Video & Transcript : 'fiduciary' :
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CA
Transcript Highlights:
- We are, as public servants, fiduciaries to the public. We hold their funds. We hold their trust.”
Committee:
Senate Rules
Summary:
The Senate Committee on Rules first took up several governor’s appointments not required to appear, including Rick Simpson to the Commission on Teacher Credentialing and Trinidad Solis, M.D., and Gerald Talbert, M.D., to the Medical Board of California. The committee also approved reference of bills to committees and floor acknowledgments, with roll calls on each item showing unanimous support from members present and the items left open for additional votes before final tallying.
The main public business was the confirmation hearing for George Cardona, J.D., for a second term as Chief Trial Counsel of the State Bar of California. Cardona described reforms made since taking office, including new conflict-of-interest and gift rules, stronger investigative requirements, efforts to reduce backlog and improve efficiency, and monitoring of discipline disparities identified in prior studies. Senators questioned him about safeguards after the Girardi matter, the John Eastman discipline case, racial and ethnic disparities in attorney discipline, unauthorized practice of law by notarios, staffing shortages, and the use of AI in filings. Public witnesses from the State Bar, SEIU Local 1000, and others spoke in support. The committee voted 3-0 to advance Cardona’s appointment to the full Senate.
The committee then heard Laura Enderton Speed, J.D., for Executive Director of the State Bar. She said her priorities would be restoring public trust, improving the discipline system, addressing the February 2025 bar exam problems, and strengthening fiscal stability and internal controls. Members asked about the State Bar’s structural budget deficit, the remote administration failures in the February exam, safeguards against undisclosed gifts and conflicts, and the status of audits and investigations. Supporters from the State Bar, the civil defense bar, SEIU Local 1000, and a longtime colleague testified in favor. The committee approved her appointment 5-0 to move to the full Senate. At the end of the meeting, members also approved the remaining governor’s appointments and procedural items, and the chair thanked Senator Jones for his service on the committee before adjourning the public portion.
CA
Transcript Highlights:
- We are, as public servants, fiduciaries to the public. We hold their funds, we hold their trust.
Committee:
Senate Rules
Summary:
The Senate Committee on Rules established a quorum and first approved several items without required appearances, including the appointments of Rick Simpson to the Commission on Teacher Credentialing and Trinidad Solis, M.D., and Gerald Talbert, M.D., to the Medical Board of California, along with references of bills to committees and floor acknowledgments. The committee then heard testimony on two State Bar of California appointments requiring appearance: George Cardona, J.D., for Chief Trial Counsel, and Laura Enderton Speed, J.D., for Executive Director.
Cardona described his first four years as chief trial counsel, emphasizing reforms after the Girardi matter, including stronger conflict-of-interest and gift rules, tighter trust-account investigations, more data tracking, and efforts to reduce case backlogs and discipline disparities. Senators questioned him about the John Eastman disbarment case, the office’s role and jurisdiction, racial and Latino discipline disparities, unauthorized practice of law by notarios, staffing vacancies, and the use of AI in pleadings and internal work. Public witnesses from the State Bar, SEIU Local 1000, and others supported his confirmation, and the committee voted 3-0 to advance his appointment to the full Senate.
Enderton Speed said she sought the executive director role to help restore public trust, strengthen discipline and admissions, and address the February 2025 bar exam problems. Senators asked about the State Bar’s budget deficit, hiring freeze, long-term fiscal stability, the bar exam audit and litigation, safeguards against conflicts and gifts, and the decision to move the February exam largely remote before returning to in-person administration for July. Public witnesses also supported her confirmation, citing leadership, accessibility, and a focus on core functions. The committee voted 5-0 to advance her appointment to the full Senate. The meeting ended with remarks honoring Senator Jones on his final day on the committee and a cake presentation before adjournment to executive session.
CA
Transcript Highlights:
- We are, as public servants, fiduciaries to the public. We hold their funds. We hold their trust.
Committee:
Senate Rules
OK
Oklahoma 2026 Regular Session
Health and Human Services Oversight REVISED: SB640, SB1502 and SB1562 - Added Apr 13th, 2026 at 03:00 pm
Health and Human Services Oversight
Transcript Highlights:
- We've put fiduciary in 50 bills over the last seven years, and it got... ...struck out of every single
Bills:
SB206 , SB640 , SB667 , SB1344 , SB1380 , SB1423 , SB1425 , SB1436 , SB1484 , SB1500 , SB1502 , SB1503 , SB1557 , SB1562 , SB1572 , SB1644 , SB1645 , SB1794 , SB1796 , SB1806 , SB1849 , SB1984 , SB2007 , SB2074
Committee:
House Health and Human Services Oversight
Keywords:
SB206, emergency medical services, EMS, ambulance, 911 response, emergency response, essential services, federal funding, grant funding, public health, health care facility, municipality, county, ambulance service district, tribal entity, public entity, contract ambulance service, Oklahoma, 63 O.S. 2021 Section 1-2502, emergency clause
WA
Washington 2025-2026 Regular Session
Senate Floor Session Mar 9th, 2026 at 02:45 pm
Washington Senate Floor Meeting
Transcript Highlights:
- They also restated a policy that is already part of the Social Security Administration's policy on fiduciary
MO
Transcript Highlights:
- It's about fiduciary accountability.
Committee:
House Veterans and Armed Forces
Summary:
The committee met with a quorum and first went into executive session, where it adopted committee substitutes and voted do pass on House Bills 383, 2940, and 1869 by unanimous roll-call votes. The chair then moved to public hearings and announced shortened testimony times because of the late hour.
A large portion of the hearing focused on several nearly identical proposals to provide property tax relief to disabled veterans and, in some versions, surviving spouses. Representatives Jobe, Crosley, Bolerking, Schmidt, and Jones described different approaches: tiered exemptions based on VA disability ratings, homestead-based exemptions, county opt-in or opt-out provisions, sunsets, and in some bills relief tied to assessed value or personal property/vehicle taxes. Committee members raised questions about acreage limits, transfer of benefits to new residences, remarriage of surviving spouses, annual recertification, and whether counties should have discretion. Several witnesses in favor, including veterans and veterans’ advocates, urged broader eligibility, especially for 100% permanent and total veterans and those with individual unemployability, and argued the benefit would help veterans remain in Missouri. A public advocate opposed the bills on fiscal grounds, citing large projected costs to local governments, school districts, and state funds.
The committee also heard testimony from veterans and advocates on the importance of recognizing spouses and families, and on the need to avoid burdensome county administration. Representative Schmidt presented two related bills, one offering a percentage-based property tax discount and another creating a homestead tax credit with county participation and a market-value cap; members discussed combining the measures and revising sunset and spouse language. Representative Jones presented bills extending relief to 100% disabled veterans and to personal property/vehicles, emphasizing that counties could opt in and that the credit should not shift costs to other taxpayers. The hearing ended before the final witness finished, and the committee adjourned.
MO
Transcript Highlights:
- It's about fiduciary accountability.
Committee:
House Veterans and Armed Forces
MO
Transcript Highlights:
- more answers to it through the conversation here, is really ultimately the General Assembly has the fiduciary
WA
Washington 2025-2026 Regular Session
House Civil Rights & Judiciary Feb 25th, 2026
Transcript Highlights:
- Similarly to a fiduciary responsibility, if I was on the board of directors and there's a company, you
Summary:
The Civil Rights and Judiciary Committee held a public hearing on House Bill 2735, the “Troxel 2” bill relating to establishing a constitutional floor in family law cases. Staff explained that the bill would add legislative findings and intent to Chapter 26.09 RCW, emphasizing parental fitness, equal standing for similarly situated parents, and a duty to cooperate. The prime sponsor and public testifiers largely supported the bill, arguing that family courts too often restrict fit parents’ access to children without sufficient due process and that the bill would restore constitutional protections and reduce conflict. Some testimony also framed the proposal as a way to improve child safety, stability, and outcomes. No action was taken on the bill during the hearing.
The committee then moved into executive session on multiple bills. It advanced bills on garnishment forms (ESSB 5865), child hearsay/testimony rules (SSB 5169, amended), immigration-enforcement policies for health care and related facilities (ESSB 5906, amended), compensation claims for wrongly convicted persons (SSB 5520), reinstating the Indigent Defense Task Force (ESSB 5912), preserving streamlined administrative and land-use review procedures (SSB 6009), authorizing court security threat assessments (ESSB 6086), adding superior court judges in Skagit and Yakima counties (SB 5868), requesting reinstatement of the limited license legal technician program (SJM 8006), expanding personality rights to digital likenesses (SSB 5886), and liability protections for certain children’s item donations, including car seats (ESSB 6087). Several bills were amended before passage out of committee.
Votes were recorded on each measure, with most passing on strong bipartisan margins. Notable split votes occurred on SSB 5169 and ESSB 5906, reflecting concerns about balancing child protection, due process, and immigration-related enforcement issues. The committee concluded by thanking staff and adjourned after reporting all listed executive-session bills out of committee with do pass recommendations, some as amended.
AZ
Arizona 2026 Regular Session
02/19/2026 - Senate Health and Human Services
Health and Human Services
Transcript Highlights:
- sure those who are advising patients are licensed brokers or navigators, so they're acting in a fiduciary
Bills:
HB2408 , HB2434 , HB2725 , HB2728 , HB2729 , HB2730 , HB2731 , HB2732 , HB2733 , SB1192 , SB1398 , SB1399 , SB1494 , SB1557 , SB1813 , SB1821
Keywords:
controlled substances, prescription monitoring, opioid crisis, healthcare regulations, patient safety, prescription drugs, opioids, healthcare, pain management, utilization controls, AHCCCS, Department of Economic Security, social services, welfare programs, vocational rehabilitation, employment services, developmental disabilities, Arizona Revised Statutes, occupational therapy, board regulation
MO
Missouri 2026 Regular Session
Economic Development Feb 3rd, 2026
Joint Committee on Rural Economic Development
Transcript Highlights:
- So everybody understands the duties and obligations and the fiduciary responsibilities everyone has.
Summary:
The committee first heard House Bill 2508, which would clarify that Missouri series LLCs may obtain standalone certificates of good standing from the Secretary of State and be individually listed on the Secretary of State’s website. Representative Chris Brown said the bill is intended to remove uncertainty created by a newer interpretation of the law and help Missouri businesses operate in other states. Committee members and witnesses from law and business groups generally supported the measure, emphasizing transparency, easier verification of entities, and reduced barriers to interstate business. No opposition was offered, and the hearing on HB 2508 was closed.
The committee then heard House Bill 2517, which would require real estate wholesalers to provide a written disclosure before contracting with a seller, stating that they are acting as a wholesaler, do not represent the seller, may assign the contract, and encouraging the seller to seek legal counsel. Representative Brown described the bill as a consumer protection measure aimed at preventing deceptive practices that can harm distressed homeowners, seniors, heirs, and first-time sellers. Members raised questions about whether the disclosure should be more prominent and whether the bill would affect legitimate investors. Brown and several supporters said the bill targets bad actors without restricting legitimate transactions.
Testimony on HB 2517 was mixed but broadly supportive of disclosure. The Missouri Association of Realtors, the Missouri Chamber, and several wholesalers and homebuyers supported the bill’s transparency requirements, while warning that overregulation could hurt the market for distressed and blighted properties. Supporters described wholesalers as important to moving off-market homes into the hands of rehabbers and argued that disclosure helps ensure sellers understand the transaction. One witness said the Senate companion bill had been amended to require disclosure 14 days before contracting and to make Attorney General enforcement discretionary, which would eliminate the fiscal note, though some witnesses said the 14-day requirement could burden sellers in urgent situations. The hearing on HB 2517 was then closed, with no votes taken during the meeting.
WA
Washington 2025-2026 Regular Session
Joint Higher Education Committee Dec 3rd, 2025 at 10:30 am
Joint Higher Education Committee
Transcript Highlights:
- mainframe system, and we went live on Workday in January 2021 with the hope of continuing to meet our fiduciary
Committee:
Joint Joint Higher Education Committee
Summary:
The Joint Higher Education Committee met with introductions from members and then held a work session on higher education and statewide accounting practices. OFM Deputy Director Sarah Rupp explained how state and university accounting/reporting differ, including current AFRS/SAM requirements and the transition to Workday/WAM, and described what higher education data are currently included in state reporting versus what will remain excluded, such as transaction-level detail and vendor payment information. University of Washington and Washington State University officials then described the complexity of their institutions’ financial structures, including multiple campuses, auxiliary enterprises, component units, hospitals, clinics, bonds, and other reporting obligations, and how they submit summarized data to the state while maintaining more detailed local accounting systems. The Education Research and Data Center also presented the public four-year finance dashboard created under Senate Bill 5512, emphasizing that the metrics are best used to examine trends within institutions rather than direct comparisons across schools; members asked about data availability and federal reporting delays, and ERDC said it was on track to update the dashboard with newer data and additional metrics.
The committee then heard a presentation from the Washington Student Achievement Council on the Workforce Education Investment Account (WIA). Joel Anderson reviewed WIA’s creation under House Bill 2158, its revenue sources, and its intended purpose of supporting postsecondary attainment, high-demand fields, student aid, and workforce education. He said WIA revenue has grown substantially, especially after recent tax changes, and noted that most current appropriations go to higher education, including the Washington College Grant, community and four-year institutions, and some workforce-related programs. Members asked whether WIA supports apprenticeships and trades, and Anderson said it has in some cases, though nearly all current appropriations are now within higher education.
Anderson also highlighted a major policy shift in the 2025-27 budget: WIA is now being used to supplant some general-fund higher education spending, especially a large transfer for University of Washington general operations. He said this has reduced the general fund share of higher education funding and increased the share from WIA, raising concerns about whether the account is still being used as originally intended. He also described how WIA is increasingly covering Washington College Grant caseload growth and faculty compensation costs, and said WSAC is working to improve public documentation of ongoing and carry-forward appropriations. The committee did not take any substantive votes on the presentation topics and then moved toward executive session and adjournment.
WA
Washington 2025-2026 Regular Session
Joint Higher Education Committee Dec 3rd, 2025
Joint Higher Education Committee
Transcript Highlights:
- And we went live on Workday in January 2021 with the hope of continuing to meet our fiduciary responsibility
Committee:
Joint Joint Higher Education Committee
Summary:
The Joint Higher Education Committee met for a work session on higher education accounting practices and financial transparency. OFM Deputy Director Sarah Rupp explained how state accounting rules and higher education reporting differ, including what data is captured in AFRS today and what will move into Workday, with universities generally reporting summary-level fund data, mandatory codes, and most balance sheet and income statement activity, but not transaction-level detail or vendor payment information. Representatives from the University of Washington and Washington State University described the complexity of their own accounting systems, the many entities and business lines they must track for audits and compliance, and the need to reconcile university-level accrual accounting with state reporting requirements. The committee also heard from the Education Research and Data Center on the public four-year finance dashboard created under Senate Bill 5512; ERDC said the dashboard is based on publicly available data, is best used to examine institutions individually rather than compare them directly, and will be updated with additional metrics in 2025 and 2026.
The committee then received a presentation from the Washington Student Achievement Council on the Workforce Education Investment Account (WIA). Joel Anderson reviewed WIA’s creation under House Bill 2158, its revenue sources, and its intended uses for higher education, financial aid, and workforce development. He said recent legislation significantly increased WIA revenues and that, in the 2025–27 budget, the account is being used in new ways, including to replace general fund support for University of Washington operations and to fund a larger share of the Washington College Grant and some faculty compensation costs. Anderson said roughly 98% of current WIA appropriations go to higher education, but the share used to supplant other higher education funding has grown, and he estimated about 60% to 70% of current spending still aligns with the account’s original intent. He also described a new effort to track WIA appropriations across biennia in more detail and noted the WIA Oversight Board’s role in recommending uses of the account and monitoring outcomes. No votes were taken; the committee ended by moving into executive session for staffing issues and then adjourned.
WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy Jun 17th, 2025 at 10:00 am
Select Committee on Pension Policy
Transcript Highlights:
- In response, New York City is doing what responsible fiduciaries must do.
Committee:
Joint Select Committee on Pension Policy
Summary:
The Select Committee on Pension Policy met on June 17, 2025, with Vice Chair Fitzgibbon presiding initially in Chair Benke’s absence. The committee approved the May minutes and then held its annual election of officers. Representative Travis Couture was elected chair, Senator Steve Conway was elected vice chair, and the executive committee seats were filled by Member Yistramski for actives, Bev Hermanson for retirees, and Anthony Murrietta for employers. The committee also recognized Pat Thompson for her long service and upcoming departure from the committee.
Staff then briefed the committee on Engrossed Substitute Senate Bill 5357, which changed pension funding by increasing the assumed long-term investment return from 7% to 7.25%, lowering normal cost contribution rates, suspending Plan 1 UAAL contributions for four years, and extending the amortization period for Plan 1 benefit improvements from 10 to 15 years. The Office of the State Actuary explained that the bill produces significant short-term budget savings but increases the risk of higher contribution rates later if investment experience underperforms. Members asked about the suspension of Plan 1 UAAL rates and the implications for future rates and funding risk.
The committee also received an introduction to the required study of proposed LEOFF 1 merger and termination legislation under the 2025-27 operating budget proviso, covering Substitute Senate Bill 5085 and Substitute House Bill 2034. Staff outlined the study plan, including legal, tax, actuarial, administrative, and pension policy analysis, with input expected from the Attorney General’s Office, Ice Miller LLP, the Office of the State Actuary, DRS, the State Investment Board, and the State Treasurer. Members discussed the unusual issue of an overfunded plan and possible IRS implications. Public testimony was split, with some speakers supporting a merger as a way to create room for a Plan 1 COLA and others opposing any diversion of LEOFF 1 assets, citing legal, tax, and member-rights concerns. The meeting adjourned before the scheduled executive session.
TX
Texas 89th Regular
Criminal Jurisprudence S/C New Offenses & Changed Penalties Apr 15th, 2025
Transcript Highlights:
- What is expected of the public itself must be higher with professional authority, and fiduciary duty
FL
Florida 2025 Regular Session
March 25, 2025 - 12:00 PM
Transcript Highlights:
- It defines the term persons as individuals, various business entities, legal representatives, fiduciaries
Summary:
The committee heard five housing- and resilience-related bills. HB 793 would create an International Aerospace Innovation Fund administered by Space Florida to support aerospace research, workforce development, and commercialization; it was amended with a clarifying change and passed unanimously. C.S. for HB 411 would extend an affordable housing property tax exemption to certain nonprofit projects on leased land through a housing finance authority, such as Habitat for Humanity projects; it also passed unanimously. HB 701 would require local housing assistance plans to allow mobile home owners on leased land to seek help with lot rent, and it passed unanimously after an amendment and testimony from mobile home advocates and AARP in support.
The committee also considered C.S. for HB 393, which expands the My Safe Florida Condominium Pilot Program to help eligible condominiums fund hurricane mitigation projects, including roof-related work, with added eligibility and inspection requirements. The bill drew support from condo and housing groups and passed unanimously with committee substitute. The final and most extensive measure, HB 943, would significantly revise state land-use and development rules to promote affordable housing by limiting local restrictions, changing zoning and approval standards, adjusting parking and impact fee rules, and expanding accessory dwelling unit and mixed-use provisions. It generated extensive testimony, with many local officials, city and county groups, and preservation advocates opposing it as overly broad and preemptive, while housing and business groups supported it.
HB 943 was amended several times during the meeting, including changes related to church-owned property, parking, historic landmarks, manufactured homes as accessory dwelling units, and fair housing language. The sponsor repeatedly said the bill was a work in progress and that additional changes would be made. After debate from members emphasizing both the need for more housing and the need to preserve local control, the committee approved HB 943 on a 14-1 vote, with Rep. Casello voting no.
FL
Florida 2025 Regular Session
Military and Veterans Affairs, Space, and Domestic Security Feb 18th, 2025
Transcript Highlights:
- AS IT MATURES IN ITS EXISTENCE WE HAVE A FIDUCIARY RESPONSIBILITY TO OVERSEE THE OUTCOMES OF THE FOUNDATION
MD
Transcript Highlights:
- Senate Bill 131, Estates and Trusts, Fiduciaries, Attorney-Client Privilege.
- Senate Bill 131, estates and<01:37:01.520><c> trusts,</c><01:37:01.960><c> fiduciaries,</c><01:37:02.800
- ><c> attorney-client</c> and trusts, fiduciaries, attorney-client and trusts, fiduciaries, attorney-client
WY
Transcript Highlights:
- But ultimately they have a fiduciary responsibility or they have a board of directors that they're beholden
- 30:41.120><c> a</c> ultimately they're they're they have a ultimately they're they're they have a fiduciary
- :30:42.480><c> or</c><01:30:42.719><c> they</c><01:30:42.880><c> have</c><01:30:42.960><c> a</c> fiduciary
- responsibility or they have a fiduciary responsibility or they have a board<01:30:43.280><c> of</c><
Committee:
Joint Appropriations
KY
Kentucky 2025 Regular Session
Consensus Forecasting Group (12-16-25)
Transcript Highlights:
- Fiduciary grew an astounding 2.5%. Now remember, fiduciary is usually negative throughout the year.
- So an increase of $2.4 million is a very large amount for fiduciary.
- Uh, the fiduciary forecast is moderated and tapering in the fiscal years.
Summary:
The meeting focused on reaching consensus on official Kentucky revenue estimates for fiscal years 2026 through 2028, using updated S&P Global economic forecasts compared with the September presentation. Staff explained that the updated forecast relied partly on alternative data because of the federal government shutdown, and they walked through changes in national and Kentucky economic assumptions across control, optimistic, and pessimistic scenarios. The control forecast was described as slightly more optimistic in the near term but more cautious in fiscal 2027 and 2028, with GDP growth revised up for the current year and down somewhat in the outer years. The pessimistic scenario now assumed a two-quarter recession beginning in the current quarter, while the optimistic scenario was given a higher probability weight than before.
The presenters highlighted several Kentucky-relevant variables that changed since September, including weaker manufacturing employment, weaker housing starts, weaker consumer sentiment, and lower expected non-farm employment in fiscal 2026. At the same time, wage and salary disbursements were revised upward in fiscal 2027, reflecting higher disposable income from tax changes, and real consumer spending was expected to be stronger in the near term. They also discussed assumptions about tariffs, business profits, the Federal Reserve, unemployment, oil prices, retail sales, vehicle sales, exports, and consumer sentiment, noting that some indicators were little changed while others shifted materially. Consumer sentiment was attributed to affordability concerns, tariff impacts, and a general sense of malaise, but was expected to improve in later years from a low base.
Members asked follow-up questions about why the forecast worsened in later years and about the consumer sentiment assumptions. Staff responded that the forecast assumed larger take-home pay and refunds from tax withholding changes, along with some easing of tariff effects, which they believed would help offset a negative wealth effect from stock market declines. They also noted that S&P Global’s December forecast, which had already been published, was essentially consistent with the presentation and that the firm believed its earlier assumptions had tracked recent data well. No vote or final action was recorded in the portion provided, but the discussion was aimed at settling the revenue estimates that will underpin the upcoming branch budget bills.