Video & Transcript Research : 'bond claim'

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TX

Texas 89th 2nd C.S.

Insurance Apr 2nd, 2025

Insurance

Transcript Highlights:
  • bonds is over a 10-year period.
  • I think the last bond they issued was at about 8.25%.
  • It it removes the catastrophe bonds. It replaces the catastrophe bonds with this, yes, yes.
  • The cost of the claim is not substantial.
  • Uh, these are the biggest claims I see, and I've seen a surge in claims on homes over the last 4 to 5
MN

Minnesota 2025-2026 Regular Session

House Capital Investment Committee 4/1/25

Capital Investment

Transcript Highlights:
  • Thank you. our bonding person for a while for the our bonding person for a while for the range.<00:07
  • So this project coming in... general obligation bonds. I'll also note general obligation bonds.
  • This is the second project that we have in bonding today.
  • What we are asking for from the bonding committee is $13 million in state bonding.
  • What we are asking for from the bonding committee is $13 million in state bonding.
CA
Transcript Highlights:
  • had a general obligation bond in nearly 20 years, nor lease revenue bonds since 2000.
  • and lease revenue bonds.
  • bond payments that we handle.
  • It was about an equal amount of lease revenue bonds and GEO bonds.
  • to lease revenue bonds.
Summary: The committee’s first major discussion focused on higher education facilities across UC, CSU, and the community colleges, with Chair Alvarez framing the issue as a final budget hearing before the May Revise. The LAO presented findings that campuses have grown substantially in buildings and square footage, while classroom and lab utilization remains below legislative standards and deferred maintenance backlogs continue to rise. The LAO also emphasized that the state and segments lack comprehensive data on capital renewal spending and recommended better reporting, clearer funding targets, and long-term planning for renewal and maintenance. UC, CSU, and community college representatives each described large five-year capital plans, aging facilities, seismic and deferred maintenance needs, and the role of student housing, while noting that construction costs are rising faster than inflation. Members questioned the segments about debt service, utilization rates, and how projects are prioritized. UC said its debt service tied to state support is about $665 million annually and described a $30 billion five-year capital financial plan, including housing, medical centers, and building renewal. CSU said it has about $31 billion in five-year needs and more than $8 billion in deferred maintenance, with funding coming from a mix of state-related and one-time sources since the state shifted capital responsibility to CSU. Community colleges said their unmet facilities needs total about $33.5 billion and explained their use of a scoring matrix and FUSION system to rank projects. The chair and members pressed all three systems to better distinguish between projects that are truly shovel-ready and those that are long-term needs, and discussed whether facilities condition data, total cost of ownership, and more standardized metrics should guide future bond proposals. The committee then turned to Proposition 2 and the Governor’s proposed community college capital outlay projects. The Department of Finance said Prop. 2 provides $1.5 billion for community colleges and that the Governor’s budget proposes 29 projects, with two continuing Prop. 51 projects also included. The LAO supported the overall use of the funds but raised concerns about the current 65/35 split between modernization and growth, the unusually large share of gymnasium projects, and some scoring metrics that favor larger campuses and certain regions. Community college officials said the scoring system was developed through participatory governance and would take one to two years to revise, but they supported the funding and agreed to follow up on questions about project categories and the rationale for the weighting. Members also suggested giving more weight to modernization, regional access, and intersegmental or collaborative projects. A final item addressed the CalKids program. The Department of Finance proposed $56,000 ongoing General Fund for three positions, while the LAO recommended approving two positions but rejecting a manager position until the current $7.5 million marketing campaign is evaluated. ScholarShare’s executive director said CalKids has enrolled more than 5 million children, with nearly 600,000 claims and over $45 million distributed, and argued that additional staff and outreach are needed to reach a goal of 1 million claimed scholarships by the end of 2025 and to implement AB 2808. Members asked about marketing effectiveness, data sharing, and eligibility rules, and the program said it is expanding partnerships with Cradle to Career and CSAC. No final vote was taken in the hearing, and the chair indicated the facilities item would be held open.
KY
Transcript Highlights:
  • </c> either paying or not paying the claims either paying or not paying the claims why<00:25:43.080><
  • It's very limited to a common bond.
  • It's very limited to a common bond.
  • </c> per for the bond per shity Bond correct per for the bond per shity Bond correct correct<00:57:36.880
  • </c> bonding over top of existing bonding bonding over top of existing bonding that<01:08:35.199><c>
Keywords: 958, all
Summary: The committee met with a quorum, approved the minutes, and then reviewed a long agenda of administrative regulations, most of which were advanced with staff-suggested amendments and no objection. Early items included the Kentucky Public Pension Authority’s 105 KAR 1:451, which updates reporting language and adds the contractor wizard for certain employers, and a large package of Board of Veterinary Examiners regulations that revise fees, facility and AHP registration requirements, continuing education, liability, and practice rules. The Board of Speech-Language Pathology and Audiology’s compact-related regulation and the Board of Licensed Professional Counselors’ complaint and compact rules were also reviewed and approved with amendments, along with fish and wildlife rules affecting elk hunting, youth deer season length, bear-dog approvals, and foxhound enclosure permits. The committee also approved transportation, education, workplace standards, horse racing, and several health and human services regulations, including Medicaid waiver reimbursement updates and a child care regulation that sends certain large claims to the Office of Inspector General for review. Several agencies briefly explained their regulations when members asked questions. Fish and Wildlife said the elk population is strong and the baiting change is intended to support harvest monitoring and fair chase, while the longer youth deer season was meant to give young hunters more opportunity. The Department of Community-Based Services said the $10,000 and $5,000 claim thresholds were meant to clarify rare cases involving possible fraud or unresolved recoupment issues. The Department of Financial Institutions’ 808 KAR 5:305 drew the most discussion: it would allow certain state-chartered credit unions with a low-income designation to participate in federal programs, including limited non-member deposits and supplemental capital, but the regulation was deferred again amid continued discussions. The Kentucky Bankers Association testified against the credit union regulation, arguing that allowing non-member deposits conflicts with existing statute limiting credit union deposits to members and other credit unions, and that an administrative regulation cannot override that statutory restriction. Committee members heard the agency’s explanation that the proposal is intended to help underserved communities and that the non-member deposit authority would be limited, but no final action was taken because the item was deferred. The meeting otherwise concluded with the remaining regulations being called, discussed briefly, and approved or advanced without objection.
CA
Transcript Highlights:
  • With respect to the surety bond piece, I know other states do often rely on a surety bond type of concept
  • The surety bond would be the insurance premium, and the bond premium would be paid by the institution
  • Fund claim, I believe the average claim amount is around $12,000.
  • at the Bureau, which would speed up claims.
  • this who has filed a student tuition recovery fund claim I believe the average claim amount is around
Summary: The joint Sunset Review Oversight Hearing focused on the Bureau for Private Post-Secondary Education (BPPE) and its reauthorization, with committee chairs and members emphasizing the Bureau’s role in protecting students, overseeing private postsecondary schools, and responding to a changing federal higher education landscape. BPPE and the Department of Consumer Affairs reported that the Bureau has modernized data systems, improved enforcement, increased citations and inspections, reduced pending complaints, and is now meeting its statutory inspection mandate. They also said the Bureau faces a structural budget deficit and has reduced costs through staffing cuts, streamlined inspections, and shifting some student-relief functions to the Student Tuition Recovery Fund (STRF).
TX

Texas 89th Regular

Insurance Apr 2nd, 2025

Insurance

Transcript Highlights:
  • Very worried about the vagaries of the bond market, especially if you would have to issue multiple bonds
  • of those bonds is over a 10-year period.
  • That money could be used in the CRTF to pay claims.
  • The cost of the claim is not substantial.
  • These are the biggest claims I see, and I've seen a surge in claims on homes over the last four to five
NM
Transcript Highlights:
  • It is one, again, easier for taxpayers to claim for TRD to administer.
  • It allows NMFA to sell bonds that are backed by the existing tobacco tax.
  • It goes in, and all it does is fund the bond. There, it goes in, and all it does is fund the bond.
  • So, unless— ...extend this time, the bond, from 20 to 30 years.
  • And up until recently, that has been sufficient to repay the bonds.
Summary: The committee first heard House Bill 296, which would double New Mexico’s working families tax credit. The sponsor said the bill would increase work incentives, reduce poverty, and could provide families up to about $1,900 more per year, with benefits concentrated among families with children and lower earners. Public testimony from advocacy groups and faith organizations supported the bill. Members asked about foster family eligibility, age eligibility, refundability, and how the credit compared with a prior vetoed proposal. After discussion, a member moved to table the bill, and HB 296 was tabled. The committee then took up the committee substitute for House Bill 77, a tax credit for rehabilitating vacant or blighted buildings into affordable multifamily housing, with at least half of the credit reserved for rural New Mexico. Supporters from housing, business, construction, local government, and advocacy groups said it would expand housing supply, revitalize downtowns and vacant properties, and help rural communities. Members questioned the certification and recertification process, affordability requirements, and the role of the Mortgage Finance Authority. The sponsor asked to roll the bill to Friday so an amendment could be considered, and the committee agreed to roll HB 77 rather than vote on it. House Bill 275, authorizing revenue bonds for Hila Regional Medical Center to replace an aging linear accelerator used for radiation cancer treatment, was heard next. The sponsor and supporters said the equipment is essential for cancer care in southwest New Mexico and that patients would otherwise have to travel long distances for treatment. An amendment extending the bond term from 20 to 30 years was adopted after the New Mexico Finance Authority explained declining tobacco-tax revenues and the need to protect against default risk. The committee then gave HB 275, as amended, a do pass recommendation. Finally, the committee heard House Bill 285, as amended, which clarifies and streamlines the disabled veteran property tax exemption. The sponsor said the bill limits the exemption to a primary residence, clarifies how it applies to multiple owners, and gives veterans more time and clearer procedures to claim or protest the exemption while they await VA certification. County assessors and realtor representatives supported the measure, saying it would reduce administrative confusion and ensure eligible veterans receive the benefit consistently. The committee adopted the bill on a do pass motion. The meeting then adjourned with notice that work would continue on Friday.
WY

Wyoming 2026 Regular Session

House Revenue Committee, February 17, 2026

Revenue

Transcript Highlights:
  • That's whose claim Christian's claim is under. It's not under the state.
  • claim side.
  • of a claim.
  • </c> um damage claim. um damage claim.
  • </c> bond election. bond election.
AZ

Arizona 2026 Regular Session

02/10/2026 - House Commerce

House Commerce Committee of Reference

Transcript Highlights:
  • There are required bond... Interest to make up for its time.
  • It has bonds in place to ensure that the subs and others get paid.
  • market to sell these bonds.
  • My concern is the bonding, because bonds are important to these types of big projects.
  • There is a claim amount that is figured out by ROC, and there's a time frame to dispute that claim.
Summary: The Commerce Committee considered several bills and advanced all of them. House Bill 2174, as a strike-everything amendment, would redefine “advisory organization” as a modeling and data organization and allow insurers to file models with DIFI, with DIFI able to request supporting data to verify compliance. Representative Livingston said the measure was the product of extensive stakeholder negotiations and was technical in nature. The committee adopted the strike-everything and returned the bill with a due-pass recommendation on a 10-0 vote. House Bill 2496 would require construction contracts entered into by revitalization districts to include payment protections allowing contractors to pause or terminate work if the district fails to pay. Supporters said the bill was a fairness measure to prevent contractors and subcontractors from being forced to continue working without payment. Opponents, including bond counsel and the League of Arizona Cities and Towns, argued existing public prompt-pay laws already protect contractors and warned the bill could disrupt financing and delay public infrastructure. After debate, the committee passed the bill 9-1 with one present vote. House Bill 2910 would extend from 10 to 20 days the time a contractor has to contest an ROC recovery fund claim after notice. The sponsor described it as a minor procedural change, and the committee approved it 10-1 with one present vote. House Bill 2938, the “penny bill,” would require Swedish rounding of cash transactions to the nearest five cents when pennies are unavailable, with an amendment clarifying tax calculation and compliance protections. Representative Martinez said the bill was prompted by inconsistent business practices and the need for statewide uniformity; business groups supported it. The committee adopted the amendment and passed the bill with broad support. Finally, House Bill 2744 would authorize the Industrial Commission of Arizona to investigate and adjudicate overtime wage violations at the state level. Supporters from the carpenters’ unions said the bill would provide a faster path for workers to recover unpaid overtime than the backlogged federal process. The Industrial Commission testified it would need additional FTE authority and funding to handle the workload, but not general fund money. Despite some concern about expanding administrative authority, the committee passed the bill 10-1.
MA

Massachusetts 2025-2026 Regular Session

Joint Committee on Consumer Protection and Professional Licensure Jun 21st, 2026 at 10:00 am

Joint Committee on Consumer Protection and Professional Licensure

Transcript Highlights:
  • But giving the AG direct access to the bond will drive the price of that bond through the roof.
  • But the $25,000 bond right now, and you can correct me if I’m wrong, but according to the bond companies
  • but according to the bond companies, there's only been one claim on the Lemon Law in 17 years that it's
  • of new claims coming in, and that drives the price of the bond up.
  • increases the cost on those bonds, I’d appreciate it.
Keywords: 995, all
Summary: The Joint Committee on Consumer Protection and Professional Licensure heard testimony on a wide range of bills involving consumer protection, auto regulation, alcohol licenses, and professional licensure. A major focus was legislation to require a one-hour domestic violence awareness training for salon and cosmetology licensees (H.323/S.200), supported by District Attorney Marion Ryan, law enforcement, and a salon industry witness who described the program’s value in identifying and helping victims. The committee also heard strong support from the Attorney General’s office for auto consumer protection legislation (S.228/H.379) that would expand used-car warranty protections, extend the Lemon Law return period to seven days after receipt of the vehicle, raise the mileage cap to 200,000 miles, and increase dealer surety bonds to $50,000. Independent dealers opposed those changes, arguing they would burden small businesses and that dealer education, not expanded liability, was the better solution. The committee also took testimony on bills related to vehicle financial products and repair information. A trade association supported GAP waiver legislation (H.4188/S.281), saying it would create clear consumer protections and standard disclosures. On right-to-repair and heavy-duty vehicle service information (S.266), engine and truck manufacturers supported an exemption for commercial vehicles, while others argued that releasing service data to the general public could create safety, cybersecurity, and emissions risks. The committee then heard extensive testimony on auto dealer franchise and warranty reimbursement legislation (S.201/H.406), with dealer groups supporting changes to warranty labor reimbursement and manufacturer groups opposing them as costly and unnecessary. Manufacturers from GM, Volvo, Toyota, Hyundai, Mazda, and others said their current time-study and appeals processes already compensate dealers fairly and that the bill would raise costs for consumers. In addition, the committee heard testimony on H.333, which would move auto damage appraiser licensing from the Division of Insurance to the Division of Occupational Licensure. Collision repair advocates supported the change, saying the current board structure leads to repeated dismissals of complaints and lacks accountability, while emphasizing that the bill is intended to protect consumers and ensure proper repair reimbursement. The hearing also included testimony in support of a local alcohol license petition for Westwood and a separate local alcohol measure for a town grant license. At the end of the hearing, the chairs announced that all docketed bills had been heard, noted that a joint poll would be held on H.4184, and the committee voted to adjourn by voice vote.
FL

Florida 2025 Regular Session

October 15, 2025 - 11:30 AM

Transcript Highlights:
  • Is there to pay losses or until the bonds mature?
  • It's our total liquid resources, including the pre-event bond.
  • So those claims may get settle quicker if you're only left with a slab.
  • It Revenue Bond market in initiative emergency assessment to pay back those bonds.
  • And certainly companies can claim is a trade secret.
CA
Transcript Highlights:
  • in lieu of Proposes a surety bond in lieu of STRF.
  • So if that's the case, insurance method, a surety bond...
  • With respect to the surety bond piece, I know other states do often rely on a surety bond type of concept
  • A surety bond would be the insurance premium, and the bond premium would be paid by the institution.
  • Fund claim, I believe the average claim amount is around $12,000.
Summary: The joint Sunset Review Oversight Hearing focused on the Bureau for Private Postsecondary Education (BPPE) and its reauthorization, operations, enforcement, fiscal condition, and student protections. Committee leaders and DCA officials praised the Bureau’s recent improvements in data systems, licensing, inspections, and enforcement, while noting the Bureau’s role has become more important as federal higher education oversight weakens. Bureau Chief Deborah Cochran said the agency has met its inspection mandate for the first time since the law was enacted, increased citations and disciplinary actions, reduced pending complaints, and used data tools to identify risk and monitor institutions more effectively. A major portion of the hearing centered on student harm, especially school closures, transcript access, predatory recruiting, and the Student Tuition Recovery Fund (STRF). Members asked how the Bureau protects students when schools close, whether bad actors can reopen under new entities, and whether enforcement tools are strong enough. Cochran said the Bureau can cite, fine, place schools on probation, revoke licenses, and order refunds, but it is seeking new authority to deny approval to operators who previously closed schools improperly or failed to refund students. She also said the Bureau is tracking ownership data and is concerned about institutions targeting immigrant and visa students. On STRF, Cochran explained that the fund is currently healthy, assessments are at zero because the balance is above the statutory target, and the Bureau paid about 1,100 claims totaling roughly $17 million over the last four years. Several members questioned the fairness of the assessment structure and discussed alternatives such as surety bonds, but the Bureau said STRF is working well and no change is needed at this time. Fee increases and the Bureau’s structural deficit were another major topic. Cochran said the Bureau reduced costs by eliminating positions, streamlining inspections, improving data analysis, and shifting some student-relief costs to STRF, but that legislative action is still needed to address the deficit. She said the proposed fees were based on workload analyses and that application fees generally match service costs, while annual fees are designed to cover most of the Bureau’s revenue needs. Some members and stakeholders criticized the proposed increases as too high, especially for out-of-state registration and campus fees, while others argued the Bureau needs sufficient resources to regulate effectively. Public commenters from private schools, Northeastern University, San Joaquin Valley College/Carrington College, and TICAS generally supported the Bureau’s mission and reauthorization, but urged changes such as risk-based oversight, better transcript protections, stronger limits on repeated provisional approvals, and more targeted fee and STRF reforms. No votes were taken, and the hearing ended with no formal action beyond discussion and receipt of testimony.
AZ

Arizona 2026 Regular Session

02/10/2026 - House Commerce

Commerce

Transcript Highlights:
  • There are required bond... ...interest to make up for its time.
  • market to sell these bonds.
  • My concern is the bonding, because bonds are important to these types of big projects.
  • There is a claim amount that is figured out by ROC, and there's a time frame to dispute that claim.
  • But, of course, more unpaid wage claims on this sense.
NM

New Mexico 2026 Regular Session

House - Taxation and Revenue Feb 11th, 2026 at 08:37 am

House Taxation & Revenue

Transcript Highlights:
  • It is one, again, easier for taxpayers to claim for TRD to administer.
  • It allows NMFA to sell bonds that are backed by the existing tobacco tax.
  • It goes in, and all it does is fund the bond. It goes in, and all it does is fund the bond.
  • So, unless— Extend this time, the bond from 20 to 30 years.
  • And up until recently, that has been sufficient to repay the bonds.
Keywords: 996, all
AL

Alabama 2025 Regular Session

Alabama Senate Judiciary Committee Apr 23rd, 2025

Judiciary

Transcript Highlights:
  • shy bonds far professional bail bonds shy bonds far professional bail bonds shy bonds far outperform
  • , the amounts, the $2,500 bond amounts that add up $2,500 bond amounts that add up $2,500 bond amounts
  • that bond up which effectively lowers that bond.
  • What bonds or reforming the bond system. What bonds or reforming the bond system.
  • So bonds and parcel bonds forever. So bonds and parcel bonds forever.
Bills: HB265, HB146, SB254, HB202, HB3, HB42, SB18
AL
Transcript Highlights:
  • , 2,000 claims, or 12,000 claims.
  • </c> handle and administer all of the claims handle and administer all of the claims that<00:21:38.320
  • or are we going to have 2,000 claims or are we going to have 12,000<00:21:57.520><c> claims?
  • 22:55.120><c> and</c> there's additional claims over and there's additional claims over and beyond<00
  • </c> you know, and 2,000 claims per year. you know, and 2,000 claims per year.
Keywords: 924, joint, all
CA
Transcript Highlights:
  • The most common claims are for bonding with a new child, and about 350,000 workers each year... ...bonding
  • as automatically, we call them a clean claim, a claim that can go through the automated process without
  • of automatically, we call them a clean claim, a claim that can go through the automated process without
  • claim.
  • The effort known as the Integrated Claims Management System will make it easier to manage claims, share
Keywords: 988, house, all
MO

Missouri 2026 Regular Session

Legislative Review Feb 24th, 2026

Legislative Review

Transcript Highlights:
  • And they'll just claim that it's a HIPAA violation. Does that make sense? Yes. Yeah.
  • They just don't collect taxes for it, so it helps their bonding percentage.
  • So it allows school districts to be able to maybe borrow more money against their bonding.
  • Any Chapter 100-owned property that way would be included in the bonding capacity then. Right.
  • But they wouldn't be able to use that property then to pay off that bond.
Summary: The committee met without a quorum at first, then heard testimony on House Bill 2516, which would allow a qualified family advocate to participate in a patient’s care during a 96-hour mental health hold. Representative Burns said the bill is intended to prevent facilities from using blanket HIPAA-based policies to exclude family members who often provide critical background, medication history, and discharge support. Members asked whether the bill assumes incapacity based on detention and whether a doctor could still deny family participation; Burns said the goal is to let physicians permit family input and that the advocacy role would end once the patient is released. No one testified for or against the bill, and the hearing was closed. The committee then heard House Joint Resolution 171, which would count property held in Chapter 100 bond arrangements toward a school district’s bonding capacity even though the property is tax-exempt while under municipal or other government ownership. Representative Faulkner said the change would help districts borrow more and noted an amendment was being considered to include all government entities, not just municipalities. Members raised concern that the proposal would extend school district credit without allowing the district to use the property’s tax revenue to repay the bond, though Faulkner said Chapter 100 projects are temporary and eventually return to the tax rolls. No public testimony was offered. After a quorum was established, the committee entered executive session and voted on House Bill 3205. The motion to do pass the bill was approved 6-0, with six ayes and no noes. The committee also postponed executive action on another measure until the following week, then adjourned.
CA

California 2025-2026 Regular Session

Assembly Appropriations Committee Jun 24th, 2026

Appropriations

Transcript Highlights:
  • And that's what this bond will do.
  • And so, colleagues, I know that bonds are always hard. It's always a negotiation.
  • We urgently need the science and health research bond to protect our future and save lives.
  • We urgently need science and health research bond to protect our future and save lives.
  • And as I mentioned earlier, the bonds, similar to the budget, require... here to present.
Keywords: 988, house, all
KY
Transcript Highlights:
  • unemployment office does not have a brand or a piece of the office that actually would investigate claims
  • </c><00:02:20.720><c> of</c> actually would investigate claims of actually would investigate claims of
  • I believe the incident there was actually some individuals that work there were processing claims but
  • </c><00:10:02.839><c> are</c> these claims are these claims are adjudicated<00:10:04.959><c> Brown</c
  • It's really kind of an industrial revenue bond twist to residential development.
Summary: The committee first took up Senate Bill 162, a measure on unemployment insurance fraud. The sponsor said the bill would create a clearer process for state unemployment staff to refer suspected fraud cases, especially smaller-dollar cases that may not draw federal attention, and would help protect employers and the integrity of the unemployment system. Testimony from Brian Sikma supported the bill as a common-sense anti-fraud proposal, but several senators raised concerns that suspending benefits during an investigation could unfairly burden claimants, especially if the claim later proves legitimate. The sponsor and witness said the bill was intended to allow quick adjudication and that benefits could be reinstated after review, and the sponsor noted the referral process would include identifying information and details about the suspected fraud. The committee then voted on the bill; it passed with favorable expression, 8-1, and was sent to the floor. The committee then returned to Senate Bill 1, which would create a Kentucky Film Office and Film Commission and fund the office with a portion of the state transit tax and production-related fees. Senator Wheeler and invited guests described the bill as an economic development and tourism measure meant to expand Kentucky’s film industry, attract productions statewide, and build on existing tax credits. Witnesses, including Mary K. Po... and Misty Wrigley Miller, said a state film office would help market locations, provide a searchable database for producers, and make it easier for rural communities to compete for productions. They cited an economic impact study showing about $200 million in film-related economic activity in 2022, with additional ripple effects and tax revenue, and argued the office would help create jobs and workforce opportunities for Kentuckians. Members generally praised the concept of Senate Bill 1 and compared Kentucky’s potential to Georgia’s film industry growth. Witnesses said Kentucky already has strong incentives but needs a dedicated office and commission to better promote the state and coordinate production activity. The discussion emphasized that the commission would help ensure a return on investment and that local crews and businesses would benefit from more productions. The transcript ends during continued discussion of the bill and questions from senators, with no final vote on Senate Bill 1 shown in the excerpt.