Transcript Highlights:

• And then finally, section 10 amends the credit to clarify that married couples filing joint tax returns
• And then finally, section 10 amends the credit to clarify that married couples filing joint tax returns
• and I've and I've you know I know and and I've and I've you know I know that<00:58:32.200><c> you're
• and and again and talking about you know and and again and this<00:58:55.760><c> is</c><00:58:56.119
• ><c> and</c> people of color women and Veterans and people of color women and Veterans and perhaps<01

Committee: House Taxes

Transcript Highlights:

• Well, thank you, and good morning, Madam Chair and members.
• And the motion is due pass, and that is out on an A-roll call. And Mr. Pellerin is not voting.
• I'd love to be added as a joint author if you'd have me. And with that, the motion is due pass.
• And so based on that and also other reports that have come through, AB 2700 orders and directs the PUC
• My office and I have been engaging with Cal Cities and CSAC on the bill and have been in conversations

Committee: House Appropriations

Transcript Highlights:

• And mail to the Joint Committee on the Judiciary at 24 Beacon Street, Boston, Mass., Room 136, 02133.
• Chair Day, Chair Edwards, and members of the Joint Committee on the Judiciary, thank you for the opportunity
• Worrell and Jay and Brian and everyone that will testify today.
• Good afternoon, Chair Edwards and Chair Day, and everyone here on the Joint Committee.
• And so federal officers are not deterred from wrongdoing by any risk of personal liability.

Committee: Joint Joint Committee on the Judiciary

Summary: The Joint Committee on the Judiciary held a late-file hearing on several bills, with Chairs Michael Day and Lydia Edwards outlining hearing rules, testimony limits, and written-testimony procedures. The first bill discussed was H. 4876, a proposal to strengthen supports for survivors of abuse. Representative Carol Faiola testified on behalf of a constituent who described how a lifetime restraining order was effectively undermined after a family member’s death, arguing the bill should limit abusers’ legal standing after death, improve survivor notification and privacy protections, expand coercive-control definitions, and create education and resource programs. The committee then heard testimony on H. 5111, which would strengthen the Massachusetts Antitrust Act. Representative Dave Rogers and Attorney General’s Office antitrust chief Anthony Mariano said the bill would give the state more tools to pursue anti-competitive conduct, including conduct with multi-state effects, while allowing enforcement even when federal authorities are also involved. They said it would increase penalties, clarify that invitations to conspire are violations, protect labor markets, remove limits affecting some housing transactions, and extend the statute of limitations. The committee also heard support for a related “universal 1983” bill, S. 2976/H. 2976, creating a state cause of action for constitutional violations by federal, state, or local officers acting under color of law; supporters said it would fill gaps in remedies against federal officers while preserving qualified immunity. Testimony also supported H. 4783, a bill affirming the rights of people experiencing homelessness. The Massachusetts Coalition for the Homeless said the measure would push back against growing criminalization of homelessness, especially after the Supreme Court’s Grants Pass decision and local encampment bans, and would protect the use of public spaces without discrimination based on housing status. On H. 4826, condo owners and advocates said Chapter 183A is outdated and leaves owners with too little say and too few remedies against mismanagement, citing problems such as unsafe water, major assessments, and lack of meaningful dispute resolution. The committee also heard strong support for H. 5116, renaming the Dorchester Division of the Boston Municipal Court the Judge Leslie E. Harris Courthouse, with testimony from family members, legislators, attorneys, and community leaders describing Judge Harris’s mentorship, community service, and commitment to second chances. Later testimony covered S. 2975, a bill to deter ICE courthouse arrests and protect access to justice; CPCS, law students, and defense advocates said courthouse arrests chill participation by defendants, witnesses, and victims and disrupt pending cases. The committee also heard support for H. 5244, repealing an archaic law criminalizing concealment of a child’s death, with advocates arguing it has been used to punish pregnancy loss and should be removed. The hearing concluded with additional testimony in favor of S. 2976 and more support for the Judge Harris courthouse renaming, after which the chairs closed the hearing and reminded the public how to submit written testimony.

Transcript Highlights:

• Um, this is one of the several homestead food bills that we have, and this one actually defines the equipment
• That salt gets up into those cars and eats away at those joints and at those components.
• ><c> and</c> cars and eats away at those joints and cars and eats away at those joints and at<00:46:04.560
• state police rotation and local PDs requires a million-dollar general liability policy plus $500,000
• And what they have been seeing over the past several years are individuals and entities coming forward

Committee: Senate Commerce

Transcript Highlights:

• We're convening the joint committees with the Committee on Energy, Intergovernmental Affairs, and the
• You want me to just defer this one and then we vote on it Thursday and I answer that and just clarify
• </c> populations 500,000 and more, right? populations 500,000 and more, right?
• ><c> that</c> we vote on it Thursday and I answer that we vote on it Thursday and I answer that and<00
• objections and there any objections and recommendations?

Committee: Senate Energy and Intergovernmental Affairs

Summary: The joint committees heard House Bill 344 HD1, which would require new buildings to include electric vehicle charger-ready parking stalls. Testimony was overwhelmingly in support from the State Energy Office, Department of Accounting and General Services, the Disabilities and Communication Access Board, and others. Members asked about cost and infrastructure impacts; the State Energy Office said the added cost would likely be modest if planned from the start, but that electrical capacity remains a key challenge for expanding EV charging. The chairs proposed two amendments: extending the bill to cover on-grade parking lots and adding language for Level 1 or Level 3 charging when appropriate. After discussion, both committees voted to pass HB 344 HD1 with amendments. In the Energy and Intergovernmental Affairs committee, the chair voted aye, one member voted with reservation, and excused members were noted; the Government Operations committee also passed the measure, with one aye vote and one vote with reservations. The committees also heard House Bill 10001 HD1 SD1, relating to the Maui wildfire settlement trust fund. The Governor’s Office, Attorney General’s Office, Maui County, and the Tax Foundation testified in support. Members questioned Hawaii Electric Industries’ ability to fund its share of the settlement and whether the state should pay first or in tranches. The chair proposed amendments requiring all defendant parties to submit payment plans and proof of ability to pay, and requiring non-state defendants to fund their shares into escrow before the state releases its share. The committee adopted the amendments and passed the bill unanimously by the members present. Later, the committee deferred action on House Bill 229 HD1 until March 20 for clarification on amendments, then passed House Bill 860 HD1 with amendments addressing liability for limited resurfacing of disputed roads, and passed House Bill 1161 HD2 with amendments concerning highway fund use, formula calculations, and EV-related county fees.

Transcript Highlights:

• Chair Oliveira, Chair McMurtry, and members of the Joint Committee, thanks for having us today.
• , and members of the Joint Committee.
• Thank you to the committee chairs and to all members of the Joint Committee.
• Chairpersons and members of the Joint Committee on Labor and Workforce Development.
• Chairpersons and members of the Joint Committee on Labor and Workforce Development.

Committee: Joint Joint Committee on Labor and Workforce Development

Summary: The hearing opened with the co-chairs introducing House and Senate members and explaining the hybrid format, three-minute testimony guidance, and the deadline for written testimony. The committee then heard extensive testimony on S. 2665, which would require employers to post notice to employees when an I-9 audit or similar federal immigration inspection is underway. Supporters, including immigration attorneys, a pediatrician, a labor leader, and an affected family member, argued the bill would protect privacy, give workers time to gather documents and consult counsel, and reduce fear and wrongful arrests. One witness from Illinois described a similar law there and said it had not caused the problems employers feared, while others said recent ICE enforcement has made notice especially important. The committee also heard testimony on S. 1360, a bill affecting collective bargaining rights for State Police, with the State Police Association arguing that a statutory gap lets departmental rules override their contract and that the bill would restore intended bargaining protections. A separate labor bill, S. 1305, was also briefly supported by the AFL-CIO as part of broader worker-classification protections for app-based delivery drivers. A large portion of the hearing focused on H. 2066, which would impose fines on transportation network drivers who refuse rides to people with disabilities using service animals. Testimony from blind and disabled riders, service dog users, advocates, and the Disability Law Center described repeated ride cancellations, drivers pulling away after seeing a service animal, and the difficulty of enforcing existing anti-discrimination laws through MCAD or other agencies. Witnesses said the current system leaves riders without practical recourse because drivers are hard to identify and complaints can take years, and they argued that fines on individual drivers would create a real deterrent. Several witnesses also described the impact on employment, medical appointments, and daily independence. Committee members asked about service-animal verification, whether refusals are ever appropriate, and whether penalties should target drivers or companies; witnesses said legitimate refusals are limited to misbehaving or unsafe animals and that companies already have policies and some training, but enforcement remains weak. The committee also heard from a witness supporting a related bill on rideshare accessibility and from advocates describing broader transportation discrimination issues. One witness discussed a separate proposal to study service-animal denial, and others noted that Uber’s self-identification feature and company policies have not solved the problem. No votes were taken during the hearing, and the meeting ended after the final witnesses on the service-animal bill and a brief organizational discussion about related legislation and committee business.

Transcript Highlights:

• The total revenue from all state and local taxes equals the sum of all taxpayers’ liabilities minus any
• , and the blue ones cover the federal calculation of liability.
• ><00:14:51.160><c> uh</c><00:14:51.279><c> cover</c><00:14:51.519><c> the</c> liability and the blue
• ones uh cover the liability and the blue ones uh cover the federal<00:14:51.920><c> calculation</c><00
• c><00:22:32.200><c> difference</c> joint Filer and then the difference joint Filer and then the difference

Committee: House Taxes

Transcript Highlights:

• I’m the Chair of the Joint Committee on Community Development and Small Business, and I have the honor
• Chair Gómez, Chair Vargas, and other esteemed members of the Joint Committee on Community Development
• Before I share, I'd want to express my thanks to Chair Andy Vargas and Chair Adam Gomez and the Joint
• Thank you so much to Chair Andy Vargas and Chair Adam Gomez and the Joint Committee on Community Development
• The order was delayed over 32 days, which severely disrupted our project timeline and scheduling.

Committee: Joint Joint Committee on Community Development and Small Businesses

Summary: The Joint Committee on Community Development and Small Business held an informational hearing focused on the conditions facing small and micro businesses in Massachusetts and the state programs intended to support them. Chairs Andy Vargas and Adam Gomez opened by emphasizing equitable economic development, the importance of CDFIs, and the need to help underserved entrepreneurs, especially women, minorities, veterans, immigrants, and other groups facing barriers. Committee members noted the hearing would not take up bills, and testimony was limited to 10 minutes per organization. State and quasi-public agency witnesses described current programs and funding. Dico Gibral of the Executive Office of Economic Development highlighted the Business Front Door, multilingual access, small business office hours in Gateway Cities, and funding in the Mass Leads Act, including support for CDFIs, small business technology, and capital grants. Tom Hooper of Commonwealth Corporation described workforce training programs such as the Workforce Training Fund, Workforce Competitiveness Trust Fund, and Career Technical Initiative, saying they help small businesses train workers, fill labor shortages, and support returning citizens and people with disabilities. Committee members asked about federal funding uncertainty, workforce migration, training schedules, and program uptake. Business and advocacy groups focused on cost pressures and regulatory burdens. The Massachusetts Restaurant Association urged continuation of outdoor dining and takeout alcohol sales, and pressed for relief from high credit card swipe fees, support for surcharging, and streamlining municipal licensing. The Retailers Association of Massachusetts cited survey results showing inflation, utility costs, payroll taxes, health insurance, and interchange fees as major concerns, and said many members might sell or close within five years; it also backed ending the state prohibition on surcharging and creating an Office of Main Streets Massachusetts. MACDC, BECKMA, and the Coalition for an Equitable Economy emphasized the need for more technical assistance, CDFI and small business funding, and protections against rising costs, tariffs, supply chain disruptions, and immigration enforcement impacts on immigrant-heavy business districts. No votes were taken.

Transcript Highlights:

• The Chair and the committee have been fantastic. We were on Zoom several times.
• So my wife and I started reading all of the liability releases that was required to sign for camps and
• Two items: risk assessments and the liability structure.
• Two items: risk assessments and the liability structure.
• This bill represents a joint agreement between CAOC and Uber that protects patients and makes Californians

Committee: Senate Judiciary

Transcript Highlights:

• the Son, and the Holy Spirit.
• And then line 28 talks about some liability: if the provider prescribed X drug, the pharmacist dispenses
• There are several other states that are already enabling this partnership between pharmacists and physicians
• In the weeks leading up to this special session, several agencies reached out and requested supplemental
• And new counsel had to get up to speed on the case and is now prepared.

Bills: SB2401 , SB2402 , SB2403 , SB2404

Summary: The Senate convened with prayer, the Pledge of Allegiance, and a quorum present. It adopted the procedural employment committee report naming Senate staff for the special session. The chamber then took up several health-care and appropriations measures, first adopting amendments to Senate Bills 2401, 2402, and 2403 before moving them to final passage. Senate Bill 2401 passed 44-2 and requires physicians to complete at least one hour of continuing education in nutrition and metabolic health, part of a broader rural health care package. Senate Bill 2402 passed 46-0 after major amendments negotiated between the medical and pharmacy boards; as amended, it expands pharmacists’ prescriptive authority and therapeutic substitution in limited areas while excluding categories such as antidepressants, antipsychotics, chemotherapy agents, Schedule II drugs, biological products, and narrow therapeutic index drugs. Supporters said it would improve rural access and help secure rural health transformation funding, while questions focused on how pharmacist competence would be measured and enforced. Senate Bill 2403, also passed 46-0, creates a short-term medical facility emergency operating loan program through the Bank of North Dakota, reduced by amendment from $10 million to $5 million, to help a financially distressed rural hospital. Senators discussed the hospital’s mismanagement, the need for a bridge loan, and safeguards including a limited application window and expiration in 2027. Senate Bill 2404 passed 46-0 and provides supplemental appropriations to the Information Technology Department for ADA-related website accessibility compliance and to the Public Service Commission for additional legal costs in federal energy-rate litigation. The Senate then made announcements about a Highway Patrol safety presentation and filing deadlines, excused an absent member, and adjourned until the next morning.

Transcript Highlights:

• Having been enrolled and signed by the Speaker, House Joint Memorial 14, House Joint Memorial 16, House
• In the House of Representatives, House Joint Memorial 21 by the Ways and Means Committee, a joint memorial
• are signing and sealing and submitting these plans, will have to demonstrate that they have active liability
• The Education Committee reports out House Joint Memorial 20 and Senate Bill 1420 and recommends they
• Senate Joint Memorial 11 and Senate Concurrent Resolution 124 will be referred to the Judiciary and Rules

Transcript Highlights:

• And then we exempt them from liabilities as a medical facility in 39-10 and in 39-10.
• tracking it on the liability component of it and and thought that maybe this would help incentivize doing
• and a joint collaborative nexus there and a joint collaborative effort<00:53:15.760><c> going</c><00
• One is to do a study and keep in mind that this was from Joint Corporations, and this is a discussion
• from joint that that this was from joint corporations<01:28:04.000><c> and</c><01:28:04.239><c> this

Transcript Highlights:

• And so these letters, it's just strict liability. And they're just churning these lawsuits.
• And so these letters, it's just strict liability. And they're just churning these lawsuits.
• First, it creates sweeping manufacturer and employer liability.
• And then in the other section, in terms of liability. So as I understand it... ...of liability.
• And then as far as the individual liability, so if they do something, they have the civil penalty, and

Summary: The committee heard several bills focused on artificial intelligence, child safety, mental health, and privacy. SB 574 by Senator Umberg would require transparency and human oversight when attorneys, judges, and court neutrals use AI; it drew support from privacy advocates and committee members, with no opposition. SB 1276, the End Child Exploitation Act, would update child sexual exploitation laws to cover live-streamed and AI-generated abuse material and clarify that viewing such content can be criminally punishable; prosecutors, child advocacy groups, and others supported it, while no one appeared in opposition despite opposition on file. SB 813 would create a California AI standards and safety commission and a voluntary two-tier certification framework for AI safety standards; supporters said it would create scalable, independent oversight, while TechNet and CalChamber opposed it as duplicative, under-defined, and likely to create a de facto mandate. The committee discussed market pressure, federal preemption concerns, and the role of voluntary standards, but no final vote was taken in the excerpt. Senator Padilla also presented SB 300, which would strengthen protections for minors from sexually explicit chatbot content by moving from a reasonableness standard to an affirmative duty to prevent such exposure and to prohibit facilitation. Supporters said new evidence showed greater risks and that companies can and should build stronger safeguards; opponents, including TechNet and CCIA, argued the bill was premature because SB 243 had only recently taken effect and warned it could create strict-liability-like exposure. Padilla then presented SB 903, which would bar AI chatbots from being advertised as therapists, require licensed clinician oversight and informed consent for AI use in psychotherapy, and protect patient confidentiality; it received broad support from mental health professionals and labor groups, while industry and health associations were opposed unless amended over triage and crisis-detection language. The committee members emphasized the need for human judgment in mental health care and noted ongoing negotiations on amendments. The committee also heard SB 1119, a companion to AB 2020, which would require annual risk assessments, crisis-response protocols, default child settings, parental controls, limits on data use, public incident reporting, and third-party audits for chatbots used by children. Supporters argued the bill would address documented harms and improve transparency, while industry groups objected to ambiguous standards, liability exposure, and the private right of action. A roll call vote was taken on SB 1119 after quorum was established; the motion to pass to Appropriations succeeded on a 5-1 vote, with one no vote and the measure left on call for absent members. Finally, SB 354, a privacy bill for insurance consumers, would modernize outdated insurance privacy rules, bar sale of personal information, and expand consumer rights to know, correct, and delete data. Supporters said it would implement Proposition 24’s privacy mandate, while a large coalition of insurers, agents, brokers, and related businesses opposed unless amended, mainly seeking a small-business exemption and narrower treatment of publicly available information; members and the author said negotiations were ongoing and the bill had already been substantially revised.

Transcript Highlights:

• I served as chairman of the board of TESRS for several years, and I am absolutely. for this bill making
• Chairman and members, for the opportunity to present House Joint Resolution 175.
• As a result, other states have responded: Virginia, Connecticut, and several others have passed laws.
• Does the owner have to sign and take personal liability? No, there's no personal guarantee on that.
• HB4061 would also direct several dozen of the nation's largest banks to stop copying and using Visa's

Bills: HB245 , HB700 , HB2783 , HB3526 , HB3900 , HB4061 , HB4124 , HB4166 , HB4395 , HB4534 , HB4609 , HB4641 , HB4736 , HB4738 , HB4739 , HB4945 , HB5015 , HJR175 , HB245

Committee: House Pensions, Investments & Financial Services

Keywords: military service, retirement, law enforcement, custodial officer, Employees Retirement System, commercial financing, brokers, registration, disclosures, finance, consumer protection, fees, deferred compensation, automatic participation, county employees, payroll deductions, retirement plans, fiscal transparency, local government, bond issuance

Transcript Highlights:

• Chairman, I stated, and I believe I've heard it several times, is that brackish water is groundwater.
• I stated, and I believe I've heard it several times, is that brackish water is groundwater.
• to the where this part it's an adoption of a joint resolution by the legislature and then goes to the
• The Joint Committee on Capital Review reviews the closure recommendation and the process.
• I don't... and then also the legislature already has a process in place with... ...the joint committee

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

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

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

Transcript Highlights:

• There are several designs and development, though, and several projects are being launched, for example
• And finally, Jan Joint-base, San Antonio's issued a request for information to explore the feasibility
• We included several recommendations for potential legislative and administrative actions that may enhance
• Energy requirements taking into account the need for fuel diversity and liability.
• And so they're said there are several things out of the utilities control of the contractor's control

Transcript Highlights:

• Senate Joint Resolution 12 by Senators Pelton, R. and Hendrickson, also Representatives Johnson and Winter
• Let's pay our liability insurance in one lump sum and we'll save $5,000.
• liability</c><02:04:27.199><c> insurance</c> buildings, and our liability insurance buildings, and our
• </c><02:04:36.880><c> And</c> liability insurance in one lump sum?
• And liability insurance in one lump sum?

Summary: The House convened with a quorum, approved the corrected journal, and heard several announcements about upcoming committee meetings, events at the Capitol, and recognitions, including Music Therapy Day, Black History Month activities, adoptable puppies, and a Colorado Agricultural Forum. Members also celebrated Representative Story’s birthday and recognized the Scientific and Cultural Facilities District (SCFD) for its long-running support of arts, culture, science access, and economic impact in Colorado. The House adopted Senate Joint Resolution 12, designating February 20, 2026, as Colorado FFA Day, by a vote of 64-1 with one excused. The chamber then moved to special orders for several bills. The first major bill considered was House Bill 1017, which would prohibit insurers from receiving criminal restitution unless they are direct victims. Sponsors argued the bill prioritizes human victims, prevents restitution from becoming an unpayable burden on low-income defendants, and clarifies the law in response to court concerns and stakeholder feedback. Opponents argued it would shift costs to taxpayers and policyholders and could increase civil litigation and insurance premiums. An amendment, L005, was adopted to clarify the bill’s scope, and the bill then passed as amended. The House also took up House Bill 114, concerning minimum lot size and local land-use rules. An amendment, L002, was offered to prohibit certain local lot frontage, setback, open-space, or coverage requirements that would effectively prevent construction of a single-family home on a 2,000-square-foot residential lot. Supporters framed the measure as protecting housing access, while opponents argued it would override local land-use decision-making and public hearing processes. The transcript ends during debate on a substitute motion related to the amendment, before final action on House Bill 114 is shown.

Transcript Highlights:

• be available or affordable if manufacturers were subject to unlimited liability, and some had pulled
• health professionals and others could quickly work together without fear of liability to respond, and
• Expansions of liability will increase costs, as opposed to the reductions in liability and the news we've
• It layers duplicative liability on top of existing systems and may conflict with longstanding product
• liability protections and defenses recognized under Florida law, increasing cost and uncertainty without

Bills: S0408 , S0986 , S0678 , S0800 , S1050 , S0484 , S1118

Committee: Senate Regulated Industries

Transcript Highlights:

• Unfortunately, these disposable devices are incredibly popular and have become an accessory for several
• We have a lot of very conservative board members who are very concerned about costs and liability and
• , Tobacco Education and Research Oversight Committee, Rural County Environmental Services Joint Powers
• The data is clear: our housing affordability crisis is severe and worsening.
• The data is clear: our housing affordability crisis is severe and worsening.

Summary: The committee heard AB 839, which would allow up to three sustainable aviation fuel projects to qualify for expedited CEQA judicial review. The author and airline and airport supporters argued SAF is a key emissions-reduction strategy for aviation and that California needs to signal investment certainty after prior project litigation. Environmental Justice and Earthjustice opposed, saying the bill weakens the public’s ability to challenge polluting projects and that SAF facilities can harm already overburdened communities. The committee later took a roll call on the bill and it was held on call after a 3-0 vote, with the motion being due pass to Judiciary. Members then took up AB 762, which would ban the sale of disposable nicotine vapes in California. The author and a broad coalition of waste, public health, local government, and environmental groups said the devices create fire hazards, add lithium batteries to the waste stream, and burden local recycling and hazardous waste systems. Opponents, including retailers and business groups, argued the bill would mainly affect a small legal market while the illicit market would continue to supply most disposable vapes, and warned of unintended consequences. After discussion about illicit sales, EPR ideas, and reuse alternatives, the committee voted 2-2 on the motion to pass as amended to Revenue and Taxation, so the bill was kept on call. The committee also heard AB 907, which would compensate the six local air district representatives who serve on the California Air Resources Board the same as other board members. The author and supporters said the change would improve equity and help ensure local representation on CARB, and no opposition was presented. The chair expressed support, noting similar legislation had passed the committee previously, and the bill was held for a later vote once quorum issues were resolved.

Transcript Highlights:

• There are several dimensions of this response, and one of them is the public health response.
• The first step was a joint powers agreement passing money through to work with contractors and install
• There was a million dollars that was put into a joint powers agreement, and then we’re talking about
• There was a million dollars that was put into a joint powers agreement, and then we’re talking about
• and you know<01:00:10.480><c> there's</c><01:00:11.280><c> several</c><01:00:11.680><c> different</c

Bills: HF363 , HF2155 , HF1524 , HF821 , HF1677 , HF1292

Committee: House Agriculture Finance and Policy