Transcript Highlights:

• I've worked with nonprofits across the United States to push back against financial firms, banks, broker-dealers
• I've also served as the first Cambodian woman commissioner on CAPAA, the Commission on Asian Pacific
• I've also served as the first Cambodian woman commissioner on CAPAA, the Commission on Asian and Pacific

Bills: HB2095 , HB2500 , HB2412 , HB2595 , HB2354 , HB2597

Committee: House Civil Rights & Judiciary

Keywords: public safety, vulnerable users, pedestrians, protected classes, transportation, charitable organization, charity, nonprobate transfer, beneficiary designation, life insurance, retirement account, payable on death, POD account, transfer on death, TOD, financial institution, insurance company, transfer agent, estate planning, donor intent

Transcript Highlights:

• I've worked with nonprofits across the United States to push back against financial firms, banks, broker-dealers
• I've also served as the first Cambodian woman commissioner on CAPAA, the Commission on Asian Pacific
• I've also served as the first Cambodian woman commissioner on CAPAA, the Commission on Asian Pacific

Summary: The committee held public hearings on several bills. On House Bill 2354, relating to common interest communities under WUCIOA, staff explained that the proposed substitute would exempt small middle-housing communities from most WUCIOA provisions, exempt certain middle-housing communities from reserve studies if wastewater-related reserve components are not needed, raise the audit threshold from $50,000 to $100,000 in annual assessments, and prevent governing documents from shifting maintenance costs for EV chargers and heat pumps away from the unit owner. Representative Reed and a Community Associations Institute witness supported the bill as a set of cleanup changes tailored to smaller communities, and there were no questions or opposition noted. The committee then heard House Bill 2412, which would add a ninth Superior Court judge in Yakima County. Representative Mendoza and Yakima County officials and judges testified that the county has had eight judges since 1998 despite major population growth, rising filings, and a backlog of more than 2,800 cases older than two years. They said the county can accommodate the new judge physically and has budgeted its share of the cost. The bill was supported as a way to reduce delays, protect speedy-trial rights, and improve access to justice, and the hearing was closed without opposition testimony. House Bill 2500, concerning transfers of beneficiary-designated property to charities, would require holders such as financial institutions or insurers to notify charitable beneficiaries within 10 days of the owner’s death, allow charities to submit an affidavit to claim the property, require transfer within 30 days, and bar holders from demanding personal information or requiring charities to open accounts or wait on other beneficiaries. Charitable organizations strongly supported the bill, describing long delays and invasive paperwork, while credit unions and bankers raised concerns about identity verification, fraud risk, and the 30-day deadline. The committee then heard House Bill 2595, which would extend the time limit for collateral attacks on criminal judgments from one year to three years and allow the Office of Public Defense to provide direct representation in those matters. Supporters, including incarcerated individuals, defense-related advocates, and the League of Women Voters, argued the current deadline is too short for pro se prisoners and juvenile offenders to discover and litigate claims; prosecutors and victim advocates opposed it, citing finality, workload, and harm to victims. Finally, House Bill 2597 would create a state civil cause of action for violations of federal constitutional rights during civil immigration enforcement, with damages, fees, and a three-year limitation period. The sponsor and supporters framed it as an accountability measure for constitutional violations, while law enforcement and other opponents warned about unclear definitions, immunity issues, and unintended consequences. The hearing on HB 2597 was concluded, and the committee noted an executive session on the bill would occur later.

Transcript Highlights:

• Vice Chair and members, House Bill 2680 requires the Industrial Commission of Arizona to maintain a database
• So I hope that answers the question, and just based on feedback with the Industrial Commission, we didn't
• She said she is a real estate broker, a victim, has an MBA, is a recent breast cancer survivor, and is
• So I know you're an honest broker, and I'm hoping we do that once it gets engrossed and it gets out of
• I represent the Independent Insurance Agents and Brokers of Arizona, who are in support of this bill.

Committee: House House Commerce Committee of Reference

Summary: The Commerce Committee heard and passed several bills dealing with insurance fraud funding, education scholarships, apprenticeships, workers’ compensation fraud, credit unions, manufactured home installation licensing, short-term rentals, homeowners associations, condo disclosures, and an advanced manufacturing infrastructure reimbursement program. HB 4020 would raise the annual insurer assessment cap for the Department of Insurance and Financial Institutions fraud unit from $1,050 to $1,350; it passed after testimony from Nationwide supporting the added resources. HB 2255 would extend Arizona Teachers Academy scholarship eligibility for community college students from two academic years to four, and HB 2591, as amended, would revise the definition and requirements for registered apprenticeships under DES standards; both passed unanimously. HB 2680, as amended, would narrow and clarify workers’ compensation fraud-related provisions and insurance disclosure requirements, and HB 2979, as amended, would modernize credit union bylaws, name changes, and operating powers; both also received due pass recommendations. HB 2868, which adds insurance and fingerprint-clearance requirements for manufactured home/mobile home installation licensees and gives the Department of Housing additional licensing authority, passed with some members present or voting no. The committee also took up HB 2429, a strike-everything amendment on short-term rentals that would let local governments set occupancy limits, extend the violation window for suspension actions from 12 to 24 months, and allow suspension after certain building code violations. The sponsor and city officials described it as a compromise giving communities more local control, while short-term rental owners and neighborhood advocates raised concerns about overbroad enforcement and the scale of the housing impacts; the bill passed 8-2 with one present. HB 4011, which would codify duties for condominium and planned community associations to act reasonably and provide access to information, was heard without the proposed Carter amendment and passed 11-0 after testimony from homeowners, attorneys, and HOA representatives about fairness and enforceability. HB 2397, another HOA-related bill, would expand disclosure requirements for condo and association purchases and escrow information; it passed unanimously after supporters said it would improve consumer transparency. Finally, the committee heard HB 4026, which would change the public infrastructure reimbursement program for advanced manufacturing projects by replacing the current statewide cap with a $75 million annual cap and requiring more transparency for related agreements. Supporters, including Queen Creek’s mayor, GPEC, and the Arizona Chamber, said the program helps fund roads, water, wastewater, and other infrastructure needed to attract large manufacturing investments and jobs, while some members questioned the budget impact and whether the program benefits rural areas. The discussion emphasized projects such as LG in Queen Creek and other major manufacturing investments, with supporters arguing the bill preserves Arizona’s competitiveness and generates long-term tax revenue.

Transcript Highlights:

• There's brokers that get involved in churning policies so they get you to switch from policy to policy
• potentially offer multi-year programs for seniors because that would save some of the money that the brokers
• Some brokers do a great job, some don't. We probably have too many.

Committee: Senate Finance Committee

Keywords: Michael Falkender, Deputy Secretary of the Treasury, IRS, taxpayer privacy, nomination process, committee hearing

Summary: The committee convened to discuss critical issues surrounding the nomination of Michael Falkender for the position of Deputy Secretary of the Treasury. This meeting included a series of remarks from committee members who expressed divergent views on Falkender's qualifications and the implications of his appointment. Senator Wyden voiced strong opposition, arguing that Falkender represents harmful policies expected to be perpetuated under the current administration, especially concerning taxpayer privacy and IRS tactics. Meanwhile, other members defended Falkender, noting his extensive experience, including a commitment to transparency in government operations if confirmed.

Transcript Highlights:

• is 6045, placing agriculture employees under the jurisdiction of the Public Employment Relations Commission
• is 6045 placing agriculture employees under the jurisdiction of the Public Employment Relations Commission
• Placing agricultural employees under the jurisdiction of the Public Employment Relations Commission.
• unemployment, the underground economy task force identified more targeted solutions, regulating labor brokers

Bills: SB6053 , SB6134 , SB6147 , SB6106 , SB6045 , SB6135 , SB6128 , SB6282 , SB6068 , SB6303 , SB6290

Committee: Senate Labor & Commerce

Keywords: SB 6053, domestic workers, domestic worker rights, labor protections, minimum wage, overtime, private household employment, nanny, home care worker, personal care provider, housekeeper, cleaner, cook, gardener, household manager, wage theft, retaliation, anti-discrimination, immigration status, privacy rights

Transcript Highlights:

• The last five law revision commissions have audits have suggested to the commission that we needed to
• In this industry, the California State Athletic Commission is the only... Thank you.
• It's a special funded commission that runs on a shoestring.
• In this industry, the California State Athletic Commission is the only Thank you.
• It's a special funded commission that runs on a shoestring.

Summary: The Assembly Business and Professions Committee heard a long agenda of bills, with several cannabis-related measures drawing the most testimony. AB 1598 would extend and standardize licensing timelines for behavioral health professionals, AB 1850 would clarify that real estate wholesalers are subject to licensure and disclosure rules, AB 1794 would allow enteral formula to be shipped directly to patients’ homes, and AB 2402 would update an old cap on fees for multi-service health club studios. The committee also heard AB 1990 on compounded GLP-1 drugs, AB 2249 on cannabis packaging attractive to children, AB 2532 on cannabis beverage serving sizes, AB 2537 on prioritizing cannabis enforcement, and AB 1826 on due process protections for cannabis businesses facing embargoes or recalls. Testimony was generally split between public health or consumer-protection advocates and industry representatives. Supporters of the cannabis bills argued for clearer rules, better consumer safety, and more predictable enforcement, while opponents warned that some proposals could overreach, burden compliant businesses, or restrict legitimate branding and access. On AB 1990, supporters said compounded GLP-1 products need stronger testing and truthful advertising, while pharmacists and compounding advocates said existing law already covers much of the conduct and that the bill could create access problems. On AB 2249 and AB 2532, public health witnesses emphasized risks to children and accidental overconsumption, while industry groups sought narrower language and more implementation time. The committee took several roll-call votes after quorum was established. AB 2249, AB 1826, AB 2402, AB 1794, and AB 2532 were all approved and sent to Appropriations, and AB 1826 was sent to Judiciary. The chair and members repeatedly noted accepted committee amendments and, in several cases, said they were prepared to support the bills with those amendments. Some measures were left open or held pending further action as the hearing continued.

Transcript Highlights:

• is<00:28:30.399><c> already</c><00:28:30.640><c> a</c><00:28:30.799><c> stock</c><00:28:30.960><c> broker
• </c><00:28:31.360><c> he</c><00:28:31.520><c> makes</c><00:28:31.679><c> a</c> is already a stock broker
• and he makes a is already a stock broker and he makes a lot<00:28:31.840><c> of</c><00:28:31.919><c>
• I sit on the New Hampshire Traffic and Safety Commission representing motorcyclists, and I'm also on
• </c> Traffic and Safety Commission Traffic and Safety Commission representing<02:12:16.679><c> motorcyclists

Committee: Senate Commerce

Transcript Highlights:

• He has a company where he brokers freight, which a lot of the owner-operators that he deals with are

Committee: House Business

Transcript Highlights:

• She said they have created a FAQ of questions that their members and brokers had, and they sent it to
• She said the FAQ of questions that their members and brokers had was sent to the tax department before
• I've lived this, as you know, Stephanie, for 30 years on the Wilson City Commission, and she's right.
• I've lived this, as you know, Stephanie, for 30 years on the Wilson City Commission, and she's right.
• it was not atypical that we didn't use reserves years on the city commission, it was not atypical that

Summary: The committee met to continue its tax reform and relief study agenda, approved the December 3, 2025 minutes, and announced a new subcommittee to examine property tax statement issues with counties, auditors, and the tax office. Representative Headland was named chair, Senator Rummel vice chair, and Representatives Dressler and Dr. Dr. and Senator Patton were also assigned. The chair noted the group may need an additional meeting and thanked staff and attendees. A major portion of the meeting focused on economic development incentives. The Department of Commerce presented on the Renaissance Zone program and TIF districts, describing Renaissance Zones as locally tailored tools that combine local property tax relief with state income tax incentives. Commerce said the program has supported thousands of projects since 1999 and cited examples from Beach and Mandan showing increases in property and taxable value, business retention, housing, and downtown revitalization. Committee members raised concerns that smaller rural communities often lack the staff and expertise to apply, and Commerce said it provides outreach through conferences, office hours, and one-on-one assistance. League of Cities and local officials from Bismarck and Ellendale echoed the capacity issue, discussed how the programs have worked in their communities, and suggested possible reforms or more targeted support for small towns. Ellendale’s mayor also described two TIF districts, one for industrial infrastructure in Oaks and one for housing infrastructure tied to a data center project in Ellendale. The committee then turned to stripper oil taxation. The Tax Department gave a comparison of oil and gas tax structures in selected states, noting that most have some form of stripper or marginal well provision, while Alaska does not appear to have a specific stripper-well exemption. Members asked for more detail on definitions and North Dakota’s annual adjusted rate. The Department of Mineral Resources followed with a detailed presentation on North Dakota stripper wells, explaining the statutory thresholds, the 12-consecutive-month production test, and the fact that once a well qualifies it remains on stripper status even if production later rises. DMR said about 11,332 stripper wells are active, representing roughly 54% of wells and about 16% of state production, and emphasized that stripper status can extend well life, preserve tax revenue, and reduce orphaned wells. Committee members and industry witnesses discussed refracs, the economics of keeping marginal wells active, and the competitive disadvantage created by North Dakota’s oil price discount. No votes were taken on these informational items.

Transcript Highlights:

• I wanted to mention that I serve on a drafting committee for the National Uniform Law Commission, which
• is in the second phase of... ...for the National Uniform Law Commission, which is in the second phase
• So what the Uniform Law Commission is doing is drafting a Uniform Act that would implement that federal
• Let me just interrupt here, if I may, Representative Headland, after having been a broker for nearly
• Representative Headland, after having been a broker for nearly 35 years.

Summary: The committee first took up Senate Bill 2401, which would require physicians to complete continuing education on nutrition and metabolic health as part of the state’s rural health transformation effort. HHS supported the bill, saying it would help physicians better address chronic disease and preserve federal grant points tied to the state’s application. A member of the public also testified in favor, arguing that better nutrition education could improve diabetes outcomes and reduce costs. The committee then adopted an amendment to add the Board of Occupational Therapy Practice to the background-check statute so the occupational therapy compact could proceed, and it passed the bill as amended on a roll call vote. The committee next heard House Bill 1621, which would require the Presidential Fitness Physical Fitness Test in elementary, middle, and high school physical education courses. HHS said the bill was part of the rural health transformation application and could help preserve federal funding, but members raised many questions about the test’s criteria, adaptive options for students with disabilities, equipment needs, and whether the bill should apply to non-public schools. Senator Clemens offered an amendment to limit the requirement to public schools, but it failed. Senator Hogan then offered an amendment to clarify exemptions and allow DPI to align implementation with federal guidance; that amendment passed. A further amendment adding language allowing DPI to establish criteria for and exceptions to the test also passed. The committee then approved the bill as amended on a roll call vote. The committee also considered House Bill 1622, which joins North Dakota to the physician assistant licensure compact. HHS said the compact would improve access to care, especially in rural areas, support military families, and help preserve rural health transformation funding. Members noted the compact had been discussed in a prior session and that many earlier concerns had been resolved. After brief discussion about the compact process and its consistency with other interstate compacts, the committee voted to do pass the bill. Finally, the committee began Senate Bill 2402, which expands pharmacists’ prescriptive authority and therapeutic substitution powers. HHS and the Board of Pharmacy supported the bill as a way to improve access to care and maintain rural health transformation funding. Senator Roers introduced a detailed amendment negotiated with the Board of Medicine and Board of Pharmacy to narrow and clarify the bill, including notification requirements, limits on certain drug categories, and patient-protection language for therapeutic substitution. The Board of Pharmacy then testified in support of the broader bill and explained the CLIA-waived testing provisions and the repeal of the older, narrower pharmacist-testing language. The hearing and amendment discussion were still underway when the transcript ended.

Transcript Highlights:

• And now, the chairman of the Madison County Commission... ...the Madison County Commission.
• The commission shall impose the fine.
• You're saying that the commission shouldn't get the number.
• So this commission gives them what happened in the...
• I don't know what the commission will employ to determine that, but they have...

Transcript Highlights:

• that Missouri previously offered an advisor-sold 529 plan distributed through financial advisors and broker-dealer
• networks, and included commissions and advisor-specific share class.

Committee: House Financial Institutions

Summary: The committee first met in executive session on House Bill 2116, which drew comments about children’s education and an amendment offered by Representative Hinman. Hinman explained the amendment would phase out the Missouri tax subtraction for contributions to non-Missouri 529 plans for new users beginning January 1, 2027, while allowing existing users to continue. The committee adopted the amendment, rolled it into a substitute, and then voted the House Committee substitute do pass by a vote of 11 yeas, 3 nays, and 1 present. Hinman also noted concerns from the investment community about the absence of an advisor-sold 529 option and urged the department to work toward restoring it. In public hearing, Representative Lane Roberts presented House Bill 1870, a garnishment and exemption update that would modernize long-outdated exemption amounts, tie some amounts to CPI adjustments, increase the homestead exemption, and create new procedures for garnishment of financial institution account funds. The Missouri Bankers Association supported the bill, saying it was the product of extensive work with stakeholders and would improve efficiency and reduce legal risk for banks, while also protecting debtors’ rights. Questions focused on joint accounts, business accounts, and notice to account holders; a private attorney speaking in opposition argued the bill could improperly shift burdens onto non-debtor account holders and raised concerns about tenancy by the entirety, corporate accounts, and equitable garnishment. Representative Castile then presented House Bill 2586, which would lower the minimum credit union membership share from $25 to $1 and allow credit union board and committee meetings and voting by electronic means. The Missouri Credit Union Association supported the bill, saying it would improve access for members who need the $25 and help boards meet despite weather or distance, while also aligning state law more closely with federal practice. Finally, Representative Oehlerking presented House Bill 3107, the “Safe Harbor” bill, which would shield financial institutions from civil liability under state law when they act in good faith reliance on written guidance from regulators, while excluding fraud, intentional misconduct, willful wrongdoing, and gross negligence. Credit union and banking representatives supported the measure as a defense against costly litigation based on compliance with required forms and guidance, while an opposing attorney argued the bill relied on nonpublic agency guidance, raised separation-of-powers concerns, and could leave consumers without recourse; witnesses also discussed possible examples such as overdraft fee litigation and the need for any guidance to be public and reviewable.

Transcript Highlights:

• Missouri previously offered an advisor-sold Missouri 529 plan distributed through financial advisors and broker-dealer
• networks, and included commissions and advisor-specific share classes.

Committee: House Financial Institutions

Transcript Highlights:

• Senate Bill 6335, Transportation Commission. Last line. Referred to the Committee on Rules.
• An act relating to prohibiting real estate brokers from marketing residential properties.

Summary: The Senate opened with roll call, the pledge, prayer, and recognition of guests from the Sikh Coalition and Kalsa Gramath Center. Members then approved the journal and moved through committee reports and resolutions, including Senate Resolution 8678 honoring the Chimicum High School Marching Band for being selected to represent Washington in the 2026 National Independence Day Parade in Washington, D.C. The resolution was adopted unanimously, and the band and its supporters were recognized in the gallery. The chamber then confirmed two gubernatorial appointments to major health agencies. Ryan Moran was confirmed as Director of the Health Care Authority by a 49-0 vote, with supporters citing his Medicaid and health system experience and ability to provide stable leadership. Dennis Worsham was also confirmed as Secretary of Health by a 49-0 vote, with senators highlighting his long public health career, statewide outreach, and work on HIV/AIDS and community health. On legislation, the Senate passed Senate Bill 6011, expanding Court of Appeals bailiff authority to conduct threat assessments, and Senate Bill 5831, creating the Uniform Mortgage Modification Act. Senate Bill 6188, which expands Labor and Industries’ authority to update asbestos training and certification rules, passed 38-19 after an amendment to limit the bill to federal standards was rejected. Substitute Senate Bill 5917, concerning access to abortion medications through the Department of Corrections pharmacy, passed 32-17 after several Republican amendments were defeated. The Senate also passed In Gross Senate Bill 6024 on developmental disability services confidentiality and Substitute Senate Bill 6091 on prohibiting real estate brokers from marketing residential properties in exclusive private listings. Finally, Substitute Senate Bill 5840, adjusting campaign finance expenditure reporting deadlines, passed 46-3. After completing the day’s business, the Senate recessed for caucus and lunch until 1:15 p.m.

Transcript Highlights:

• of of getting this implemented so that somebody leaves live in the real world, somebody lives or brokers
• type of budget we want to build. >> At September, 12th meeting members of the Legislative Budget Commission

Transcript Highlights:

• I have been a real estate broker by trade and ran five real estate offices in the state of Florida.
• I was chairman of the Bay County Commission when Hurricane Michael hit, so Madam Chair, I feel you.

Summary: The Government Operations Subcommittee met with a quorum and began with member introductions and remarks from the chair emphasizing the committee’s focus on government efficiency, accountability, and oversight of executive branch agencies. Members shared their districts and backgrounds, with several noting hurricane recovery in their communities and a shared interest in reducing bureaucracy and improving service to Floridians. The committee’s only presentation was from Chris Spencer, Executive Director of the State Board of Administration, who gave an overview of the SBA’s governance structure, investment responsibilities, and divestment policies. He explained the SBA’s management of more than $257 billion in assets, including the Florida Retirement System, the Florida Hurricane Catastrophe Fund, and Florida PRIME, and reviewed the Protecting Florida’s Investments Act restrictions covering Northern Ireland, Cuba, Venezuela, Israel, Sudan, Iran, and China. He also described the implementation of HB 7071, including the required divestment from direct holdings in Chinese companies, and said the SBA had reduced its direct Chinese holdings from 33 companies totaling over $172 million to 13 companies totaling about $64 million, with completion expected ahead of the September 1, 2025 deadline. Members asked detailed questions about the Israel boycott list, Morningstar and MSCI, how the SBA gathers information, whether Cuba’s federal designation changes affect Florida law, how companies are removed from scrutinized lists, and whether divestment timing could affect returns. Spencer said the SBA uses public and paid research sources, gives companies a 90-day cure period in some cases, and brings list changes to the trustees for approval. He also explained that the China benchmark change is intended to reduce passive exposure while still allowing active investment decisions, and said the PFIA restrictions have had a modestly positive overall effect on pension performance. The chair also asked about the Florida Retirement System funded ratio and the CAT Fund’s capacity; Spencer said the pension fund is at 80.7% funded, that actuarial assumptions are reviewed regularly, and that the CAT Fund currently has more than $10.5 billion in liquid claims-paying capacity and is expected to remain well positioned for hurricane losses. No votes were taken, and the meeting adjourned after the presentation and questions.

Transcript Highlights:

• We do these trainings ourselves with the Ethics Commission and others at a time when local government
• And it allows the fund's balance to remain with the Trust Fund Commission, which is where it has been
• Please consider the following: participation on local boards and commissions is extremely limited.
• Moving to Senate 1428, an act relative to historic districts and commissions.
• , districts and commissions.

Committee: Joint Joint Committee on Municipalities and Regional Government

Summary: The committee held a lengthy hybrid hearing of the Joint Committee on Municipalities and Regional Government, with testimony spanning local board training, animal welfare and enforcement, municipal charters, water district dissolution, and other home rule matters. Chairs Rausch and Lewis set strict time limits because of the large number of speakers and explained that written testimony would also be accepted. Members heard from local officials, advocates, municipal employees, and residents, with many bills receiving broad support from municipal and advocacy witnesses. Several speakers supported bills requiring or expanding training for local boards and commissions, including pre-service training for planning, zoning, and other land use boards. Supporters said training would help volunteers understand complex laws, improve consistency, reduce legal challenges, and speed up housing and development decisions. Related testimony also backed a bill to modernize historic district commissions and another to allow associate planning board members to serve more broadly when needed to maintain quorums. A major portion of the hearing focused on animal legislation. Witnesses supported bills to expand citations for cruel conditions beyond dogs, update dangerous dog procedures, improve animal health inspections and breeder oversight, strengthen tethering rules, and protect pet consumers. Animal control officers, humane organizations, and some victims of dog attacks described enforcement gaps and the need for clearer standards, while several dog trainers and the American Kennel Club opposed parts of the dangerous dog bill and tethering restrictions, arguing they would limit humane training tools and professional discretion. The committee also heard strong support for a bill to create a statewide pet shop and consumer protection framework. The committee also heard testimony on several local home rule petitions. Medford officials and residents strongly supported a new city charter that would replace the current at-large council with ward-based representation and periodic charter review. Wayland representatives supported a bill to preserve the library’s Millennium Fund as intended, Cambridge officials backed creation of an employment and job training trust, and Carver officials supported dissolving the North Carver Water District due to compliance and financial problems. No votes were taken during the hearing, and the chair repeatedly invited written testimony and follow-up materials.

Transcript Highlights:

• This is what insurance brokers do. insurance yet the words say we're not insurance yet the words say
• </c> This is what insurance brokers do. We're not brokers. We're not insurance consultants.
• And there's also a commission.
• ><c> commission</c><02:12:34.079><c> will</c><02:12:34.400><c> then</c> commission.
• So the commission will then commission.

Summary: The subcommittee continued work on Senate Bill 297 and a new amendment dealing with pooled risk management programs and whether they should be regulated under the insurance department. Lisa Duket, executive director of SchoolCare, testified at length that the draft language could allow co-mingling of public entity risk funds, could trigger producer-licensing requirements for staff who are not actually brokers, and may not fit public entity risk pools because they are not insurance companies. She also raised concerns about the March 1 reporting deadline, the proposed uniform accounting language, aggregate excess insurance, examination costs being charged to the program, and confidentiality provisions that she argued may conflict with right-to-know principles for public entities. She urged the committee to slow down and consider a study committee or more time for review, saying the regulated entities were not adequately involved in drafting the proposal. Chairman Hunt and the department responded that the bill is intended to create a licensure-based regulatory model, similar to other licensed industries, and that the pooled risk management program would be exempt from producer licensing while anyone else selling or negotiating such coverage would need a producer license. The department said failure to comply would be handled through an administrative licensing process, with denial or nonrenewal of a license and appeal through the department process. On the reporting deadline, the department said March 1 is a standard filing date used for financial analysis and that the filing can be the most recent annual report, regardless of fiscal year end. They also explained that the confidentiality language was taken from existing RSA 5B, that aggregate excess insurance was included as a solvency measure, and that the draft was intended to preserve familiar language while adapting it for pooled risk programs. The discussion did not include a final vote or formal action on the bill in the portion provided. The committee appeared to be compiling follow-up questions for the insurance department and considering whether additional revisions or a slower process would be needed before moving the bill forward.

Transcript Highlights:

• </c><00:02:53.480><c> Mortgage</c> servicers mortgage brokers Mortgage servicers mortgage brokers Mortgage
• Commission on Aging is two people here. Commission on Aging is 46. It's on page 107 and...
• Moving on to how the commission is staffed: I am the one full-time employee of the commission.
• The full commission meets monthly, as do three commission task forces and two commission subcommittees
• commission members.

Summary: The committee first heard the Banking Department’s fiscal year 2026-2027 budget presentation from Commissioner Amelia Galeri. She described the department as a self-funded consumer protection regulator overseeing two main areas: the Banking Trust Division, which supervises state-chartered banks, credit unions, and trust companies, and the Consumer Credit Division, which oversees more than 7,000 licensees including mortgage and money transmitter businesses. She said the department’s budget is about 86% salaries and benefits, with 53 positions all filled, and explained that the agency funds itself through fees, fines, and end-of-year assessments on regulated entities. Galeri said the department is facing workload growth from several directions: continued growth in the trust industry, increased fintech supervision, and a new requirement to regularly examine auto dealers that take finance applications, which adds about 300 exams over two fiscal years. She said the department was directed to flat-fund its budget based on 2025 levels but was allowed to increase travel and training. To stay within that limit, she said the department reduced office space, went paperless, converted administrative and licensing positions into examiner positions, and expects to defund an embedded DOJ database administrator position once a new SharePoint system is fully implemented. Members asked about how the department’s revenue and assessments work, including whether fees were increasing and how much existing banks would pay. Galeri said fees are not being raised, most banks pay little or no fines, and assessments are based largely on asset size, with trust companies paying the bulk. She also explained that fines are set by statute, generally capped at $2,500 per violation for consumer credit entities, and said she would not recommend increasing that cap. The committee then voted to accept the Banking Department’s budget proposal as presented in HQ1, with a motion and second and no discussion. The transcript then moved to the Department of Energy budget. Commissioner Jared Chakin and Chief of Operations Lenny Radio discussed federal program funding, including LIHEAP fuel assistance and weatherization. They said the apparent drop in fuel assistance funding from FY 2024 actuals to the budgeted amount is due to the loss of ARPA and CARES Act supplemental funds, while weatherization remains a federally constrained program with a waiting list and limited flexibility. Members also asked about a proposed transfer from the renewable energy fund; staff said the transfer would still allow the department to carry out its statutory duties for the year, though the committee deferred deeper discussion until House Bill 2.

Transcript Highlights:

• The last five law revision commissions' audits have suggested to the commission that we needed to find
• In plain terms, the bill authorizes the California State Athletic Commission...
• In this industry, the California State Athletic Commission is the only...
• It's a special-funded commission that runs on a shoestring.
• We're very thankful for the forward thinking of the California State Athletic Commission.

Committee: House Business and Professions