Transcript Highlights:

• I just want to say I'm really glad to see ownership at the...
• I just want to say I'm really glad to see ownership at the core of this bill.
• , make those properties owned by re- ...make those open to ownership, make those properties owned by
• for home ownership.
• It has left too many people without a home, struggling to pay rent, and unable to achieve ownership.

Summary: The committee heard several housing, local government, coastal, and infrastructure bills. AB 306 would create a statewide appeal and code-interpretation process for building code issues at the California Building Standards Commission; supporters said it would reduce inconsistent local interpretations and speed housing delivery, while no opposition testified, and it was moved on a do-pass-as-amended vote to Appropriations. AB 956 would clarify ADU law to allow up to two detached ADUs on a property and address ADUs in HOAs/common interest developments; supporters framed it as a flexibility and housing-supply measure, while local government and county groups raised concerns about ministerial approval, parking, density, and impacts on neighborhood character. After committee questions, the bill was moved do pass as amended to Appropriations on a 2-0 vote, with the bill remaining on call. Members also considered AB 1751, which would create a ministerial approval path for qualifying townhome projects and allow local inclusionary ordinances for larger projects. Supporters said it would expand attainable homeownership and help produce missing-middle housing, while cities and counties objected to reduced density, by-right approval, and potential housing-element net-loss issues. The bill was moved do pass as amended to Appropriations on a 2-0 vote and remained on call. AB 912, which would revise the governance structure of the Vallejo Flood and Wastewater District board, drew unanimous support from the district, city, and county; it passed 3-0 to Appropriations and remained on call. AB 1710, aimed at preserving housing project entitlements from later regulatory changes, also advanced on a 4-0 do-pass-as-amended vote after opponents said they were awaiting the committee amendments. The committee also heard AB 2080, which would make county treasurer investment authority delegations ongoing until revoked rather than requiring annual renewal; supporters said it would reduce technical noncompliance and administrative burden without reducing oversight, and it was moved to the Senate Floor. AB 1740, a coastal bill for Santa Monica, would set timelines and reporting for a local coastal program and create an expedited Coastal Commission process for bike, transit, and pedestrian projects; supporters said it reflected a negotiated path forward with the city and commission, and it passed 3-0 to Appropriations. AB 2181, backed by Unite Here, would limit use of hypothetical density bonus value in hotel and motel appraisals; supporters said it would protect hospitality jobs from speculative lease-rent increases, and it was moved to the Senate Floor on a 4-0 vote. Finally, AB 2469 on data centers and water use drew the most extended debate. The bill would require water supply and water use assessments before approval, and shift infrastructure costs to project proponents; supporters said it would improve transparency, protect ratepayers, and ensure local governments have information before approving water-intensive facilities. Opponents, including business, city, county, and tech groups, argued existing law already covers water assessments and fees, warned the bill could create a separate permitting regime, and raised concerns about privacy, security, and investment impacts. The committee had not yet taken final action on AB 2469 when the transcript ended, and members were still asking technical questions about data center cooling and water reuse.

Transcript Highlights:

• </c> of housing and home ownership. of housing and home ownership.
• and co-op ownership.
• It's now in private ownership.
• </c> resident ownership and co-op ownership. resident ownership and co-op ownership.
• It's now in private ownership. Under it. It's now in private ownership.

Keywords: 1187, senate, all

Transcript Highlights:

• </c> investment in HECAT for home ownership investment in HECAT for home ownership counseling<00:05:21.840
• It's a number one source of affordable home ownership.
• Um, you know, affordable home ownership.
• Um you know, rental to home ownership.
• Um, also want dream of home ownership.

Bills: HF1141

Keywords: housing, finance, affordable housing, infrastructure bonds, Minnesota Housing Finance Agency, supportive housing, homeless prevention, elderly assistance, community development, 1183, house

Transcript Highlights:

• One being is this bill will only allow the transfer of ownership of a parrot to a sanctuary.
• One being is this bill will only allow the transfer of ownership of a parrot to only allow the transfer
• of ownership of a parrot to a sanctuary.
• Collaboratively on a policy that protects birds while preserving lawful commerce and responsible ownership
• Enforcement of existing animal welfare laws and support for responsible ownership in our homing.

Bills: H5432, H5433, S3093, H5363, H5137, H5247

Keywords: Newbury, rodenticides, second generation anticoagulant rodenticides, SGARs, pesticides, pest control, wildlife protection, environmental regulation, local bylaw, municipal authority, private property, rodent control, anticoagulant poison, public health, Massachusetts local option, Wellfleet, fertilizer, nitrogen, phosphorus, nutrient pollution

Summary: The Joint Committee on Environment and Natural Resources held a hybrid hearing on late-file bills, with testimony focused first on multiple home rule petitions seeking local authority to restrict anticoagulant rodenticides in towns including Andover, Topsfield, North Andover, Williamstown, Georgetown, Lexington, and others. Municipal officials, residents, wildlife advocates, and conservation groups described documented harm to hawks, owls, foxes, turtles, pets, and other wildlife, and argued that towns should be able to regulate these poisons locally. Several speakers said their towns had already voted to support restrictions and were using integrated pest management and other alternatives. Committee members noted that statewide rodenticide legislation had already advanced out of committee in both chambers and that the environmental bond bill was in conference committee, but no votes were taken during the hearing itself. The committee then heard testimony on H. 5137, a bill to prohibit the retail sale of parrots. Supporters, including animal welfare groups, veterinarians, rescue operators, and advocates, said parrots are often sourced from large breeding facilities with poor conditions, that many birds are surrendered because they are difficult long-term pets, and that rescues are overwhelmed. They argued the bill would encourage adoption, reduce demand for commercial breeding and trafficking, and improve bird welfare and public health. Opponents, including breeders, pet retailers, aviculture representatives, and rescue operators, said the bill would harm small businesses, reduce consumer access and transparency, and push sales to unregulated markets without improving welfare. Several speakers said the bill should instead focus on stronger standards and enforcement rather than banning sales. A separate bill, S. 310, designating the Marion Stoddard River Walk, was also briefly discussed in testimony supporting Marion Stoddard’s environmental work. The hearing ended after the committee finished taking testimony and adjourned; no roll-call votes or formal actions were taken in the transcript.

Transcript Highlights:

• In the care home industry, care homeowners regularly transfer ownership as a...
• In the care home industry, care homeowners regularly transfer ownership, as I said, to new entities or
• The JEU has required... ...owner transferred ownership to an administrator.
• Since most businesses with a judgment end up shutting down or transferring ownership, there are fewer
• The change in ownership 21 times was pretty shocking, but it's all the same people, and different names

Summary: The Assembly Committee on Labor and Employment held a review hearing on SB 588, focused on wage theft enforcement and whether the law’s tools are working as intended. Committee members emphasized that wage theft is a major and under-enforced form of theft in California, citing large backlogs in wage claims and long delays that can leave workers waiting years for payment. The hearing was framed as oversight of the Labor Commissioner’s enforcement authority and a discussion of whether additional tools or funding are needed to improve collections and deter bad actors. Witnesses from UCLA, worker advocacy organizations, and legal aid described SB 588’s main enforcement mechanisms, including liens, levies, stop-work orders, successor and individual liability, and the ability to pursue upstream entities in fissured industries. They argued these tools have improved settlement leverage and recovery rates, especially in janitorial and property services cases, and gave examples involving Tesla, Cheesecake Factory, Optum, and grocery and care-home employers. At the same time, they said the law is less effective in industries like residential care, where employers often transfer assets or change ownership before judgments are collected, and they urged changes such as broader prejudgment lien authority, more license-revocation power, and additional staffing for the Judgment Enforcement Unit. Worker testimony highlighted the human impact of delayed or unpaid wages. A care worker described being underpaid, denied pay for breaks and off-the-clock work, and facing intimidation when filing claims. Marta Lepe Martinez said she was owed more than $300,000, waited more than three years for a hearing, and still had not recovered any money despite a judgment and a lien on property. Another worker advocate explained that SB 588 helped identify responsible individuals and businesses earlier, increasing the chance of recovery, but said more resources and faster enforcement are still needed. Labor Commissioner Lilia Garcia-Brower said SB 588 has significantly improved collections, reporting that the Judgment Enforcement Unit has recovered $125 million since enactment and that first-year recovery rates have risen from 17% to 46%. She said the agency is using liens, levies, stop orders, and individual liability more aggressively, but acknowledged that the tools are limited when employers are undercapitalized, hide assets, or transfer property before judgment. She supported the need for more staff and continued legislative investment. Public comment from SEIU California also backed SB 588’s framework and encouraged focusing enforcement on bad actors and expanding the law’s reach.

Transcript Highlights:

• In the care home industry, care homeowners regularly transfer ownership as a...
• In the care home industry, care homeowners regularly transfer ownership, as I said, to new entities or
• The owner transferred ownership to an administrator.
• Since most businesses with a judgment end up shutting down or transferring ownership, there are fewer
• The change in ownership 21 times was pretty shocking, but it's all the same people and different names

Keywords: 988, house, all

Transcript Highlights:

• And speaking of the ownership, is there a way of tracking the ownership?
• The registration is only a presumption of ownership; it's not a title. Okay.
• Registration's a presumption of ownership. It's not dispositive.
• I need to remember that word, presumption of ownership. That's a good one.
• I need to remember that word, presumption of ownership. That's a good one.

Summary: The committee first adopted the 2025 minutes, then took up House Bill 727, which would allow burning untreated, unpainted dimensional lumber such as two-by-fours. The bill was presented as a narrow exemption to existing restrictions on burning construction debris, and it was reported favorable without objection. Members then heard from DEQ Secretary Courtney Burdett on House Bill 697, the department’s sunset/recreation bill. She outlined DEQ’s work on permit modernization, interagency coordination, field inspections, spill response, criminal investigations, environmental education, and small business assistance. Members raised issues including a large waste-tire site, an oil spill response, and a stormwater discharge issue at Smitties. The committee praised DEQ’s responsiveness and reported the bill favorable without objection. House Bill 758, dealing with DEQ fees, was then considered. The bill and amendment package would update and increase various permit and program fees, add annual or biennial CPI-based adjustments, and remove outdated provisions, with the stated goal of aligning revenues with expenditures and reducing reliance on the state general fund. Several industry and landowner groups supported the measure, and the committee adopted the amendment and reported the bill favorable. The committee also advanced House Bill 726, which increases penalties for abandoning vessels and related gross littering. Members discussed how abandoned boats are identified, owner notice procedures, registration versus title issues, hurricane-related losses, and protections for older or distressed owners. Wildlife and Fisheries said the bill targets intentional dumping and that existing law allows case-by-case discretion for true hardship situations. The bill was reported favorable. House Bill 756, concerning personal watercraft, was also reported favorable after testimony that it would require reasonable suspicion for vessel stops, align state rules more closely with federal boating safety standards, and update provisions on accident reporting and inflatable PFDs. Finally, the committee considered House Bill 767, which creates recreational alligator hunting license and lottery fees contingent on separate legislation authorizing the season. Supporters said the measure would help create a recreational opportunity while generating conservation funding, but landowners and commercial harvesters warned the fee may be too low, the proposal may be moving too quickly, and recreational harvest could affect commercial operations and landowner interests. After extensive discussion, the committee adopted an amendment and reported the bill favorable. House Bill 964, authorizing a state property transfer in Caddo Parish, was also reported favorable, and the meeting adjourned.

Transcript Highlights:

• And speaking of the ownership, is there a way of tracking the ownership?
• I mean, how do you track the ownership?
• Registration's a presumption of ownership. It's not dispositive.
• I need to remember that word, presumption of ownership. That's a good one.
• I need to remember that word, presumption of ownership. That's a good one.

Keywords: 965, house, all

Transcript Highlights:

• And so it makes it much more difficult for a young person to get into the housing ownership situation
• every level of government to say, "Okay, what are we doing to impede people from getting into home ownership
• determine where these soft costs are playing an undue role in the cost of our homes construction and or ownership
• cost of our homes construction<00:02:52.840><c> and</c><00:02:53.160><c> or</c><00:02:53.400><c> ownership
• </c> construction and or ownership. construction and or ownership.

Keywords: 1187, senate, all

Transcript Highlights:

• The preference exempts transactions between distributors and retailers with certain ownership structures
• As I mentioned, that retailer is part of that ownership structure.
• The retailer must have partial ownership of the distributor to be eligible.
• Yes, that is correct, as long as they meet the specific ownership structure.
• So the distributor has to be, have part ownership of the retailer?

Summary: The Citizens Commission for Performance Measurement of Tax Preferences met on August 6, 2025, with five commissioners present and a quorum. The commission approved the May 7, 2025 meeting minutes and welcomed new commissioner Scott Edwards, who introduced himself. Staff also confirmed the September meeting date had been changed to September 22, 2025 at 10:00 a.m. to accommodate his schedule, and noted that testimony questions for the public hearing would be used at that meeting. JLARC staff then presented preliminary 2025 tax preference performance reviews covering nine preferences. For natural gas used as a transportation fuel, staff said the preferences reduce fuel costs but do not meet emissions-reduction goals, and recommended continuing the public utility tax and natural gas use tax exemptions while modifying reporting requirements; they also recommended continuing the marine-use LNG sales tax exemption and considering the Department of Revenue work group’s findings. For travel agents and tour operators, staff said the small-beneficiary rate appears to support smaller firms, while the larger-beneficiary rate should be reviewed and both should have clearer objectives and metrics. For nonprofit low-income housing development, staff said the preference is helping produce housing but the current metric does not align well with the objective, data/reporting problems remain, and the legislature should decide whether to continue and possibly modify the exemption, including considering annual renewal. Staff also reviewed the multipurpose senior citizen centers exemption, concluding it meets its objective and recommending continuation, with possible consideration of making it permanent. For disabled veteran adapted housing, staff said the preference has very low uptake despite eligible veterans and recommended continuing it but modifying it in consultation with the Department of Veterans Affairs to improve use. For trade convention attendance, staff said the preference aligns Washington with other states and recommended continuation. For agricultural fertilizer and seed wholesaling, staff said the exemption reduces tax layering and recommended continuation, with clarification on whether it is exempt from expiration/performance-statement requirements. For agricultural crop protection products, staff said the preference met its revenue-growth metric and recommended extending it while considering better metrics or recategorizing it as tax relief. Finally, for energy sales to a silicon smelter, staff said the preferences were unused because the facility was never built and recommended allowing them to expire. The meeting ended with reminders about written testimony and the September public testimony session.

Transcript Highlights:

• Is it a liability issue for the park ownership on that?
• that if a park did know that, and that's where, when we talked about sharing the disclosures, park ownership
• If there was a transaction between the buyer and the seller, park ownership is required to receive one
• where I'm just looking at it from the lens of, one, the individual transaction, but two, the park ownership
• know, I'm not the biggest fan of HOAs either, but this is a different agreement because the park ownership

Summary: The Assembly Housing and Community Development Committee heard four items, including one consent bill, and began before quorum was established. AB 760, by Assemblymember Ta, would temporarily allow mobile home park-owned homes to be rented to people displaced by a natural disaster in areas under a declared state of emergency, including adjacent jurisdictions. Supporters said it would quickly add housing after fires, floods, or earthquakes; there was no opposition at the hearing, and members generally praised the narrow committee amendments. The bill later passed on a due-pass-as-amended vote. Chair Haney presented AB 1445, which would let cities create downtown recovery districts to finance office-to-housing conversions and other downtown revitalization projects using growth in property tax revenue. Support came from the California Travel Association, Housing Action Coalition, IKEA, Spur, Abundant Housing, and Circulate San Diego, with members saying the bill could help downtowns recover and expand mixed-use housing. The committee voiced support and interest in broader use of the tool, and the bill was approved on a due-pass-as-amended vote. AB 456, by Assemblymember Connolly, drew the most extensive debate. The bill would prohibit mobile home park managers from requiring interior repairs or improvements as a condition of sale and would require timely written lists of exterior repairs, with supporters arguing that park managers are interfering with sales and delaying closings. Opponents, led by the Western Manufactured Housing Communities Association, argued that interior inspections are needed to protect buyers and park residents from unsafe conditions and potential liability. Members raised questions about safety, disclosure, HCD oversight, and liability; after discussion, the bill was moved on a due-pass-as-amended vote, with some members not voting or expressing reservations. The committee also approved the consent calendar.

Transcript Highlights:

• social equity operators by the challenges that accompany finding investors to raise capital, changing ownership
• social equity operators by the challenges that accompany finding investors to raise capital, changing ownership
• and control exiting ...that a company finding investors to raise capital, changing ownership and control
• Secondly, the bill recommends an increase in the ownership stake an individual or entity can assume in
• persons or entities possessing less than 35% equity in the license, encouraging broader investment in ownership

Keywords: 995, all

Summary: The House opened with the Pledge of Allegiance and welcomed students from the Frederick C. Murphy School in Weymouth, along with other guests introduced by members. The chamber then suspended Joint Rule 12 to allow several petitions to be referred, including proposals on alcohol labeling for beers consumed on premises, parity in funding for regional vocational and traditional public schools, and legal protections for victims of childhood sexual abuse. The main floor business was House No. 4187, An Act Modernizing the Commonwealth’s Cannabis Laws, reported by Ways and Means as a substitute bill. Members speaking in support described it as a comprehensive overhaul of the Cannabis Control Commission and the state’s cannabis and hemp regulatory framework. The bill would reduce and restructure the CCC, expand options for cannabis businesses and social equity operators, raise license and ownership caps, remove the vertical integration requirement for medical marijuana, and create stronger rules for hemp and CBD products, including a ban on unregulated intoxicating hemp products and a new regulatory structure for allowable hemp beverages and CBD items. Several amendments were offered and adopted by roll call, including changes narrowing the hemp beverage ban from 11 ounces to 7.5 ounces, requiring out-of-state testing labs to be certified in good standing with the commission, and other technical revisions. After debate, the House passed H. 4187 to be engrossed by a roll call vote of 153-0. The chamber also passed to be engrossed two sick leave bank bills, for Andrew Satara and Dana Johnson, and ordered House No. 1590, establishing a sick leave bank for Eric J. Wenaka, to a third reading. The House then adopted an order to meet the next day at 11 a.m. and adjourned.

Transcript Highlights:

• and then I'll stop, because I know there are people that want to testify, is that this is about ownership
• And so I think it's a bill about your data, your ownership over your data, and I think it's a bill about
• It's a bill about your data, your ownership over your data, and I think it's a bill about free markets
• I mean, I think ownership of data and people feeling comfort with ownership of data is important.

Keywords: House Committee Room C, General Assembly Building, 976, house, all

Transcript Highlights:

• </c> consolidates fragmented land ownership consolidates fragmented land ownership to<03:44:37.680><c
• . access to American home ownership.
• The legislation we will be ownership.
• But unfortunately, of home ownership.
• </c><06:21:50.798><c> through</c> housing and housing ownership through housing and housing ownership

Keywords: U.S. House of Representatives Floor Proceedings on Tuesday, May 19, 2026, 1012, house, all

Transcript Highlights:

• A home a home ownership distribution.
• What does that ownership opportunities.
• Home ownership is something everybody strives for.
• Home ownership is something everybody strives for.
• I think if you know folks ownership.

Keywords: 1187, senate, all

Transcript Highlights:

• January 1, 2028, all older CIC statutes will be repealed, and the Washington Uniform Common Interest Ownership
• the Washington Condominium Act, Homeowners Association Act, and Washington Uniform Common Interest Ownership
• January 1, 2028, all older CIC statutes will be repealed, and the Washington Uniform Common Interest Ownership
• the Washington Condominium Act, Homeowners Association Act, and Washington Uniform Common Interest Ownership
• The Washington Condominium Act, Homeowners Association Act, and Washington Uniform Common Interest Ownership

Bills: SB6001, SB6015, SB6054, SB5470, SB5884, SB6018, SB6027, SB6028

Keywords: building code, scissor stairs, safety regulations, construction standards, statebuilding regulations, residential building, construction permits, housing development, planning efficiency, state regulations, wildfire, home hardening, fire-resistant materials, fire-hardened building materials, common interest communities, homeowners association, HOA, condominium, condo association, wildland urban interface

Transcript Highlights:

• ownership remains a Homeowner ownership remains a significant<00:24:19.679><c> aspect</c><00:24:20.080
• Locked out, priced out, ownership.
• I urge ownership stake in their future.
• Home ownership is the cornerstone of the American dream.
• ><c> in</c> ownership attainable particularly in ownership attainable particularly in rural<01:06:30.000

Keywords: U.S. House of Representatives Floor Proceedings on Friday, January 9, 2026, 1012, house, all

Transcript Highlights:

• and business savings, erased people's livelihoods, and destroyed their dreams of small business ownership
• and business savings, erased people's livelihoods, and destroyed their dreams of small business ownership
• and business savings, erased people's livelihoods, and destroyed their dreams of small business ownership
• and business savings, erased people's livelihoods, and destroyed their dreams of small business ownership
• </c> business ownership that's thriving. business ownership that's thriving.

Keywords: 919, house, all

Summary: House and Senate DFL lawmakers held a Capitol news conference to press for a $100 million small business relief package in response to the economic fallout from Operation Metro Surge and related ICE enforcement activity. Representatives Cedrick Frazier and Jay Xiong, along with Senator Susan Pappas and other supporters, said the enforcement surge caused widespread fear, reduced customer traffic, lost wages, and closures for immigrant-owned and other small businesses in Minneapolis-St. Paul and greater Minnesota. They argued the state has a history of providing disaster-style aid when communities are harmed through no fault of their own and said this situation warrants similar action. Business and community testimony described specific losses: a Willmar restaurant closed after both parents were detained, a North Mankato grocery store opening was delayed, The Coven reported a 33% revenue drop at two locations, and Lake Street businesses were said to have lost substantial revenue and staff. Speakers said the damage affected workers, landlords, suppliers, and neighborhood corridors statewide, and several emphasized that the relief should come as grants or forgivable loans rather than additional debt. They also criticized House Republican leaders for tying the relief to changes in paid family leave and for blocking a public hearing. In response to questions, Frazier said negotiations were ongoing through committee chairs and conference committee, with the issue still being discussed in broader leadership talks. He said the House would need only one Republican vote in committee and on the floor to advance the measure, and identified Chair Baker as a possible supporter because of harm in his district. Speakers said the Senate has already passed the relief and urged the House to act quickly before the end of session.

Transcript Highlights:

• that those inside a particular gated community would have had a significantly higher cost of home ownership
• frankly it doesn't apply to them and they're looking for ways to reduce their total cost of home ownership
• are going to make decisions that are best for themselves and their families, whether that's home ownership
• I don't know that there is a direct correlation of the cost of home ownership, as the question was put
• I don't know that there is a direct correlation of the cost of home ownership, as the question was put

Bills: SB1290, SB1530, SB1847, HR1050, SB169, SB1377, SB1990, SB1991, SB1778, SB1579, SB1992, SB3, SB2028, SB1928, SB2127, SB2117, SB1439, SB1930, SB330, SB1191, SB2110, SB2134, SB2069, SB2095, SB1613, SB1246, SB1976, SB1346, SB1509, SB2071, SB259, SB1314

Keywords: 2-1-1 services, revolving fund, Department of Human Services, crisis pregnancy, abortion, legal funding, research funding, development rebate, Oklahoma Department of Commerce, tax incentives, higher education partnerships, Medicaid, ADvantage Waiver, home-based services, eligibility criteria, healthcare, senior services, Taiwan, Oklahoma, sister-state relationship

Transcript Highlights:

• That definition means the company has a greater than 50 percent ownership interest by either the Chinese
• The SBA was required to devise a divestment plan for all identified direct ownership interests in Chinese
• The SBA was required to develop a divestment plan for all identified direct ownership interests in Chinese
• enacted, was conducted in May of 2024, and it revealed 33 companies in which the SBA had direct ownership
• interest. 2024, and it revealed 33 companies in which the SBA had direct ownership interest, totaling

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.