Transcript Highlights:

• responsibilities include adoption of actuarial standards, studying for providing additional benefits, fiduciary
• responsibilities include adoption of actuarial standards, studying for providing additional benefits, they have fiduciary
• I want to preface that we respect the fiduciary responsibility this group has to state pension holders

Committee: Joint Select Committee on Pension Policy

Summary: The Select Committee on Pension Policy approved the June minutes by roll call vote, with 11 ayes and 6 excused. The chair then outlined meeting procedures and public comment rules before educational briefings began. Lisa Wan of the Office of the State Actuary gave the agency’s annual update, describing its staffing, clients, strategic plan, and performance measures. She noted the office is a small nonpartisan legislative agency that provides actuarial valuations, fiscal notes, policy analysis, and support for multiple retirement systems and boards, and said the office faces a heavy workload in 2025 because of the demographic experience study and other recurring projects. Jacob White provided the annual LEOFF 2 Board update, covering the board’s structure, plan demographics, funded status, contribution rates, and several policy topics under review. Those topics included a Seattle overtime/pension spiking review, catastrophic disability survivor benefits, retiree return-to-work employer contributions, and the change in interest credited to member accounts. He said the board would continue coordinating with DRS and report back through interim updates. Erin Gutierrez presented background for the LEOFF 1 study, explaining plan benefits, medical and death benefits, historic funding, and federal tax qualification issues. She compared Substitute House Bill 2034 and Substitute Senate Bill 5085, describing 2034 as a restatement/termination approach and 5085 as a merger into a Legacy Retirement Plan, both requiring IRS determination letters. Committee members asked questions about LEOFF 1 medical costs, funding sources, and tax implications, and public commenters urged the committee to protect tax qualification, consider a recurring COLA for PERS and TERS 1, and address pension policy concerns. The meeting ended with adjournment and notice of a 30-minute break before executive session.

Transcript Highlights:

• AB 586, Flora, professional fiduciary corporations: do pass out on an A roll call. author's amendments
• committee AB 509 flora age verification software do pass out on an A roll call AB5 86 flora professional fiduciary
• corporations do pass out on an A roll call AB 586, Flora, professional fiduciary corporations: do pass

Summary: The Assembly Appropriations Committee held its May 23, 2025 suspense hearing and opened by emphasizing the difficult budget environment, rising costs for constituents, and the need to make tough choices. The chair said many bills would be held, amended to reduce costs, or made two-year bills because the state could not afford broad program expansions this year. The committee also noted the agenda was organized alphabetically by author and that results would be posted later that day. The committee then acted on a large suspense file, taking up hundreds of Assembly bills across topics including housing, health care, education, labor, public safety, climate, water, transportation, elections, and technology. Many bills were held in committee, while many others were approved with cost-saving, clarifying, or author’s amendments. Examples included measures on CalABLE, Covered California enrollment, wildfire and insurance issues, reproductive health, school and college programs, prison and juvenile justice matters, AI and data privacy, and local government and utility regulation. Several bills were converted to two-year bills to continue discussion. Throughout the hearing, the committee repeatedly voted on bills by A roll call or B roll call, often with Republicans not voting on amended measures. Some bills were advanced with notable amendments, such as narrowing scope, removing appropriations, delaying implementation, or striking costly provisions. The committee also approved a number of committee bills and omnibus measures, including emergency management, judiciary, insurance, and water-related bills. At the end of the hearing, the chair stated that the committee had moved 435 bills to the Assembly floor, either as do pass or do pass as amended, and adjourned the meeting.

Transcript Highlights:

• including provisions effective on the date of the child's conception for the Subcommittee on Family Fiduciary
• including provisions effective on the date of the child's conception for the Subcommittee on Family Fiduciary
• On the date of the child's conception for the Subcommittee on Family Fiduciary Relationships.

Bills: HJR99 , HB1399 , HB1400 , HB 1094 , HB365 , HB 1109 , HB647 , HCR35 , SB14 , HB 12 , HB1522 , HB422 , HB675 , HB204 , HB748 , HB912 , HJR99 , HB1399 , HB1400 , HB 1094 , HB365 , HB 1109 , HB647 , HCR35 , HCR123 , HCR124 , HR57 , HR87 , HR111 , HR228 , HR230 , HR322 , HR624 , HR625 , HR626 , HR627 , HR628 , HR630 , HR631 , HR634 , HR635 , HR636 , HR637 , HR638 , HR639 , HR640 , HR645 , HR646 , HR648 , HR649 , HR651 , HR652 , HR653 , HR654 , HR664 , HR665 , HR668 , HR675 , HR676 , HR678 , HR679 , HR680 , HR683 , HR686 , HR688 , HR689 , HR694 , HR695 , HR697 , HR698 , HR699 , HR472 , HR622 , HR632 , HR633 , HR643 , HR655 , HR657 , HR660 , HR661 , HR662 , HR663 , HR667 , HR670 , HR674 , HR681 , HR682 , HR696

Keywords: animal feed, tax exemption, ad valorem taxation, retail, constitutional amendment, retail sale, tangible personal property, Texas tax code, groundwater, water conservation, financial assistance, Texas Water Development Board, innovation fund, local conservation districts, transportation protection agreement, funeral services, insurance exemption, regulation, deceased transportation, HB 365

Transcript Highlights:

• PETITION SPONSORS ON THE PETITION CIRCULATORS OUT A STATUTORY FIDUCIARY DUTY TO THE VOTERS WITH WHICH
• OVERALL THIS IS BEING PUT IN PLACE BECAUSE OF THE FIDUCIARY DUTY THAT THE SPONSOR OWES TO THE VOTERS
• NOW I DON'T KNOW WHAT WOULD HAPPEN WITH THAT INDIVIDUAL PERSON, THESE PETITION CIRCULATORS HAVE A FIDUCIARY

Transcript Highlights:

• Minnesota statutes governing fraud, oversight, and fiduciary responsibilities require state leadership
• Minnesota statutes governing fraud, oversight, and fiduciary responsibilities require state leadership
• Minnesota statutes governing fraud, oversight, and fiduciary responsibilities require state leadership
• </c> violation of public trust and fiduciary violation of public trust and fiduciary duty. duty. duty
• <01:26:15.720><c> responsibility,</c> fiduciary responsibility, fiduciary responsibility, our<01:26:17.720

Bills: HF3900 , HF1849

Committee: House Rules and Legislative Administration

Transcript Highlights:

• That is their fiduciary responsibility: to keep the students safe. I think it's a very good bill.
• That is their fiduciary responsibility: to keep the students safe. I think it's a very good bill.

Transcript Highlights:

• treasurer to enter into a contract with a third party if the treasurer is unable to conduct its fiduciary
• treasurer to enter into a contract with a third party if the treasurer is unable to conduct its fiduciary

Summary: The meeting was a caucus-style review of two packets of bills, with staff reading summaries and members briefly explaining several measures. Topics included appropriations for pregnancy resource centers, home- and community-based services for the elderly and people with disabilities, veteran specialty courts, child care grants and infrastructure, language acquisition services for deaf or hard-of-hearing infants and toddlers, ambulance service regulation, short-term rental rules, tourism improvement areas, manufactured home installer licensure, CPR/AED training in schools, veterans’ park fee exemptions, and multiple child welfare and family-court bills. Several Senate bills were also reviewed, including optometry standards, behavior analyst licensure transfer, virtual mental health hearings, and assisted-living residency rules. Members speaking for bills emphasized themes such as supporting aging in place, improving rural ambulance access and reporting, protecting children in DCS cases, preventing poverty alone from being treated as neglect, and expanding access to health screenings and services. Other sponsors described measures to help veterans, strengthen school safety, and create local funding or improvement mechanisms for tourism and child care. Some bills were described as technical or administrative changes, such as post-nuptial agreement rules, tax lien procedures, and local government contract posting requirements. No formal votes were taken in the transcript excerpt, but many bills were noted as being on the consent calendar or third-read consent calendar, while a few had been removed from consent or were not yet on a calendar. The meeting concluded after the final bill on the second packet, HB 4025, was summarized as creating a study committee on gasoline and petroleum refinery feasibility.

Transcript Highlights:

• Treasurer to enter into a contract with a third party if the Treasurer is unable to conduct its fiduciary
• Treasurer to enter into a contract with a third party if the Treasurer is unable to conduct its fiduciary

Summary: The meeting reviewed two caucus packets covering a wide range of bills, with most items described by staff and then passed over without questions. Topics included appropriations for pregnancy resource centers, home- and community-based services for seniors and people with disabilities, veteran specialty courts, child care grants and infrastructure, emergency shelter grants, language acquisition services for deaf or hard-of-hearing infants and toddlers, and uranium contamination monitoring. Other measures addressed utility plant replacement, local government investment pools, task-order contract posting, ambulance reporting and certificate-of-necessity changes, short-term rental regulation, tuition waivers for dependents of disabled veterans, memorial authorization, manufactured home installer licensing, CPR/AED training in schools, national park fee exemptions for military members and veterans, and a tourism improvement area funded by lodging businesses. Several bills focused on child welfare and family law, including expanded kinship placement notification, a neglect definition change tied to poverty, evidence rules in custody and dependency matters, DCS investigations when a protective parent is involved, and parenting-time supervision requirements. Health-related bills included midwife practice changes, controlled substance monitoring program updates, interstate EMS licensure, prostate cancer screening coverage, sleep apnea coverage, and resident electronic monitoring in care facilities. Judiciary and property-related bills included enhanced trespass penalties, post-nuptial agreement rules, tax lien excess proceeds procedures, and unlawful entry into residences occupied by vulnerable adults. A few members briefly explained or defended selected bills, including the child protection measures, the CPR training requirement, the ambulance reporting bill, the tourism improvement area bill, and the bill moving inter-facility transports away from police. The sponsor of HB 2950 emphasized it was a voluntary, opt-in lodging assessment with local approval and statutory guardrails. No roll-call votes were described in the transcript, and most bills were noted as being on consent or third-read consent calendars, with several removed from consent or not yet on a calendar.

Transcript Highlights:

• “A litigation funder shall have a fiduciary duty to a party in a civil action.
• Litigation funder shall have a fiduciary duty to a party in a civil action.
• “And so if we’re now saying that that litigation funder has a fiduciary duty to the party and the civil
• I don’t think we say the bank is a fiduciary when they’re doing a car loan for my car.
• I don’t think we say that a student loan lender is a fiduciary who has some obligation to the student

Summary: The House convened with prayer, the Pledge of Allegiance, approval of the House Journal by a 121-0 vote, and a brief suspension of business for the Speaker to sign HB 2014. Members also observed a moment of silence for Butler County Fire Protection District Sergeant Commander Jatin Warren, who died in the line of duty, and the chamber introduced several guest groups, including Missouri Council on Aging representatives and county clerks. A resolution was also presented honoring former state representative K. H. Steinmetz for her 18 years of service in the Missouri House. The House then received committee reports recommending passage of HB 2934, HB 1800, and HB 1707. On third reading, HB 2974 passed 136-0 on telehealth and licensure reciprocity; HB 2934 passed 121-24 on consolidating St. Louis convention center governance; HB 2057 passed 137-10 on entertainment districts for Osage Beach and Chesterfield; the combined HB 1839/2921/3015 passed 120-19 on age verification for harmful online content; HB 1707 passed 149-0 to bar the Department of Revenue from taxing credit card processing fees; HB 2819 passed 145-0 to set rounding rules as the penny is phased out; and HB 2600 passed 148-0 to allow ambulance districts to combine resources for coverage. HB 1800, which reduces the inflationary growth factor for certain taxing districts from 5% to 3% and adjusts assessment ranges, drew the most extended debate over its effect on schools, fire districts, and taxpayers; it ultimately passed 82-61. Members also perfected HB 2774, which bars state and local governments from restricting equipment sales or use based on fuel source, and HB 2383, a utility infrastructure protection bill adding wired/copper infrastructure to existing critical infrastructure protections and setting penalties for theft or damage; HB 2383 was amended to align with the Senate version and then perfected. Finally, the House began debate on a combined bill package including HB 1664, 1610, 1645, and 2182, which would extend the statute of limitations for child sexual abuse civil claims while also shortening the general personal injury statute of limitations from five years to three; the child sexual abuse provisions drew broad support, while the tort-reform portion prompted sharp disagreement over access to justice versus business certainty.

Transcript Highlights:

• be successful so we are acting<00:42:17.040><c> with</c><00:42:17.200><c> a</c><00:42:17.359><c> fiduciary
• </c><00:42:18.000><c> responsibility</c> acting with a fiduciary responsibility acting with a fiduciary
• I do believe that we have a fiduciary responsibility to build MIFA into a durable, lasting state agency
• believe that<01:04:40.119><c> we</c><01:04:40.319><c> have</c><01:04:40.440><c> a</c><01:04:40.599><c> fiduciary
• </c><01:04:41.640><c> responsibility</c> that we have a fiduciary responsibility that we have a fiduciary

Committee: Senate Energy, Utilities, Environment, and Climate

Transcript Highlights:

• And hopefully today, when these members come to the well,... ...reach their fiduciary responsibility.
• they've had with them and the models they've been developing and sending to them, which again, a fiduciary
• And for them to go out and materially misrepresent this fact is a breach of fiduciary duty.
• I want to get into fiduciary duty now, and we'll go through the depths of this, because this is very
• Do you agree that employer-sponsored health plans are governed by ERISA fiduciary standards?

Committee: House Health and Welfare

Summary: The committee first adopted the minutes from several prior 2025 meetings, then took up HB 574 by Rep. Spell, which updates the names of two organizations on the Mental Health Advocacy Service Board of Trustees. Rep. Spell explained it as a technical cleanup bill to correct the names of the Louisiana Mental Health Association and the Louisiana State Medical Society so the board’s membership records match current organization names. With no objections, HB 574 was reported favorably. The committee then heard HB 486, also by Rep. Spell, to join the Psychology Interjurisdictional Compact (PsyPact) and allow Louisiana psychologists to provide telepsychology and temporary in-person services across state lines. Rep. Spell and PsyPact representatives said the compact would expand access to mental health care, especially in rural areas, while maintaining standards and disciplinary oversight. The committee adopted amendments on fees and the effective date, and HB 486 was reported favorably with amendments. HB 198 by Rep. Eccles proposed a Medicaid reimbursement methodology for ambulatory surgical centers, using a Medicare-based rate to improve access for Medicaid patients needing specialty procedures. Amendments were adopted to add ophthalmology-related services and to cap reimbursement at the lesser of the outpatient hospital rate or 100% of the Medicaid rate, along with a technical amendment to address the fiscal note. Supporters from GI and ASC groups said the bill would improve access and lower long-term costs, and the bill was reported favorably with amendments. The committee spent the most time on HB 182 by Rep. Travis Johnson, which would require hospitals to ensure access to sexual assault forensic exams and related training. Johnson, law enforcement witnesses, and the Attorney General’s office emphasized the need for timely evidence collection, especially in rural areas, and said the current system leaves victims traveling long distances or losing evidence. Hospital and coroner witnesses supported the goal but opposed the bill as written, arguing it could impose duties on hospitals without enough trained personnel, funding, or a workable statewide training and coordination system; they urged a statewide coordinator, mobile SANE units, and clearer implementation. The bill was not finally disposed of in the portion of the meeting provided, and members discussed continuing to work on amendments and timing before floor consideration.

Transcript Highlights:

• and organizations tens of millions of dollars, because I would suggest that they've breached their fiduciary
• they've had with them and the models they've been developing and sending to them, which again, a fiduciary
• And for them to go out and materially misrepresent this fact is a breach of fiduciary duty; it's a risk
• I want to get into fiduciary duty now, and we'll go through the depths of this, because this is very
• Do you agree that employer-sponsored health plans are governed by ERISA fiduciary standards?

Bills: HB62 , HB124 , HB182 , HB193 , HB198 , HB203 , HB223 , HB237 , HB469 , HB486 , HB574 , HB779 , HB796 , HB919 , SCR2 , SB4 , SB36 , SB38 , SB109 , SB152 , SB168 , SB195 , SB216 , SB221 , SB236 , SB404

Committee: House Health and Welfare

Keywords: Louisiana Women's Policy, gender equality, policy research, commission membership, women's representation, Domestic Violence, judicial experience, legislation, criminal law, family law, HB182, sexual assault, rape kit, forensic examination, forensic medical exam, sexual assault survivor, sexual assault nurse examiner, SANE, emergency department, hospital staffing

Transcript Highlights:

• the lease, the renewal is in the best interest of the trust, the renewal is supported by written fiduciary
• terms of the lease renewal is in the best interest of the trust renewal is supported by written fiduciary
• renewals can occur without auction only when it's in the best interest of the trust and supported by fiduciary
• renewals can occur without auction only when it's in the best interest of the trust and supported by fiduciary
• We have fiduciary concerns and concerns related to the need for extra resources, including possible increases

Bills: HB2014 , HB2055 , HB2145 , HB2150 , HB2696 , HB2755 , HB2763 , HB2781 , HB2782 , HB2787 , HB2795 , HB2889 , HB2975 , HB2985 , HB2986 , HCM2009 , HCR2020 , HCR2038

Committees: Senate Natural Resources , Senate Senate Natural Resources Committee of Reference

Keywords: air emissions, fuel blends, environmental quality, feasibility study, Arizona Department of Agriculture, brackish groundwater, water supply development, desalination, Arizona Revised Statutes, water infrastructure, financial assistance, environmental reviews, fuel reformulation, gasoline standards, environmental regulations, ethanol supply, Air Quality, state land department, mineral lease, renewals

Transcript Highlights:

• I mean, from a fiduciary perspective to your members. We're focused on providing electric service.
• Shareholders are who investor-owned utilities owe fiduciary obligations to.
• You know, if I'm a board member, I'd wonder about my fiduciary duty, right, if I was permitting 30, 40
• A lot of co-ops have actually been discharging their fiduciary obligations to their members by saying
• But it's very different from a situation where the state has said to a private company that owns fiduciary

Bills: HB3445 , HB3448

Committee: House S/C on Telecommunications & Broadband

Keywords: telecommunications, electric cooperative, rights-of-way, infrastructure, provider access, right-of-way, pole attachment, regulatory access

Transcript Highlights:

• I'm operating off an assumption that the elected officials for that political subdivision have a fiduciary
• situation, or the potential for a situation, where an arbitrator is the one who is dictating that fiduciary
• doing local business for local municipalities and take away some of that elected responsibility on fiduciary

Committee: House Local Government, Elections and Pensions

Summary: The committee first heard House Bills 2161, 1830, and 1728 together. Those bills would revise the appointment structure for the St. Charles City-County Library Board so that the four most populous cities in St. Charles County, based on the most recent census, would each appoint one trustee, while the county governing body would continue appointing five members. Sponsors said the change simply codifies an existing informal practice and does not change the board’s total size. St. Charles County supported the measure, and there was no opposition testimony. The committee then heard House Bills 3283 and 3306, which were described as identical bills creating timelines and procedures for collective bargaining between public employers and labor organizations. The bills would require bargaining to begin within set timeframes, move unresolved disputes to mediation after 180 days, then to arbitration if mediation fails, and make arbitration decisions binding. Supporters, including labor representatives, firefighters, police, and some local officials, said the bills would curb delay tactics, reduce litigation costs, improve morale and retention, and provide clear rules when contracts expire. Several witnesses described long-running disputes in places such as Cape Girardeau, Robertson Fire Protection District, Richmond Heights, and Brentwood as examples of why deadlines and enforceable procedures are needed. Opponents, led by the Missouri Municipal League, argued that binding arbitration would shift final fiscal authority away from locally elected officials and could limit cities’ ability to respond to budget stress or emergencies. They said the timeline provisions had merit but wanted alternatives to arbitration that would preserve local control and taxpayer accountability. Committee members questioned how good-faith bargaining would be enforced, how arbitrators would weigh municipal budgets, and whether the bills could affect police, fire, and other public employees. No votes were taken, and both public hearings were completed before the committee adjourned.

Transcript Highlights:

• As chair of the Board of Trustees, I have a fiduciary responsibility to ensure the long-term financial
• As chair of the Board of Trustees, I have a fiduciary responsibility to ensure that long-term financial
• As fiduciaries and trustees, we cannot ignore this pattern.

Summary: The committee heard public testimony on House Bill 2070, which would create state funding parity for Western Washington University by tying appropriations to a per-student funding ratio. The prime sponsor and Western officials said Western has long been the lowest-funded public four-year institution on a per-student basis, leading to budget cuts, reduced student services, and delayed graduation. Students, faculty, and university leaders testified in support, while some members questioned whether the bill should instead address a broader higher-education funding formula for all institutions. Central Washington University also supported the bill but suggested a broader approach. No vote was taken on HB 2070. The committee then heard House Bill 2671, which would expand eligibility for state financial aid to certain nonprofit out-of-state branch campuses operating in Washington if they meet specified accreditation, duration, and authorization requirements. Rep. Timmons said the bill is intended to help students in an accelerated nursing program at Northeastern University in Seattle access aid and support workforce needs. Northeastern’s dean testified in support, saying the bill would align financial aid law with prior changes to degree-granting statutes and would not increase state spending. The hearing on HB 2671 was then closed. House Bill 2617, dealing with the higher-education “fund split,” drew extensive testimony. The bill would gradually shift more of employee compensation increases and central services costs to state funding, and would require a study of essential student services. The sponsor and many university, faculty, staff, and student witnesses argued that the current funding practice shifts costs to tuition, contributes to layoffs, program cuts, larger classes, and reduced student support, and creates instability across public higher education. Community and technical college representatives also said underfunding COLAs harms operations and students. The committee then moved to executive session on Senate Bill 6258, which would authorize the Washington Medical Commission to create a non-disciplinary pathway for voluntary license relinquishment; the committee approved it 14-0 with a due-pass recommendation, with three members excused.

Transcript Highlights:

• This morning, the chair refers House Bill 1928 to the subcommittee on family and fiduciary relationships
• Parliamentarian's Office realized that it should have been referred directly to the subcommittee on family and fiduciary
• The chair refers House Bill 1928 to the subcommittee on Family and Fiduciary Relationships.

Bills: HB170 , HB865 , HB748 , HJR112 , HB 1110 , HB1495 , HB786 , HB 1130 , HB170

Committee: House Judiciary & Civil Jurisprudence

Keywords: civil liability, self-defense, force, deadly force, legal immunity, attorney's fees, criminal justice, firearms, liability, veterans, gun ownership, immunity, firearm hold agreement, sexual abuse, nondisclosure, confidentiality, public policy, Trey's Law, parental rights, child upbringing

Transcript Highlights:

• This is why our fiduciary responsibility is so important.
• So as we move forward, let us remain committed to protecting CalPERS, honoring our fiduciary duty, and

Transcript Highlights:

• This is why our fiduciary responsibility is so important.
• So as we move forward, let us remain committed to protecting CalPERS, honoring our fiduciary duty, and

Summary: The Assembly Committee on Public Employment and Retirement and the Senate Committee on Labor, Public Employment, and Retirement held a joint hearing required by law to receive an independent report from the California Actuarial Advisory Panel on CalPERS. Chair McKinnor and Senator Smallwood-Cuevas opened by emphasizing CalPERS’ importance to retirement security for public employees and to the state budget. Scott Tarando, CalPERS Chief Actuary and a CAP member, presented on the statutory disclosure requirements in Government Code Section 2029, including the use of CalPERS’ 6.8% discount rate and the need to show how changes in investment return assumptions and amortization periods affect liabilities, contribution rates, and budgets. Tarando explained that lower investment returns increase contribution rates and unfunded liabilities, while higher returns reduce them. He also described CalPERS’ 20-year amortization period for new unfunded liabilities, comparing it to a mortgage and noting that shorter periods raise near-term costs but reduce long-term interest costs. He said the CAP has recommended a 15- to 20-year range and that CalPERS’ current approach is intended to smooth volatility for a large, ongoing plan. Members asked about the meaning of average service lifetime, the timing of valuation data, whether more current data could be used, the effect of AI and workforce changes on assumptions, and whether contribution changes affect retiree benefits. Tarando said retiree benefits do not change with annual valuations, that CalPERS uses audited year-end data because it is the most reliable basis for rates, and that AI impacts are being monitored but are too early to quantify. Committee members also discussed CalPERS’ funded status, with Tarando saying it had improved from the mid-60% range about 10 years ago to around 79% at fiscal year-end and over 80% more recently, reducing pressure on employers and the state budget. Michael Cohen, CalPERS’ investment operations chief, said CalPERS had complied with federal information requests and that its annual audits are publicly available, but no formal federal review had been released. In public comment, a representative of the California State Association of Counties praised the improved funded status and the role of PEPRA reforms. The chairs closed by reaffirming CalPERS’ fiduciary duty and the goal of protecting retirement security for public workers; no votes were taken.

Transcript Highlights:

• This is why our fiduciary responsibility is so important.
• So as we move forward, let us remain committed to protecting CalPERS, honoring our fiduciary duty, and