Transcript Highlights:

• So I only say that to say I've not seen the report that MOST published to be...
• I've not seen the report that MOST published to be that I reviewed.
• institution, or the financial institution may reach out.
• But otherwise, it's siloed and they can't learn, oh, this person also has a financial need.
• The individual can self-report and hotline on their own, reporting their need, and that could jump-start

Committee: House Health and Mental Health

Transcript Highlights:

• statements, which is referred to as the annual comprehensive financial report.
• </c><00:12:04.279><c> report</c><00:12:05.279><c> um</c><00:12:05.519><c> is</c> comprehensive financial
• report um is comprehensive financial report um is what<00:12:05.839><c> results</c><00:12:06.240><c>
• This is our annual comprehensive financial report. It'll be available on our website as well.
• If anyone who's doing reports could get the reports, Representative Shamberg, if I could get reports

Summary: The meeting featured presentations from the Department of Administrative Services and the Treasury Department on state revenue reporting and unclaimed property. State Comptroller Dana Call explained DAS’s role in compiling statewide revenue reports, including the annual revenue plan set through the budget process and the monthly revenue focus reports that track cash receipts. She noted that unrestricted general fund revenue is about $2 billion annually, while miscellaneous other revenue is a much smaller and less predictable category, averaging roughly $30 million to $32 million a year. She also described two more material internal revenue lines: statewide indirect cost recoveries and post-retirement benefit recoveries, which are billed to agencies and often tied to federal reimbursement rules. Members asked about the interest line in the revenue charts and about how the figures were presented, and Call clarified that the totals were in millions and that the interest item would be explained by the Treasurer. She also explained that the indirect cost and post-retirement recoveries are internal cost allocations that flow back into the unrestricted revenue pool and are reflected in agency budgets as interagency costs. Treasurer Monica Meissner then outlined Treasury Department functions, including bank deposits, statewide disbursements, banking relationships, investments, debt management, compliance, the FONA College Savings Program, the ABLE Plan, scholarship programs, and the abandoned property program. In discussing unclaimed property, she said holders report property after a five-year dormancy period, the state uses automated systems and outreach to locate owners, and claim activity has increased. In fiscal year 2024, the state returned about $12.2 million to citizens through roughly 12,000 claims; over the last 10 years, about $72.6 million has been returned. She also said the state escheated $19.9 million to the general fund and $1.8 million to counties last year, and explained that securities-related proceeds are harder to estimate because they depend on market conditions. No votes or formal actions were taken.

Transcript Highlights:

• Students report that such punishment is painful, and one in five students reports being injured with
• For instance, a 2019 federal report found that 18% of LGBTQ+ students reported that their schools prevented
• We ask this committee to give a favorable report on the bill. Thank you.
• I urge you to repeal this law and give this bill a favorable report. Thank you.
• I urge you to repeal this law and give this bill a favorable report. Thank you.

Committee: Joint Joint Committee on Education

Summary: The Joint Committee on Education held a public hearing on a large slate of bills, with much of the testimony focused on school discipline and student equity. Bills discussed included measures to address inequities in suspension and expulsion, clarify school exclusion rules, reduce discipline for dress and grooming violations, and expand protections related to fair educational practices. Committee members repeatedly reminded witnesses of the two-minute limit and asked for written testimony to supplement oral remarks. A substantial portion of the hearing centered on the RAISE Act and related school discipline bills, including H. 730/S. 376 and H. 731/S. 380. Testifiers from advocacy groups, legal services, and the legislature argued that exclusionary discipline disproportionately affects Black and Latino students, students with disabilities, low-income students, and DCF-involved youth. They said current law is overly broad or unclear in areas such as “assault on educational staff,” indefinite suspensions tied to felony complaints, and definitions of weapons, leading to unnecessary removals from school. Supporters said the bills would add due process, clearer definitions, and better accountability, while one legislator testified in support of the discipline reforms and opposed several other bills on the agenda. The committee also heard testimony on H. 576/S. 368, which would prohibit suspensions and expulsions for dress and grooming violations and require clearer, non-discriminatory dress code policies. Witnesses cited research and personal stories about disproportionate enforcement against Black girls, girls of color, non-binary students, and students wearing religious attire, and said the bill would prevent physical contact used to enforce dress codes. Another major topic was H. 641/S. 349, which would add “special medical status” protections in education; supporters said it would prevent exclusion based on medical decisions or conditions, though members questioned how it would interact with existing disability law and vaccination-related school requirements. The committee also heard testimony on H. 625, which would extend the ban on corporal punishment from public to private schools, with witnesses citing research on harm and disproportionate impact. Additional testimony covered bills on accelerated learning and gifted education, with parents, educators, and advocates saying Massachusetts under-identifies advanced learners and lacks adequate acceleration pathways. A senator also testified for S. 406 on recovery high schools, saying the funding formula should be updated to better support students in recovery. No votes were taken during the hearing; the chair closed testimony on several bill groups and noted that written testimony would remain open for a week.

Transcript Highlights:

• Auditing and reporting tools, obviously. Performance... ...performance measures.
• When was the last time they were financially penalized? Every quarter?
• Twenty nurses reported concerns with follow-up care.
• Fifteen nurses reported concerns with extremely challenging work conditions.
• and it has taken years for the courts to release this report.

Committee: House Corrections and Public Institutions

Transcript Highlights:

• I brought up the reporting aspect and how our state is doing reporting-wise.
• I brought up the reporting aspect and how our state is doing reporting-wise.
• I had a meeting with... the reporting aspect.
• That places a significant financial burden on the organization, and that would place a significant financial
• So in the report, we put in a couple options.

Summary: The committee was called to order, a quorum was established, and the minutes from the prior meeting were approved. The first major presentation came from Montana Public Employees Retirement System executive director William Hollahan, who gave an overview of Montana’s Volunteer Firefighters’ Compensation Act plan. He explained that the plan covers volunteer firefighters in unincorporated areas, is funded by 5% of state fire insurance premium taxes, and currently serves 228 departments with about 2,936 active members and 1,242 retirees. He described eligibility rules, annual training and reporting requirements, benefit levels for partial and full pensions, disability, death, medical, and funeral benefits, and said the plan is actuarially sound with roughly $60 million in assets and a funded ratio slightly above 100%. Committee members asked about prior-service credit, whether EMS personnel are included, the effect on recruitment and retention, and whether expanding coverage would require a funding analysis; Hollahan said prior service is not credited, EMS is not currently included, and any expansion would need financial review. Tim Walleen of Workforce Safety and Insurance then presented a draft North Dakota workers’ compensation solution for volunteer firefighters and volunteer EMS personnel. He explained that volunteer responders are already covered by workers’ comp for medical and wage-loss benefits, but the proposal would set a minimum annual wage of $30,000 for calculating wage-loss benefits for qualifying volunteers, with the benefit paid at two-thirds of that amount. Representative Porter suggested tying the volunteer definition to existing code rather than a fixed dollar amount, and Walleen agreed. Questions focused on whether search and rescue or other volunteer emergency services could be included, whether departments would face new paperwork, and whether volunteer organizations can already elect coverage; Walleen said there would be no additional paperwork and that volunteer coverage is already available. The committee also heard from volunteer fire service representatives and the state fire marshal. An Oakes-area firefighter, Mr. Olson, testified that small departments are struggling with retention, communication, and administrative burdens, especially around separate bookkeeping and funding rules for donated or fundraising money, and he said departments need clearer guidance from the state. State Fire Marshal Dr. Matthew Clark introduced himself and outlined a broader effort to improve education, support, and coordination for fire departments, including a planned 10% audit of certificates of existence beginning in 2027, more outreach through his office, and better assistance with training, reporting, and grant access. He said his office is authorized under current law to provide these services, but the role has been vague and underused. Finally, Arnagard Rural Fire District Chief Rick Schreiber testified in favor of new recruitment and retention ideas, including retirement-style benefits, health insurance, tax incentives, scholarships, grants, and more remote or regional training. He said volunteer departments are losing members, that local tax and donation funds are already stretched, and that any new retirement or incentive program should be sustainable and likely involve a mix of state and local support.

Transcript Highlights:

• We also recommended the office should revise its grant contract and financial report formats to clarify
• We also recommended the office should revise its grant contract and financial report formats to clarify
• We also recommended the office should revise its grant contract and financial report formats to clarify
• their submitted financial report.
• </c> receipts with their submitted financial receipts with their submitted financial report<00:20:44.919

Committee: House Elections Finance and Government Operations

Transcript Highlights:

• Thank you for your, you know, today's report which you just presented.
• In this report, we make two main recommendations.
• And with the data and reporting requirements as Data and reporting requirements, as is recommended in
• we cannot wait for three years to begin to have any reporting.
• we cannot wait for three years to begin to have any reporting.

Summary: The committee heard an overview of the May Revision’s Proposition 98 changes for K-12 and community colleges. The Department of Finance said the minimum guarantee rises by $6.4 billion over the Governor’s Budget across the three-year window, with higher guarantees in each year, full payment of the prior settle-up, and larger deposits into the school rainy-day fund. The LAO said the revenue and LCFF updates were reasonable, but urged caution about the settle-up approach and recommended using more of the available funding to protect ongoing programs and build budget resilience. Members focused heavily on the size of the proposed $3.9 billion settle-up, the $10.3 billion reserve deposit, declining K-12 enrollment, and how much of the new funding should be ongoing versus one-time. The committee then reviewed the community colleges portion of the budget. Finance described the May Revision’s higher SCFF COLA, additional funding for enrollment growth, a student support block grant, apprenticeship adjustments, and continued funding for deferred maintenance, Calbright, Common Cloud, and credit for prior learning. The Chancellor’s Office supported the core investments but asked for more funding for enrollment growth, changes to the growth formula, and a COLA for Student Equity and Achievement. The LAO recommended prioritizing the statutory COLA increase, noted that more than half of districts are already above current-year growth targets, and said the new adult learner demonstration project should be rejected because districts already have tools to support similar services. Members also discussed a $52 million current-year apportionment shortfall, which Finance said was discovered too late for the May Revision and would need to be addressed later. Finally, the committee took up the proposed implementation of the federal Workforce Pell program. Finance proposed one-time funding for the California Student Aid Commission and Cradle to Career to build eligibility and data systems, along with trailer bill changes to set up state approval processes. CSAC said the program is promising but highly complex, that California lacks the needed infrastructure, and that the state will need emergency regulations, data linkages, and ongoing funding beyond the one-time proposal. The LAO agreed that some initial funding is needed but warned that the amounts and ongoing costs remain uncertain and that the Legislature should carefully draft the trailer bill language. Members asked about timing, other states’ actions, and how the state would ensure the program is ready for students and institutions.

Transcript Highlights:

• Idaho seniors are a prime target because they have financial assets.
• A lot of times they're very liquid financial assets. They have retirements, pensions, savings.
• And financial assets. They have retirements, pensions, savings.
• Representative Manwaring: I believe it's in the reporting requirement.
• Housing choice is directly tied to independence, health, and financial security.

Committee: House Business

Transcript Highlights:

• I am the Senate co-chair of the Joint Committee on Financial Services.
• So there’s a clear financial burden of this disease.
• I provided you that the Barry and Dunn did a cheer report.
• I urge the committee to report out H. 1258 favorably.
• When I was little, on financial services.

Committee: Joint Joint Committee on Financial Services

Summary: The hearing opened with the Senate and House chairs of the Joint Committee on Financial Services explaining that the day’s agenda would focus on health insurance and other insurance matters, with a large number of witnesses and a request for brief testimony. Legislators were taken out of order to accommodate their schedules, and the committee heard testimony on several bills, including coverage for hair prostheses for alopecia (H. 1223/S. 832), medically necessary oral and dental care for head and neck cancer survivors (H. 1258), modernizing fertility and family-building coverage (H. 715/H. 1190 and related bills), coverage for prosthetic devices to support physical activity for people with limb loss (the “So Everybody Can Move” bill), remediation coverage for home heating oil releases (S. 813/H. 1302), and expanded access to physical therapy for Ehlers-Danlos syndrome (H. 1170). A separate bill on sickle cell care and registry development (S. 788) was also discussed by Senator Liz Miranda. Witnesses largely offered personal stories and expert testimony in support of the bills. Advocates for alopecia coverage described the medical and emotional impact of hair loss, the high cost of quality wigs, and the argument that scalp and facial hair prostheses should be treated like other medically necessary prosthetics. Cancer survivors and supporters of H. 1258 said oral and dental care after head and neck cancer treatment is a quality-of-life issue and often not covered despite major out-of-pocket costs. Fertility specialists, LGBTQ+ advocates, and legislators supporting the modern family-building bills said the current infertility definition is outdated and discriminatory, excluding same-sex couples, people needing donors or gestational carriers, and others with medical barriers to conception. For the limb-loss bill, parents and adults with prosthetic needs stressed that activity-specific prostheses are essential for children and adults to run, swim, play sports, and stay healthy, but are often excluded from coverage. The home heating oil testimony focused on the financial devastation caused by residential oil spills and the need to make spill coverage automatic in homeowners policies. Environmental professionals and homeowners described cleanup costs ranging from tens of thousands to hundreds of thousands of dollars, the strict liability homeowners face, and the fact that many policyholders do not know the rider exists. The insurance industry testified in opposition to the mandatory-coverage approach, arguing for clearer distinctions between first- and third-party coverage, risk-mitigation standards, a delayed effective date, and more emphasis on education and notification rather than mandates. Committee members pressed the industry witness on why agents do not routinely tell customers about the rider and suggested that the issue may require broader disclosure by insurers, agents, and fuel dealers. No votes were taken during the hearing; the committee heard testimony and discussed possible compromise language and future action.

Transcript Highlights:

• There's whatever you can do to relieve pressure on the financial side that can help.
• Pressure on the financial side can be alleviated quickly.
• So they've had some job... report centers.
• They need to have some financial literacy steps in place.
• They do classes on financial literacy and things like that. financial literacy and things like that.

Transcript Highlights:

• From paid volunteer work, which supplements my financial aid, but that money is not enough to get me
• The consequences of these conflict-laden contracts extend beyond financial loss.
• For example, reports acquired through Public Records Act requests For example, reports acquired through
• Report them as not recusing themselves?
• this individual as someone who's not recusing themselves and financially benefiting?

Committee: Senate Education

Transcript Highlights:

• Since January 7, I have not received any financial support.
• So since January 7th, I haven't received any financial support.
• The financial impact on me was serious.
• “Financially, it would be devastating for my business.
• They don’t know if I’m going to be the one to report them.

Summary: The hearing focused first on how wildfires and other disasters affect child care providers, families, and early education infrastructure. State officials from the Department of Social Services and Department of Education described disaster response and preparedness efforts, including shelter coordination, licensing outreach, emergency waivers, distribution of supplies, and the statewide child care disaster plan. Testimony from providers and advocates emphasized major gaps in recovery funding, insurance coverage, rebuilding support, mental health services, and coordination with local rebuild plans. Several witnesses urged more dedicated disaster-recovery funding for child care facilities and suggested statutory changes, including allowing greater flexibility for rebuilding costs and requiring early childhood programs to be included in local disaster planning. The second panel addressed immigration enforcement and its impact on child care. Advocates from the Children's Partnership, Every Child California, and CHIRLA said enforcement activity is causing families to keep children home, disrupting continuity of care, reducing enrollment, and creating fear and trauma for children and providers. They argued that immigrant and mixed-status families need clearer protections, privacy safeguards, legal support, trauma-informed guidance, and safe-haven policies for child care settings. Speakers also stressed that the child care workforce is heavily immigrant and that recent state laws such as AB 49 and AB 495 will require funding, training, and technical assistance to implement effectively. Public commenters, including child care providers, described personal experiences with fire damage, displacement, permit delays, lost income, and the emotional toll of serving families during crises. Others described how immigration enforcement has made parents afraid to attend events, drop off children, or remain connected to providers. Committee members repeatedly noted that child care is often overlooked in emergencies and asked state officials how child care systems are being integrated into disaster planning and how local and state agencies can better coordinate. No formal votes were taken during the hearing.

Transcript Highlights:

• And members, by your vote, please show SB 880 reported favorably.
• Members, by your vote, please show CS for SB 830 reported favorably.
• And by your vote, please show CS for Senate Bill 490 reported favorably.
• Members, by our vote, please show CS for Senate Bill 26 reported favorably.
• Members, by your vote, please show Senate Bill 492 reported favorably.

Committee: Senate Appropriations Committee on Agriculture, Environment, and General Government

Summary: The Appropriations Committee on Agriculture, Environment, and General Government heard and advanced a large slate of bills, beginning with SB 978, which directs DEP to report on large sewage disposal facilities, rank them for wastewater treatment upgrades, and provide progress reports; it was reported favorably without public opposition. The committee also adopted an amendment and favorably reported SB 1388, which restricts vessel safety inspections without probable cause, creates a five-year safety decal, addresses spring protection zones, and bars FWC fishing licenses for commercial vessels owned by alien powers. Members raised some questions about spring protections and boating access, and one public witness urged further review of the spring-zone language. The committee then favorably reported SB 880, designating the American flamingo as state bird and the Florida scrub jay as state songbird, after testimony supporting both birds as symbols of Florida’s identity and conservation values. Several other measures were heard and passed. SB 830, dealing with lost or abandoned migrant vessels and aligning with House language, was amended and reported favorably. SB 1326, which requires local plans to maintain hurricane evacuation clearance times and allocates building permits in Monroe County and nearby municipalities, was amended to spread allocations over at least 10 years and then passed. SB 490, expanding off-duty concealed carry eligibility to correctional officers and correctional probation officers and exempting certain public safety personnel from the waiting period for rifles and shotguns, was reported favorably after support from the Florida PBA. SB 26, an uncontested claim bill for injuries from a 2022 crash, also passed, with one member suggesting future consideration of health insurance coverage for victims in similar cases. The committee additionally approved SB 98 on securities regulation and fingerprinting requirements, SB 1212 on firefighter health and safety, SB 196 on labeling food and cosmetics that contain vaccine materials or certain chemicals, SB 1300 restricting oil and gas drilling structures in sensitive areas, SB 1612 on financial institution assessment and stock offering timelines, and SB 492 on mitigation banking and wetland conservation easements. SB 1212 drew strong support from firefighters, while SB 492 drew both support and opposition from environmental and development interests, with concerns raised about wetland function, credit release timing, and conservation easement releases. Finally, the committee unanimously recommended confirmation of 12 appointees to water management district governing boards and adjourned after members recorded individual votes on selected bills.

Transcript Highlights:

• Reported favorably out and members.
• Reported favorably. Okay.
• Please show CS for Senate Bill 9.88 reported favorably.
• Please show CS for Senate Bill 1212 reported favorably.
• Acquiring financial is institution minutes purchase of another financial institution is completed.

Transcript Highlights:

• </c><00:19:50.960><c> from</c> discovered was we found a report from discovered was we found a report
• and there's a link to that 99 report and there's a link to that 99 report<00:19:59.880><c> in</c><00
• 20:02.720><c> lot</c><00:20:02.880><c> of</c><00:20:03.000><c> the</c> report in our report um a lot
• of the report in our report um a lot of the issues<00:20:03.440><c> were</c><00:20:03.720><c> the</c>
• </c> caregiver kinship working group report caregiver kinship working group report and<00:48:57.079><

Transcript Highlights:

• For example, the Fair Plan should be required to publicly disclose their financial statements.
• We didn't even know until the 2022 report who was on the governing board of the Fair Plan.
• We didn't even know until the 2022 report who was on the governing board of the fair plan.
• So a lot of its financial assembly member, California, a billion dollars.
• Sherry McHugh, representing the National Association of Insurance and Financial Advisors.

Summary: The Assembly Insurance Committee met as a subcommittee and heard several bills focused on insurance transparency, wildfire mitigation, market access, and workforce issues. AB 75 would require insurers to give homeowners 30 days’ notice before collecting aerial images of their property and allow homeowners to review those images; supporters said it would improve privacy and prevent inaccurate non-renewals, while consumer and industry groups both sought amendments. AB 234 would add the Assembly Speaker and Senate President pro Tem, or designees, as non-voting members on the California FAIR Plan governing committee; the Department of Insurance supported it as an oversight measure, while Consumer Federation of California said it was only a small first step toward broader transparency reforms. AB 428 would let water corporations join joint powers authorities for pooled insurance, with supporters citing rising insurance costs for small water systems and no remaining opposition after amendments. AB 943 would streamline producer pre-licensing education by removing the 20-hour per-line requirement while keeping ethics training; industry sponsors said it would reduce barriers to entry, while consumer advocates warned it could lower professional standards. AB 1209 would create a pathway for cannabis employers to secure workers’ compensation coverage and related services through a state-coordinated network; supporters said it would help bring the industry into compliance, while one member raised concerns about creating a special carveout for a federally restricted industry. AB 1 would require periodic review of the state’s Safer from Wildfire regulations every five years, and it drew broad support from the department, insurers, local governments, and industry groups as a way to keep wildfire mitigation incentives current. The committee also took up a consent calendar including AB 69, AB 487, and AB 570, all of which were sent to Appropriations. The committee approved AB 75 to Privacy and Consumer Protection, AB 234 to the Assembly Floor, AB 428 to Local Government, AB 943 to Appropriations, AB 1209 to Business and Professions, and AB 1 to Appropriations. Most measures passed on strong or unanimous votes after members added coauthor requests and expressed support for the bills’ consumer protection, transparency, or wildfire-related goals.

Transcript Highlights:

• , even they are reported.
• Yeah, so we have reports on deaths. Even today, I think the L.A.
• I felt overwhelmed figuring out such a big financial decision.
• financial assistance.
• financial assistance.

Committee: Senate Health

Transcript Highlights:

• Because instead of one report, as had been the law, they're now required two reports.
• So they asked me to start attending some of their financial, So, Got some real financial issues.
• Now you've got a copy of these reports, and even a lot of these reports are very expansive.
• Now you've got a copy of these reports, and even a lot of these reports are very expansive.
• What's the financial impact?

Committee: Senate Regulated Industries

Summary: The committee on Regulated Industries convened with a quorum and began a panel discussion focused on condominium milestone inspections and structural integrity reserve studies (SIRS), with members framing the topic as part of Florida’s post-Surfside condo safety reforms. The chair and panelists reviewed how the state got here, emphasizing that the problems predated Surfside and were driven by long-term deferred maintenance, underfunded reserves, and aging buildings. Panelists included representatives from Florida Realtors, engineering and reserve-study firms, a CPA, a community association attorney, and Broward County’s building safety official, all of whom described their roles in inspections, reserve planning, and code enforcement. Testimony centered on what inspectors are finding in the field. Panelists said the most common problems are not subsidence but wear-and-tear and maintenance failures, especially in stairways, balconies, roofs, parapet walls, waterproofing, and corrosion. They described examples of buildings with hidden deterioration, hurricane-exposed damage, and associations that were underfunded despite prior inspection regimes in Miami-Dade and Broward. Dr. Barbosa explained that Miami-Dade’s recertification program began in the 1970s and Broward’s in 2005, with current timelines generally requiring notice, a first milestone review, and then time to begin substantial repairs; she said the program has improved compliance but that SIRS has added confusion. Members also raised concerns about the cost and implementation of SIRS, including whether reports are being used to generate unnecessary work, whether contractors or firms have conflicts of interest, and whether the law’s use of “fully funded” is being misunderstood. Panelists said the statutory reserve requirement is better understood as baseline funding, not having all money in the bank immediately, and suggested clearer definitions and possibly changing the terminology to “adequately funded.” They also discussed the need to separate required structural items from optional or cosmetic items in reserve reports, improve transparency for buyers and lenders, and ensure associations provide documents through websites and other portals. No votes were taken. The committee used the meeting as an information-gathering session and signaled that more panels and discussion would follow, with members and witnesses agreeing that the state may need further clarification, education, and possible statutory adjustments to reduce confusion while preserving building safety.

Transcript Highlights:

• Also the Chair of the Joint Committee on Financial Services, and serving in this role.
• First is the operational and financial burden placed on merchants.
• It is a regulated financial data environment.
• financial institution.
• I'm going to turn it over to Keeley to talk about the financial.

Summary: The Special Legislative Commission on the Future of Payments and Sales Transactions by Credit Card and the Impacts for Small Business held a public hearing focused on credit card interchange fees, cashless transactions, chargebacks, fraud, and possible reforms affecting small businesses in Massachusetts. Chair Paul Feeney opened the meeting, outlined the commission’s charge, and noted that the hearing would hear from small business owners, industry representatives, and others on the effects of payment trends and proposed policy changes. Representative Sean Garballey testified first, arguing that universal card acceptance and the current interchange system are important to Massachusetts tourism and should not be disrupted ahead of a busy summer season. A large portion of the hearing featured independent restaurant owners and advocates, who said processing fees are especially burdensome because restaurants operate on very thin margins and are charged fees on sales tax and tips that are not retained as revenue. Testifiers including Jen Ziskin, Kristen Canty, Nancy Cushman, and Kerry Colzer described rising operating costs and gave examples of annual or monthly fee totals, urging relief from fees on tax and gratuity amounts. Ryan Lotz also asked for chargeback reforms, including refunding chargeback fees when merchants prevail, requiring consumers to contact businesses before disputing charges, proportional fees, and safeguards against repeat abuse. Several witnesses, including Dan Swanson, argued that states have authority to regulate aspects of the payment system and cited the Illinois litigation and federal court rulings as support for state action. Opposing testimony came from credit unions, banks, payment industry representatives, and policy groups, who warned that changing interchange rules could create compliance burdens, reduce rewards, raise account fees, and shift costs elsewhere. Witnesses such as Alex Vereen, Brad Popolado, Keely McEwen, David Montero, Hunter Hamburlin, and Luke Bondar emphasized fraud prevention, network security, consumer protections, and the need for a stable, uniform payment system. Some suggested alternatives such as vendor compensation, surcharging, instant payments, or QR pay code standards, while others argued that sales tax and tip amounts cannot easily be separated within current card-network architecture. The chairs said the commission is still exploring options, discussed possible state-level solutions, and announced plans for one more public hearing before moving toward recommendations and a report. The commission then voted to adjourn.

Transcript Highlights:

• accounting, reporting, disbursement, and auditing of financial resources.
• The fifth item before you is the annual comprehensive financial report, or ACFR.
• This is financial reporting automation and engagement support.
• Under the annual comprehensive fiscal report, it's noted that the report was much more timely than it
• There is a reporting requirement that's proposed, but it's an annual reporting requirement, and it's