Video & Transcript Research : 'liability shield'
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TX
Texas 89th Regular
89th Legislative Session - Second Called Session Sep 2nd, 2025
Texas House Floor Meeting
Transcript Highlights:
- The names of the representatives are forever shielded from the public. So let's step back.
Bills:
HB18, SB 54, SB 10, HR 76, HR 77, HR 78, HR 82, HR 83, HR 88, HR 89, HR 93, HR 94, HR 95, HR 98, HR 101, HR 102, HR 104, HR 105, HR 107, HR 108, HR 109, HR 110, HR 111, HR 112, HR 113, HR 123, HR 125, HR 79, HR 80, HR 81, HR 84, HR 85, HR 86, HR 87, HR 90, HR 91, HR 92, HR 96, HR 97, HR 100, HR 103, HR 106, HR 114, HR 115, HR 116, HR 117, HR 118, HR 119, HR 120, HR 121, HR 122, HR 124, HB 18, SB 54, SB 10, HB 8
Keywords:
HB 18, Texas Legislature, quorum break, quorum-busting, legislative walkout, absent legislators, political contributions, campaign finance, political expenditures, legislative caucus, specific-purpose committee, Texas Ethics Commission, civil penalty, show cause order, district court, Fifteenth Court of Appeals, session fundraising, travel lodging food expenses, legislative session, compelled attendance
TX
Transcript Highlights:
- Archer, Kimberly Shields, Mike Marshall, Robert Sandoz, and Jennifer Sheridan.
Bills:
HB5560, HB2, HB24, HB3233, HB1397, HB2067, HB3133, HB5696, HB5680, HB2885, HB3966, HB3556, HB3595, HB144, HB26, HB2038, HB521, HB4, HB 1178, HB42, HB 1211, HB783, HB3963, HB2240, HB1690, HB 1234, HB3372, HB27, HB4211, HB2243, HB2853, HB4638, HJR7, HB 100, HB 126, HB3783, HB5138, HB2512, HB5616, HB4751, SB17, SB1637, SB1833, SB2155, SB21, SB2778, SB260, SB8, SB12, SB37, SB379, SB441, SB1566, SB2878, HB4112, HB3866, HB4749, HB2844, HB150
Keywords:
groundwater, civil penalties, water conservation, drought contingency, environmental protection, public education, teacher compensation, certification, funding, school finance, educator rights, education funding, charter schools, staff compensation, state aid, retention allotment, zoning, public notice, local government, residential development
TX
Transcript Highlights:
- We had to shield them.
Keywords:
bail reform, defendants, pretrial detention, public safety, criminal justice, charitable bail organizations, criminal procedure, public safety report, victim notification, family violence, bail bonds, public funds, political subdivision, injunction, taxpayer rights, violent crimes, sexual offenses, community safety, constitutional amendment, trafficking
NH
New Hampshire 2025 Regular Session
Capital Project Overview Committee (09/29/2025)
Transcript Highlights:
- And then third-party liability is another component of this capital project, and that is for ensuring
- And then third-party liability is another component of this capital project, and that is for ensuring
- That's what the third-party liability system is for.
- /c> third-party liability is another third-party liability is another component<00:13:01.760>
of <00:13:25.120>efforts <00:13:25.519>are liability system is for. efforts are liability
Summary:
The committee approved the minutes from its June 30 meeting and then considered Capital Project 2515, a request from the Pease Development Authority Division of Ports and Harbors to spend up to $125,000 from the Harbor Dredging and Pier Maintenance Fund to replace a deteriorated 99-foot floating dock at Rye Harbor. Acting Director Richard Hartley said the dock is used for passenger loading and unloading for charters and whale-watching tours and is in poor condition. Representative Edgar moved approval, Representative Wiler seconded, and the motion carried.
The committee then received several informational items, including quarterly and maintenance reports from the Department of Administrative Services, the Community College System of New Hampshire, and the Pease Development Authority. It also heard a presentation from the Department of Health and Human Services on Capital Project 2516, the Beneficiary Service Improvement project supporting closed-loop referrals and related systems. DHHS described the project as a mix of Medicaid enterprise functions and New Hampshire Care Connections tools, including provider modules, third-party liability, event notifications, and closed-loop referrals to connect health and human service providers. Officials said the project is largely federally funded, with capital funds representing only part of the overall effort.
Members asked about the accounting breakdown, prior committee review, provider participation, patient experience, and public response. Representative Burr questioned whether the project had been fully presented previously and raised concerns about the scope and necessity of the $8 million effort; DHHS responded that earlier work was discussed in other committees and that the current presentation covered only capital funds. Senator Waters asked about user response and patient experience, and DHHS said feedback has been generally positive but the system is still in design and implementation. In response to questions about participation, DHHS said 84 providers are currently on the network and clarified that a “provider” generally means an individual organization or health system, not each individual clinician. The committee also set its next meeting for December 9 at 9:00 a.m. at Granite Place, Room 228, and then adjourned.
FL
Florida 2025 Regular Session
March 20, 2025 - 11:30 AM
Transcript Highlights:
- The significant increase in liability limits could strain our budget, and we may face higher settlement
- Should we have to purchase general liability insurance merely because there is no longer a cap in place
- If we can't raise taxes, we may need to cut services to allocate more funds for liability coverage and
- We can't adjust our business model like the private sector would to limit our liability.
- We can't adjust our business model like the private sector would to limit our liability.
Summary:
The Budget Committee met with a quorum and took up several bills. HB 677, relating to state-covered fertility preservation for employees undergoing cancer treatment, was introduced as coverage for egg and sperm preservation for up to three years, with an estimated fiscal impact of about $813,000. After brief questions and no public testimony or amendments, the bill passed unanimously and was reported favorably. The committee then considered CS/HB 59, which would reform Florida’s wrongful incarceration compensation process by extending the filing deadline from 90 days to two years, removing the clean-hands requirement, and allowing exonerees to choose between the state compensation process and a civil lawsuit; it was supported by the City of Flagler Beach and passed unanimously. CS/HB 1313, which recreates the Resilient Florida Trust Fund in the Department of Environmental Protection before its scheduled termination in 2025, also passed unanimously after supportive testimony from advocacy groups.
The committee received a lengthy presentation from the Department of Management Services on the State Group Insurance Program and the recent Revenue Estimating Conference. The presentation covered enrollment, revenues and expenditures, rising medical and pharmacy costs, emergency room utilization, GLP-1 drug spending, and options for tighter formulary and utilization management. Members asked about ER cost growth, GLP-1 coverage and copays, PBM oversight and potential conflicts, avoidable ER visits, cancer screening claims, dental and vision costs, specialty drug biosimilars, and possible savings from more restrictive pharmacy models. DMS said it would follow up on several questions and noted ongoing work on cancer coordination, preventive screening, biomarker testing, and a proposed member-facing benefits platform.
The committee also heard extensive testimony on HB 301, which would raise sovereign immunity caps from $200,000 per person and $300,000 per incident to $1 million and $3 million, align limitations periods with private claims, and allow government entities to settle above the caps without a claims bill. Local governments, school-related entities, and county and city associations opposed the bill, warning of major fiscal impacts, higher insurance costs, and pressure on services; several speakers urged smaller increases or a tiered approach. Proponents, including families affected by catastrophic injury or death, argued the current caps are too low and the claims bill process is inefficient and unfair. After debate, the bill passed on a recorded vote, with some members voting no, and was reported favorably.
NM
New Mexico 2026 Regular Session
House - Appropriations and Finance Jan 16th, 2026 at 09:09 am
House Appropriations & Finance
Transcript Highlights:
- If we have a liability, it's going to be more than 2 million.
- And I think the liabilities aspect is where we're concerned. Thank you. And I think Ms.
- So these are GSD rates that are being charged at a higher rate for liability.
- Does that change potentially the liabilities, Mr. Chair, members of the committee?
- I think liability is an issue. Thank you, Mr. Chair, and thank you, presenters.
MN
Minnesota 2025-2026 Regular Session
Judiciary Committee Meeting - 2026-03-25
Judiciary Finance and Civil Law
Transcript Highlights:
- Um, the current statute has requirements relating to liability insurance for the association.
- requirements relating to liability requirements relating to liability insurance<00:49:03.839>
- don't cause the association to have an adverse liability history on their insurance.
- Um, I would just like to clarify on the primary liability insurance.
- insurer not the be the primary liability insurer not the association.
Keywords:
firearm restrictions, domestic violence, public safety, court orders, criminal convictions, identity theft, subpoena authority, fraud, statute of limitations, financial crime, victim notification, expungement, criminal justice, plea agreements, minor victims, identification protection, stalking, crime data, Bureau of Criminal Apprehension, law enforcement grants
TX
Texas 89th Regular
Senate Committee on Finance (Part II) Jan 29th, 2025
Transcript Highlights:
- That's due to one-time funding last session, which was provided to eliminate the unfunded liability of
- It's designed to reduce the risk of the unfunded liability creeping up again.
- Really what I should have put there is the unfunded actuarially accrued liability.
- So what's really what I should have put there is the unfunded actuarially accrued liability.
- The agency is requesting $7.2 million over the biennium to help with your unfunded liability.
Summary:
The Senate Finance Committee heard budget presentations for the Texas Historical Commission, the Pension Review Board, the Employees Retirement System (ERS), Social Security and benefit replacement pay, the Texas Emergency Services Retirement System (TESSRS), and the Cancer Prevention and Research Institute of Texas (CPRIT). The Legislative Budget Board outlined recommendations and major changes for each agency, including reductions tied to one-time projects at the Historical Commission, continued funding for courthouse grants, heritage trails, and Holocaust/genocide education, as well as new or modified riders and capital items. For the pension-related items, LBB described funding changes for PRB, ERS, Social Security, and TESSRS, including ERS health plan cost growth driven largely by pharmacy costs, the status of pension funding reforms, and TESSRS’s request for additional state support to address its unfunded liability and staffing needs.
Members asked extensive questions about the Historical Commission’s one-time funding, unexpended balance authority, courthouse preservation, the Presidio La Bahia and National Museum of the Pacific War projects, and coordination of Texas history messaging across sites such as the Alamo, San Jacinto, Washington on the Brazos, and other heritage locations. The Historical Commission chair emphasized heritage tourism, economic development, and the need for continued investment in historic sites, staffing, IT modernization, and vehicles. On the pension items, senators discussed PRB oversight of local systems, including the Dallas police and fire pension situation, and ERS investment returns, benchmark comparisons, and rising health costs. ERS officials said the plan remains well funded overall, noted a 2021 cash balance reform and a planned supplemental legacy payment, and explained that GLP-1 drugs such as Ozempic and Mounjaro are a major driver of pharmacy spending; they also said the agency is working with the Texas Pharmacy Initiative and that rebates are contractually returned to ERS.
For TESSRS, LBB and agency staff said the system serves volunteer and part-paid emergency personnel, is facing an infinite amortization period, and is requesting additional appropriations, staffing, and IT funding, along with a statutory change to allow an actuarially determined state contribution. The agency said it may otherwise need to cut benefits for volunteer firefighters. For CPRIT, LBB reported about $600 million in recommended funding for the biennium and a 10-FTE increase, while the agency described its $6 billion voter-approved program, $3.75 billion in grants awarded to date, and $10.4 million in revenue sharing since 2011. CPRIT’s only exceptional item was a request for a 10% salary increase for two exempt positions. No committee votes or formal actions were taken in the transcript.
NM
New Mexico 2026 Regular Session
House - Taxation and Revenue Feb 4th, 2026 at 08:32 am
House Taxation & Revenue
Transcript Highlights:
- All these people in New Mexico, but won't make any money and have a tax liability to apply the credits
- Well, I hope a lot of people have tax liabilities, Mr. Chair. Otherwise, we have a weak tax system.
- Chair and Representative Chandler, if it's a PIT credit, it could be someone who has a PIT liability.
- If a data center had revenue and added tax liability, they could certainly acquire that credit.
- You can have a taxpayer now who doesn't Have tax liabilities, so they have a credit sitting on their
HI
Hawaii 2025 Regular Session
JDC, JDC DEFER Public Hearings 02-26-2025
Transcript Highlights:
- It provides limits on liability for state and local governments, spans the notice requirement for an
- <00:14:43.480>
on transportation provides limits on transportation provides limits on liability - 44.079>
for <00:14:44.199>state <00:14:44.399>and <00:14:44.519>local liability - for state and local liability for state and local governments<00:14:46.440>
um <00:14:47.120>< - <00:15:50.160>
and and employees from civil liability and and employees from civil liability
Summary:
The Judiciary Committee took up a series of Senate bills and generally advanced most of them, often with technical or substantive amendments. SB 15 on the definition of historic property was amended to narrow the definition to properties at least 50 years old that are culturally significant or otherwise significant for Hawaii Register purposes, and it passed. SB 97 on excessive speeding was amended to clarify felony penalty language, license revocation timing, and fingerprinting procedures, and passed. Other bills passed as is or unamended included SB 145 on water shortages, SB 108 on accessible parking enforcement, SB 660 on hospitality anti-harassment measures and panic buttons, SB 1662 on landlord application fees and tenant screening reports, SB 1421 on Department of Health provider arrangements, SB 1439 on DOH nuisance authority, and SB 1452 updating controlled substances law. SB 1454 on wage payment violations passed with technical amendments only, while SB 1481 on motorcycle instruction permits was deferred as not ready.
Several bills received more substantial changes. SB 253 on condominium association budget summaries was amended to require a single document and to shift the standard to substantial compliance; it passed. SB 371 on critical infrastructure damage was amended to remove a section affecting manslaughter law and to apply specifically to broadband and cable networks; it passed. SB 984 on water pollution liability for large landowners was advanced with a defective date. SB 1517 on public land leases for recreational residential use was amended to change the lease term to five years and add a defective date. SB 1074 on temporary continuation of challenged activities during environmental review was significantly amended to limit the provision to currently authorized activities, add a one-year limit with possible court extension, and clarify other terms; it passed. SB 1322 on emergency mental health transport was amended to restore provider-initiated transport language, require notice and coordination, remove special immunity provisions, and clarify court-ordered treatment procedures; it passed.
The committee also passed SB 1496 on disability access to information in public accommodations, with a request that the committee report discuss the Roe v. St. Pizza case and the distinction between physical and digital accommodations. SB 1255 on Uniform Information Practices Act record retention was deferred as not ready. At the end of the meeting, the chair noted that both agendas were completed and the committee adjourned.
TX
Texas 89th 2nd C.S.
89th Legislative Session - Second Called Session Aug 27th, 2025
Texas House Floor Meeting
Transcript Highlights:
- It says that if you are a pharmacist and you decide to advertise ivermectin, the protective liability
- So there is nothing—it doesn't go to this extent that Texas is proposing in terms of liability.
- And your amendment would restore consumer rights and liability protections? Is that right?
- Representative Collier: There's nothing about civil or criminal liability.
- Kane: This goes towards the liability of the doctor, is that correct?
Keywords:
ivermectin, pharmacist authority, prescription-free, healthcare regulation, patient access, HB 48, Texas alert notification systems, emergency alerts, public warning systems, alert fatigue, notification fatigue, Texas Division of Emergency Management, Department of Public Safety, DPS alerts, emergency management, State of Texas Emergency Assistance Registry, STEAR, disaster notifications, weather alerts, Amber Alert
MO
Transcript Highlights:
- Liability if I’m hurt or damaged while I’m on your side. You did include that this year.
- Okay, so I asked him a question about liability, and he said that it's in the bill.
- But I think we're talking about two different types of liability here.
- The bill talks about liability for damages caused, you know, to crops and that sort of thing.
- That's the kind of liability I'm talking about that I would like to see covered in here.
HI
Transcript Highlights:
- And so there's all kinds of liability issues around that.
- <00:34:26.800>
are that are concerned about liability are that are concerned about liability - It would also significant liability.
- I made a comment about liability and opening that up.
- Could you liability and opening that up.
Keywords:
invasive species, agriculture, biosecurity, lease provisions, environment, natural resources, flood management, vegetation removal, Kainahola stream, Hawaii legislation, trees, exceptional trees, significant trees, urban forestry, arborist advisory committee, DLNR, Department of Land and Natural Resources, University of Hawaii, county planning, tree preservation
Summary:
The committee heard several measures related to agriculture, invasive species control, trees, reef protection, and land use. SP 2489 would require Department of Agriculture and Biosecurity leases to include access, invasive-species control, and termination provisions; DAB and DLNR supported it, as did several outside groups, while the Hawaii Farm Bureau and Hawaii Cattlemen’s Council raised concerns about notice, cooperation with lessees, and placing penalties on leaseholders for preexisting infestations. The chair noted six testifiers in support, one opposed, and three with comments.
SP 2310 would appropriate funds to remove overgrown vegetation from the Kohola stream. DAB supported the bill but explained that the work already completed by its contractor stopped at a DOT boundary, and that the affected parcel appears to be a DOT highway segment on ceded lands; the committee discussed whether the appropriation should instead go to DOT. SP 2372, on exceptional and significant trees, received support from DNR and Outdoor Circle, with testimony describing trees as critical infrastructure and suggesting technical amendments to committee membership and the process for recommending trees to county councils. SP 2426, which would authorize DNR to contract with private parties to maintain sunscreen dispensers at state beaches and promote mineral-based sunscreen as reef-protective, drew support from DNR and reef advocates, while another witness questioned the science behind claims about mineral versus chemical sunscreens and urged broader environmental solutions.
SP 2334 would impose a land conversion fee on agricultural land converted to other uses, create a fee fund for programs including healthy soils, and require state agricultural lands to use a conservation metric. DAB offered comments, and testimony from climate and farm groups generally supported the conservation goals but questioned references to programs not yet in place and objected to language excluding solar and wind uses, with one witness urging that agri-voltaics remain allowed. SP 2925, concerning coconut trees, would recognize them as food, water, and cultural resources, require signage for landscape palms, set labeling standards, and create a tax credit for naturally managed consumable coconut trees. DAB shifted from opposition to comments, DNR supported, and testimony from cultural and subsistence advocates strongly backed the bill as a response to coconut rhinoceros beetle impacts; committee questions focused on enforcement of signage, inspection resources, and the proposed tax credit.
NH
New Hampshire 2025 Regular Session
House Ways and Means (03/18/2025)
Transcript Highlights:
- It wasn't cost-effective because of the liability involved.
- Anthem<02:51:50.720>
Blue <02:51:50.960>Cross <02:51:51.200>Blue <02:51:51.399>Shield - <02:51:51.760>
in <02:51:51.880>New Anthem Blue Cross Blue Shield in New Anthem Blue - Cross Blue Shield in New Hampshire<02:51:53.000>
I'm <02:51:53.200>here <02:51:53.359><
Summary:
The committee heard testimony on House Bill 224, which would redirect most money from New Hampshire’s renewable energy fund back to electric ratepayers. The bill sponsor argued the measure would lower energy costs, noting recent utility rate increases and estimating annual savings of roughly $2.5 million to $7.3 million for ratepayers. Supporters said the fund has accumulated money that should be returned to customers rather than used for subsidies, and they emphasized that the state has already rebated similar funds from RGGI for years.
Opponents, including Rep. Kat McGee, argued the renewable energy fund is a successful, nonlapsing dedicated fund that supports local clean-energy projects, energy resilience, emissions reductions, and private investment. McGee said the fiscal note overstated the benefit of rebates and understated the loss of investment, claiming the average annual rebate would amount to less than $10 per customer while the program has helped leverage significant private dollars and nearly 10,000 projects. She urged the committee to reject the bill as a poor deal for the state and ratepayers.
Committee members questioned the fiscal note, the size of the rebate, whether the bill would set a precedent for other dedicated funds, and whether the program’s incentives amount to picking winners and losers. The Department of Energy testified neutrally, explaining how the renewable energy fund works, including renewable energy credits, alternative compliance payments, and the fund’s use for renewable energy initiatives. No vote was taken in the portion of the hearing provided.
MN
Transcript Highlights:
- This provision applies to vendors that have a sales tax liability between 20,000 and 250,000.
- This provision applies to vendors that have a sales tax liability between 20,000 and 250,000.
- This provision applies to vendors that have a sales tax liability between 20,000 and 250,000.
- vendors that have a sales tax liability vendors that have a sales tax liability between<00:32:34.519
- to offset their property tax liability to offset their property tax liability to<01:04:30.960>
Keywords:
local government debt, municipal bonds, county bonds, capital improvements, public financing, bond issuance, public hearing, notice period, bond guarantee, Minnesota Public Facilities Authority, volume cap, private activity bonds, housing finance, residential rental bonds, LIHTC, low-income housing tax credits, redevelopment, courthouse financing, jail financing, law enforcement center
AZ
Transcript Highlights:
- You know, if you have no tax liability, maybe a small business owner, I think, well, I don't have to
- Because obviously some business owners have tremendous income swings in liability and non-liability,
- And liability and non-liability, and I think it's fortunate that all of the year those returns are filed
- Certainly, folks can request a waiver of penalty, and most... and liability and non-liability and I think
- I mean, I don't think there's that many businesses that have zero tax liability that also pay a fine
Keywords:
tax penalties, filing, tax returns, administration, Arizona Revised Statutes, agricultural property, classification, county assessor, property inspection, appeal process, property tax, agricultural classification, Department of Revenue, property valuation, inspection notice, inspection report, on-site inspection, full cash value, rural land, farm land
Summary:
The committee began with member, staff, and page introductions, then heard reminders about public testimony limits. It first considered House Bill 2016, which would eliminate late-filing penalties when a tax return shows zero tax due. The sponsor argued the bill would prevent unnecessary fines on small businesses and individuals with no liability, while staff noted any fiscal impact would likely be minimal. The bill passed on an 8-1 vote, with one member opposing it on the grounds that current waiver procedures already exist and the change could weaken compliance incentives.
The committee then took up House Bill 2104, which would bar county assessors from reclassifying agricultural property for four years after an owner prevails on appeal, unless there is a change in use, ownership, or parcel configuration. The sponsor and agricultural groups said the measure would reduce repetitive annual appeals and provide stability for ranchers and farmers, especially in urbanizing areas and in places affected by fallowing. County assessors opposed the bill, arguing that their offices are better qualified than the State Board of Equalization, that the bill could allow inaccurate classifications to persist, and that it relies too heavily on owners to report changes. After extensive testimony from the Maricopa County Assessor and the State Board of Equalization executive director, the committee approved the bill 5-4.
Next, House Bill 2105 was heard. It would require advance notice of certain property inspections and provide inspection reports to property owners. The sponsor said the goal was to give owners a chance to be present for inspections and to receive the reasons for any denial of agricultural status. Assessors opposed the bill as an unfunded mandate and said they already communicate with owners through mail, door hangers, and other methods, but that a standardized report form does not currently exist. Supporters from the farm and ranch community said the bill would improve transparency and help avoid disputes. The committee passed the bill 5-4.
Finally, the committee heard House Bill 2289, which updates truth-in-taxation and election pamphlet language to reflect higher residential property values, including a new $400,000 example. The sponsor and the Arizona Tax Research Association said the changes would make taxpayer notices more accurate and noted the bill was similar to one that had previously advanced, but without a provision that contributed to a veto. No vote was taken on this bill in the portion provided.
MN
Minnesota 2025-2026 Regular Session
Committee on Commerce and Consumer Protection - 02/18/25
Commerce and Consumer Protection
Transcript Highlights:
- It also requires that a third-party liquor delivery license obtain liability insurance. Mr.
- 00:02:17.280>
license <00:02:18.120>obtain <00:02:19.080>um <00:02:19.760>liability - liy delivery license obtain um liability liy delivery license obtain um liability insurance<00:02
- They have to have the same kind of liability insurance that the owner of a bar has, and what it—uh—drram
- <00:27:31.880>
insurance degree of uh liquor liability insurance degree of uh liquor liability
LA
Transcript Highlights:
- amount, but it has the cost to both the state of the possibility of creating an unfunded accrued liability
- And it got rid of a big chunk of our unfunded accrued liability out there when he did it.
- So the long-term impact that is more likely to create a large unfunded accrued liability is a change.
- So the long-term impact that is more likely to create a large unfunded accrued liability is a change.
- That is more likely to create a large unfunded accrued liability is a change in participant behavior.
Keywords:
HB 17, District Attorneys' Retirement System, retirement system, reemployed retiree, reemployment, supplemental retirement benefit, service credit, benefit suspension, public retirement, district attorney, assistant district attorney, Louisiana District Attorneys' Association, employer reporting, annual report, retirement benefits, state employees, local funds, state funds, Municipal Employees' Retirement System, part-time retirees
WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy Jul 15th, 2025
Select Committee on Pension Policy
Transcript Highlights:
- COLA was largely based on trying to figure out a way of stepping in the closure of the unfunded liability
- , and of course the bill that will be passed basically froze contributions on the unfunded... ...liability
- It seems like when we raised the contribution rates on the unfunded liability too, we basically weren't
- making any contributions on the unfunded liabilities.
- And the fact is the bill basically stopped funding that unfunded liability. Correct.
Summary:
The Select Committee on Pension Policy Executive Committee approved the June minutes and received a brief update from Assistant Attorney General Jesse Yoder, who had no litigation updates but offered to answer questions. Actuary Michael Harbour then previewed the September full committee meeting, which will include a report on the financial condition of the DRS-administered pension plans and the state actuary’s recommended economic assumptions. He also cautioned that any actuarial pricing done over the summer could change if assumptions are updated, and suggested taking votes on potential legislation later in the interim, possibly in November or December.
A discussion followed about the Left 1 benefit improvement and where the funding came from. Harbour said the benefit tied to SSB 5791 (2022) was paid from the Left 1 trust fund, while a separate Left 2 benefit improvement was in SHB 1701, and he agreed to double-check the issue with DRS after members raised conflicting information. Members then discussed the broader Left 1 study, including whether IRS approval is a key barrier and whether options are limited to merger or closure. Several members asked to hear from Ice Miller, which has been advising on the tax issues, and staff said the committee should receive a written response in the next couple of weeks and could have Ice Miller appear in October.
The committee reviewed and adjusted its interim work plan. September will include the actuarial presentations, a more detailed Left 1 study update, and a presentation on PERS and TERS Plan 1 COLAs, including a recap of the bill recommended this year and initial considerations for an ad hoc COLA. October is expected to include DRS administrative and performance updates, with November reserved for the State Investment Board update and a final Left 1 study update, and December may include an educational presentation on excess compensation. Members also requested a future briefing on the month-of-death benefit discussion. The September agenda was adopted, correspondence materials were noted, and the meeting adjourned.
TX
Transcript Highlights:
- much are we actually using the rainy day fund to invest in infrastructure, to pay for long-term liabilities
- one of those that they look at, but they do want to see the state making progress on long-term liabilities
- Ongoing liabilities versus one-time expenditures to where I say, oh my gosh, you know, we're falling
- At the same time, we have these long-term liabilities that.
- So I view these things as long-term liabilities.