent court rulings in other states. The committee also heard support for blockchain-related bills creating a commission, a pilot program, and consumer education efforts, with testimony that Massachusetts has the talent but needs a coordinated state strategy. No votes or final actions were taken during the hearing.

Transcript Highlights:

• We had about $14 billion in unfunded liability.
• Don't expect the pension plan to be a- able to generate that liability in its investment returns.
• Our unfunded liability is sitting just over $60 billion.
• However, we are in a position to pay that liability off over the next 28 years.
• In terms of paying off that unfunded liability.

Keywords: 1184, house, all

Transcript Highlights:

• Madam President and Senator, I get to thinking sometimes about our civil liability or liability insurance
• I get to thinking sometimes about our civil liability or liability insurance, and I know the secretary
• you have, and your insurance broker will tell you the liability you should probably cover.
• But the state does not accept liability when they sign contracts.
• They put the liability upon the vendor.

Keywords: 996, all

Transcript Highlights:

• That's correct, Madam Chair, that this additional liability...
• <03:23:41.960> of acred liability of acred liability of 11.1<03:23:44.199> you<03:23
• un the unfunded acred liability un the unfunded acred liability by by by group<04:33:25.840>
• <04:33:54.480> for have always measured the liability for have always measured the liability
• will impact the unfunded ACR liability will impact the unfunded ACR liability without<05:15:18.200

Keywords: 928, house, all

Summary: The committee first took up House Bill 622, but after the sponsor said further research raised concerns, he asked that the bill be tabled. The committee then moved in executive session and voted unanimously to find the bill inexpedient to legislate, sending it to consent. The committee also retained House Bill 349, the ophthalmologic laser bill, after members said more time was needed for the professions involved to work out training standards and provide additional information; that motion also passed unanimously. The committee then discussed House Bill 244, a municipal building/fire code recodification measure. Members said the bill needed more review and careful scrutiny because of its length and possible unintended effects, and they voted unanimously to retain it as well. House Bill 534 was then heard; the sponsor said the bill did not do what was intended because of a misunderstanding about current processing, and the committee voted inexpedient to legislate and placed it on consent. The committee next considered House Bill 233, with an amendment to remove a requirement affecting the New Hampshire Vaccine Association. Supporters argued the bill would reduce an unnecessary burden and improve transparency, while opponents said the committee should not single out one private 501(c)(3) organization. The amendment was adopted 8-5, and the bill as amended then passed 7-6; a minority report was requested. Finally, the committee opened House Bill 536, a proposed 1.5% cost-of-living adjustment for certain state retirees. The sponsor and supporters argued retirees had not received adequate COLAs and that the bill would help offset inflation, while the retirement system testified that the proposal would add significant costs, including an estimated $1.5 million for the state, $6.6 million for political subdivisions, and about $100.7 million in present-value unfunded liability, with the impact reflected in future employer contribution rates.

Transcript Highlights:

• However, our accrued liability has increased.
• So our unfunded liability, what we are short, is $9.7 billion.
• But at that point in time, our liability was less than a billion dollars.
• So while we're making improvement, that unfunded liability...
• And the SB 72 was really to address the unfunded liability.