THE SENATE COMMITTEE ON
INSURANCE WILL COME TO ORDER
THANK YOU GOOD AFTERNOON
EVERYONE THANK YOU FOR JOINING
US HERE TODAY. IN THE SENATE TO
WELCOME THE PUBLIC IN PERSON AND
WE HAVE SOME PEOPLE ON THE
TELECONFERENCE ARVEST STAFF FOR
INDIVIDUALS WISHING TO PROVIDE
PUBLIC COMMENTS TODAY ARE THE
PARTICIPANT NUMBER IS
877-226-8216 AND THE ACCESS CODE
IS. SIX TWO ONE SEVEN ONE SIX
ONE PLEASE NOTE WE WILL BE
HEARING FROM WITNESSES IN
SUPPORT AND OPPOSITION BEFORE
TAKING ANY PUBLIC COMMENTS WE
ARE HOLDING OUR COMMITTEE
HEARING HERE ON THE- STREET
BUILDING AND I WILL ASK ALL
MEMBERS LISTENING. TODAY TO
PLEASE COME AND JOIN US AT THIS
MEETING WILL BE SHORT AND ROOM
TWENTY ONE HUNDRED SO WE CAN
EXTRAPOLATION QUORUM. TODAY WE
HAVE TWO BILLS UP. SB EIGHT BY A
CENTER BLAKE'S PAYER WHICH WILL
BE TESTIMONY ONLY AND SB TWO
SIXTY THREE BY SENATOR DOT. SO
THE FIRST ITEM THAT WE WILL BE
HEARING IS BY SENATOR BLAKE
SPEIR S. B. EIGHT AND SO I WOULD
ASK THE SENATOR TO COME FORWARD
. SO FOR ALL THOSE LISTENING AND
FOR THE MEMBERS THAT ARE
LISTENING- ANOTHER COMMITTEES-
AFTER EXTENSIVE CONVERSATION
WITH THE AUTHOR HAS AGREED IN
OUR CONVERSATIONS I WILL ALLOW
THE AUTHOR TO PRESENT SB EIGHT
FOUR TESTIMONY ONLY. TO ALLOW
TIME FOR MORE STAKEHOLDER
CONVERSATIONS AND TED TO HELP
HER GET TO A BETTER PLACE FOR
THE BILL. ARE THERE WILL ONCE
AGAIN BE NO VOTE TODAY BY WE
WILL ADHERE TO VERY STRICT
GUIDELINES AND IT WILL BE S.
FOLLOW WE WILL START WITH
OPENING STATEMENT FROM THE
SENATOR. WE WILL ALLOW FOR
MINUTES FOR KEY WITNESSES IN
SUPPORT FOUR MINUTES FOR KEY
WITNESSES IN OPPOSITION AND
UNDER TESTIMONY ONLY WE DON'T
HAVE ME TO ASK THIS BILL WILL
COME BACK IN THE FUTURE FOR
DEBATE BUT WE'LL SEE WHAT IF
TIME ALLOWS AND WE WILL ALLOW. A
FEW MINUTES. SENATOR PLEASE FOR
HIM MAYBE CAN THANK YOU. OKAY
WELL THANK YOU SO MUCH I
APPRECIATE THE CONSIDERATION
MADAM CHAIR AND HELLO TO MY
COLLEAGUES. AND STAFF AND THE
PUBLIC. I PRESENTING SP EIGHT
TODAY FOR TESTIMONIAL PURPOSES
BECAUSE I FERVENTLY BELIEVE THAT
THE ISSUE OF GUN VIOLENCE IN
AMERICA WARRANTS A DISCUSSION IN
THIS COMMITTEE. EVEN THOUGH THIS
BILL WILL NOT MOVE FORWARD
TODAY. AND I WANT TO THANK MADAM
CHAIR FOR AFFORDING ME THE
OPPORTUNITY. TO THE PROMISE OF
SB EIGHT IS THAT GUN OWNERS
SHOULD BE REQUIRED TO OWN AN
INSURANCE POLICY. WE SHOULD NOT
WE SHOULD NOT HAVE. MEMBERS OF
THE PUBLIC OR VICTIMS OF GUN
VIOLENCE BEARING THE COST OF GUN
VIOLENCE THAT IS DELIVERED BY.
THE GUN FROM THE PERSON WHO
CHOOSES TO OWN A GUN. THIS IS
THE SAME PREMISE THAT APPLIES TO
CARS. WE ARE REQUIRED TO HAVE
CAR INSURANCE RIGHT NOW AND IF
YOUR CAR ACCIDENTALLY KILLS OR
INJURES SOMEBODY. YOUR CAR
INSURANCE WILL PAY IT'S THE SAME
THING THAT SHOULD APPLY TO GUNS.
EVERY YEAR THERE ARE A HUNDRED
AND SEVENTEEN THOUSAND PEOPLE
WHO ARE SHOT BY A FIRE ARM. AND
FORTY THOUSAND DIE FROM GUN
VIOLENCE THERE SEVENTY SIX
THOUSAND WHO SURVIVED GUNSHOT
INJURIES. WHEN YOU THINK ABOUT
THE MANY HAZARDS THAT INSURANCE
ALREADY COVERS IN OUR SOCIETY
IT'S TRULY STRIKING THAT WE DO
NOT HAVE GUN VIOLENCE COVERED BY
INSURANCE. SO AS AS YOU KNOW
INSURANCE HELPS US MANAGE RISK.
AND IT OFFERS REASSURANCES THAT
YOU WILL BE COVERED. IN THE
EVENT OF A FINANCIAL LOSS THAT
COMES FROM A SPECIFIC OR
UNEXPECTED EVENT. AND WHEN YOU
START TO THINK THROUGH ALL OF
THE DIFFERENT THINGS THAT
INSURANCE COVERS IN OUR SOCIETY
NOT JUST CAR INSURANCE BUT- LIFE
INSURANCE IF YOU SHOULD HAPPEN
TO DIE WHICH WE ALL DO. HEALTH
INSURANCE IF YOU HAPPEN TO GET
SICK. THERE'S FLOOD FIRE
EARTHQUAKE INSURANCE THERE'S
RENTER AND HOMEOWNER INSURANCE
THERE'S EVEN PET AND TRIP
INSURANCE. AND SO THE WIDE RANGE
OF THINGS THAT ARE COVERED BY
INSURANCE. TO ME THIS EXACT SAME
CONCEPT SHOULD APPLY TO GUN
OWNERSHIP. WE KNOW THAT GUNS
ACTUALLY KILL MORE PEOPLE THAN
CARS IN THIS COUNTRY NOW WE HAVE
FORTY FIVE THOUSAND GUN DEATHS
AND FORTY THREE THOUSAND CARD S.
WE HAVE MORE GUNS THAN PEOPLE
THREE HUNDRED THIRTY MILLION.
PEOPLE AND THREE HUNDRED EIGHTY
THREE MILLION GUNS. AND ALMOST
HALF OF HOUSEHOLDS HAVE AT LEAST
ONE GUN IN THE HOME FORTY FOUR
PERCENT. THE AVERAGE GUN OWNER
IN THE UNITED STATES HAS EIGHT
FIREARMS. THERE WAS SO MANY
VICTIMS OF GUN VIOLENCE WHY
DON'T WE HAVE A FUNCTIONING
INSURANCE MARKET AROUND THIS
VERY REAL INEXPENSIVE RISK THAT
COMES FROM GUN VIOLENCE. AND I
JUST WANT TO QUANTIFY SO WHO
PAYS FOR GUN VIOLENCE RIGHT NOW.
PRIMARILY THE PUBLIC DOES. EACH
GUN DEATH COSTS U. S. TAXPAYERS
ON AVERAGE TWO HUNDRED SEVENTY
THREE THOUSAND DOLLARS. FOR THE
INITIAL AND LONG TERM
REPERCUSSIONS OF A GUN VIOLENCE
INCIDENT. SO SB EIGHT WOULD
REQUIRE THOSE WHO CHOOSE TO
EXERCISE THEIR RIGHT TO OWN A
GUN TO HOLD THAT INSURANCE
POLICY FOR THAT GUN. AND THIS
BILL SB EIGHT WOULD WOULD APPLY
WHEN A GUN IS USED NEGLIGENTLY.
SO THE GUN OWNER WOULD HAVE
LIABILITY INSURANCE. CURRENTLY
COULD HAVE IT THROUGH A
HOMEOWNERS AND INSURANCE POLICY.
BUT THE VICTIM'S ONLY RECOURSE
FOR RESTITUTION IS TO SEE THE
GUN OWNER. AND THE BODILY HARM
AND OTHER DAMAGES OFTEN FAR
EXCEED THE GUN OWNERS PERSONAL
ASSETS. AND SO WHAT WORKER OUR
CURRENT SYSTEM IS THAT A VICTIM
HAS TO GO THROUGH THE TIME AND
FINANCIAL BURDEN OF HIRING A
LAWYER. IN ORDER TO RECEIVE
COMPENSATION FOR THE HARM THAT
IS CAUSED FROM GUN OWNERSHIP. A
VICTIM SHOULD BE ABLE TO FILE A
CLAIM WITH THE GUN OWNERS
INSURANCE COMPANY AND BE
COMPENSATED FOR AT LEAST SOME OF
THE DAMAGES THAT THEY'VE
SUFFERED. SO I WANTED TO MAKE
SURE AND RAISE THIS AT THE
INSURANCE COMMITTEE COMMITTEE
BECAUSE IT IS GOT INSURANCE THAT
WE'RE TALKING ABOUT. AND I
UNDERSTAND THAT THERE ARE A
LARGE NUMBER OF REASONS THAT
THIS IS NOT ABLE TO MOVE FORWARD
THIS YEAR. BUT I WANTED TO MAKE
SURE THAT IT WAS ELEVATED AS A
REALLY IMPORTANT ISSUE AND AN
IMPORTANT THING THAT WE CAN ADD
TO OUR UNDERSTANDING OF HOW WE
MANAGE GUN. THE REALITY THAT
GUNS ARE DEADLY AND THEY ARE IN
WIDE CIRCULATION JUST LIKE CARS
AND JUST LIKE A LARGE NUMBER OF
OTHER RISKS THAT WE FACE. IN OUR
SOCIETY. SO HERE TODAY JOINING
ME- IN TESTIMONY IS. WHY I WOULD
LIKE TO JUST MENTION FIRST WE
HAVE THE SUPPORT OF THE CONSUMER
ATTORNEYS OF CALIFORNIA. THE
CALIFORNIA CATHOLIC CONFERENCE
FUND HER AND THE CITY OF SAN
JOSE. SO THIS BILL THAT I
INTRODUCED SB EIGHT IS BASED ON
THE SAN JOSE A SAN JOSE A BILL
WHICH IS A WORK REQUIREMENT THAT
OWNERS. OWNERS OF GUNS WHO LIVE
IN SAN JOSE HAVE TO HAVE A GUN
INSURANCE POLICY. SO WITH THAT I
WILL TURN IT OVER TO- VALERIE
MCGINTY WHO IS HERE TESTIFYING
IN SUPPORT. THANK YOU SO MUCH
YOU MAY PROCEED. THANK YOU MADAM
CHAIR AND MEMBERS. VALERIE
MCGINTY FOUNDER OF FUND HER
TESTIFYING IN SUPPORT OF S. B.
EIGHT. ERICA ACADEMY OF
PEDIATRICS ISSUED A STATEMENT
LAST WEEK. THAT QUOTE. GUN
VIOLENCE IN AMERICA IS NOW SO
COMMON. THAT IT HAS BECOME THE
NUMBER ONE CAUSE OF DEATH FOR
CHILDREN AND TEENS. CLOSE QUOTE
THAT CHILLING STATISTIC. COMES
IN THE WAKE OF SCHOOL SHOOTINGS
ACCIDENTAL SHOOTINGS AND DAILY
AND DEADLY VIOLENCE THAT
INVOLVES FIREARMS. UNDER CURRENT
LAWS GUN VIOLENCE VICTIMS AND
SOCIETY AT LARGE. ARE THE ONES
WHO SUFFER THE COSTS OF GUN
VIOLENCE. JUST THE AVERAGE
HOSPITAL STAY FOR A NONFATAL GUN
INJURY COSTS MORE THAN SIXTY TWO
THOUSAND DOLLARS. FIREARMS ARE
AS WAS JUST SAID SIMILAR TO CARS
IN THAT THEY ARE INHERENTLY
DANGEROUS AND ARE IN WIDE
CIRCULATION. IF A CAR
ACCIDENTALLY CAUSES INJURY TO A
PERSON OR PROPERTY THE INSURANCE
POLICY WILL COMPENSATE THE
VICTIM SB EIGHT WILL APPLY THAT
SAME LOGIC TO FIREARMS BY
REQUIRING GUN OWNERS TO CARRY
INSURANCE. FOR DAMAGES CAUSED BY
THE FIRE ON. CURRENTLY HOMEOWNER
INSURANCE POLICIES DO NOT COVER
GUN INJURIES TO A SPOUSE CHILD
OR OTHER HOUSEHOLD MEMBER. BUT
THIS BILL WOULD FIX THAT. FOR
THESE REASONS FUND HER IS IN
SUPPORT OF SB EIGHT THANK YOU.
THANK YOU ANY OTHER WITNESSES IN
SUPPORT. OKAY THANK YOU NOW WILL
MOVE TO WITNESSES IN OPPOSITION
. THAT'S REMEMBER NO MORE THAN
FOUR MINUTES THANK YOU. YOUR
WOMAN RUBIO AND SENATORS GOOD
AFTERNOON AT ANY RATE- WITH THE
AMERICAN PROPERTY CASUALTY
INSURANCE ASSOCIATION HERE TODAY
AND RESPECTFUL OPPOSITION TO SB
EIGHT WE UNDERSTAND THAT SB
EIGHT IS INTENDED TO REDUCE GUN
VIOLENCE VIA ENCOURAGING
RESPONSIBLE STORAGE FROM FIREARM
OWNERS. AS WELL AS HELPING
SURVIVORS OF FIREARM INCIDENTS
THESE ARE LAUDABLE GOALS
UNFORTUNATELY THE MANNER IN
WHICH SB IS DRAFTED IS
UNWORKABLE FOR INSURERS AND
WOULD RESULT IN UNDESIRED
UNINTENDED CONSEQUENCES FOR
PURPOSES OF OUR DISCUSSION I
MUST EMPHASIZE A FUNDAMENTAL
PRINCIPLE OF PROPERTY AND
CASUALTY INSURANCE. THAT IT IS
DESIGNED TO COVER ACCIDENTAL
INVENT EVENTS NOT INTENTIONAL
ONCE SB EIGHT FIVE VIRTUE WHO
THE BILL WOULD REQUIRE COVERAGE
BE EXTENDED TO YOU AND LANGUAGE
UNDERMINE EXISTING LIMITATIONS
AND INSURANCE POLICIES WOULD
REQUIRE INSURANCE TO COVER
INTENTIONAL CRIMINAL ACTS. LET'S
BRIEFLY DISCUSS WHAT IS
CURRENTLY COVERED WITH REGARD TO
FIREARMS BY INSURERS FIREARMS
ARE TOO TYPICALLY COVERED UNDER
THE PERSONAL PROPERTY PORTION OF
A HOMEOWNERS OR RENTERS
INSURANCE POLICY PROVIDING
COVERAGE FOR THE THEFT OF OR
DAMAGE TO THE FIREARM. THIS IS
THE SAME TYPE OF COVERAGE THAT
WOULD COVER THEFT OF A COUCH FOR
INSTANCE. IN ADDITION TO
PERSONAL PROPERTY COVERAGE MOST
HOMEOWNERS AND RENTERS POLICIES
TYPICALLY PROVIDE LIABILITY
COVERAGE FOR THE ACCIDENTAL
DISCHARGE OF A WEAPON. LIABILITY
COVERAGE AS YOU ALL KNOW HELPS
FINANCIALLY PROTECT YOU AGAINST
LEGAL LIABILITY FOR INJURY TO
OTHER PEOPLE OR DAMAGE TO THE
PROPERTY OF OTHERS SO FOR
INSTANCE OF A GUEST IN YOUR HOME
INJURES THEMSELVES UPON YOUR
TRAMPOLINE. YOUR LIABILITY
COVERAGE WOULD HELP COVER THOSE
LOSSES. SB EIGHT OPENS THE FOR
THE SPRING WORK IN TWO IMPORTANT
WAYS FIRST BY REQUIRING INSURERS
TO PROVIDE LIABILITY COVERAGE TO
A HOUSEHOLD MEMBER. THIS WOULD
NOT ONLY BE AN EXPANSION OF
POLICY COVERAGE IT WOULD
DIRECTLY CONFLICT WITH HOW
INSURANCE POLICIES ARE
STRUCTURED. HOUSEHOLD MEMBERS
ARE NAMED INDIVIDUALS WITHIN THE
POLICY AND THUS ARE CONSIDERED A
FIRST PARTY TO THE CONTRACT
ITSELF. AS SUCH THESE
INDIVIDUALS ARE NOT PERMITTED TO
RECALL FOR FINANCE DAMAGES UNDER
THE LIABILITY PORTION. OF THE
POLICY WHICH IS ONLY AVAILABLE
TO COVER FIRST PARTY INSURANCE.
ACCIDENTAL DAMAGES THEY CAUSE
AND ARE LEGALLY OWED TO A THIRD
PARTY. SECOND THE BILL STATES
THAT THIS COVERAGE MUST BE
GRANTED WITHOUT LIMITATIONS
HOMEOWNERS AND RENTERS POLICIES
SPECIFICALLY EXEMPTS CRIMINAL OR
INTENTIONAL ACTS FROM LIABILITY
COVERAGE. INSURANCE IS MEANT TO
COVER ACCIDENTS NOT MALICIOUS
BEHAVIOR. FOR EXAMPLE HOMEOWNER
CANNOT SET THEIR OWN HOUSE ON
FIRE. AND BE COMPENSATED FOR
DOING SO BY THEIR INSURER.
INSURERS DO NOT NOW AND WILL NOT
VOLUNTARILY ENSURE INTENTIONALLY
HARMFUL BEHAVIOR CONSEQUENTLY
INTRODUCING SUCH AN EXPANSION OF
COVERAGE WILL FUNDAMENTALLY
REWORK INSURANCE. PUTTING
INSURERS IN THE UNTENABLE
POSITION IMPERILING THE EXISTING
HOMEOWNERS AND RENTERS INSURANCE
MARKET PLACE BECAUSE OF THESE
ADVERSE CONSEQUENCES THAT THE
BILL WILL HAVE ON THE MARKET AND
THE PREVIOUSLY MENTIONED REASONS
I MUST REFER. SPECTRALLY OPPOSE
SB EIGHT THANK YOU FOR YOUR TIME
HAPPY TO ANSWERING QUESTIONS.
THANK YOU VERY MUCH- WE STILL
DON'T HAVE A MEMBERSHIP BUT THIS
IS TESTIMONY SO WE ARE
PROCEEDING AS A SUB COMMITTEE
UNTIL EVERYONE'S READY. HI WE
CAN TAKE OF HEALTH. THANK YOU
MADAM CHAIR MEMBERS OF THE
COMMITTEE ALSO EIGHTY WITH THE
PERSONAL INSURANCE FEDERATION OF
CALIFORNIA WE AS WELL- AND
RESPECTFUL OPPOSITION TO THE
BILL OUR CONCERNS REST PRIMARILY
WITH THE INCLUSION OF HOUSEHOLD
MEMBERS. THIS IS A MAJOR FORM OF
CONTRACT AND TORT POLICY FOR THE
WAY THAT INSURANCE CURRENTLY
OPERATES THERE IS A DISTINCTION
IN TORT LAW BETWEEN INVITEES AND
GUESTS TO A HOME AND MEMBERS OF
THE HOUSEHOLD. THIS FLIPS IT ON
ITS HEAD AND ALLOWS HOUSEHOLD
MEMBERS TO BE TREATED AS A GUEST
IN THEIR OWN HOME BUT TO CLAIM
AGAINST POLICY. IT'S SOMETHING
THAT'S ON WORKABLE TOUR
COMPANIES- THEY ARE NOT OPPOSED
TO GET INSURANCE ON IT AS A
PRINCIPAL IT'S SOMETHING THAT
THEY OFTEN INCLUDE IN HOMEOWNERS
AND RENTERS POLICIES ALREADY- WE
HAVE WORKED CLOSELY WITH THE
MEMBERS OFFICE AND WE'RE VERY
GRATEFUL FOR THE CONVERSATIONS
WE'VE BEEN ABLE TO HAVE AND WE
HOPE THAT THERE IS A WAY TO MOVE
THIS FORWARD IN THE FUTURE.
THANK YOU VERY MUCH FOR YOUR
TIME. THANK YOU VERY MUCH YOU
HAVE ABOUT THIRTY SECONDS. MADAM
CHAIR MEMBERS RANDY PERRY ON
BEHALF OF PORAC AND THE HIGHWAY
PATROL CESSATION- THIS IS BASED
ON A SAN JOSE ORDINANCE IN THE
SENATE THE ORDINANCE LAW
ENFORCEMENT IS EXEMPTED. SO WE
WOULD ASK THAT WE WOULD ALSO BE
EXEMPTED FROM THE BILL. THANK
YOU THANK YOU FOR YOUR
TESTIMONY. I WILL ALLOW. FIFTEEN
SECONDS LEFT. NO. HIS WE LOUDEST
OUT FIVE MINUTES FOR ME TO. IN
SUPPORT AND OPPOSITION SO. TO
STATE YOUR NAME AND YOUR
POSITION THANK YOU SEPARATIST
REPRESENTING GUN OWNERS
CALIFORNIA AND THE NATIONAL
RIFLE ASSOCIATION. IN STRONG
OPPOSITION TO A BILL THAT HAS
SIGNIFICANT CONSTRAINT CAN'T WE
JUST NEED YOUR NAME AND YOUR
POSITION THINK ANYBODY ELSE IN
THE ROOM WISHING TO SPEAK IN
SUPPORT AND OPPOSITION. K. C.
NONE ARE WE'RE GOING TO GO NOW
TO WITH A PHONE LINE MODERATOR
CAN YOU PLEASE OPEN THE PHONE
LINES. THANK YOU EFFORT PARDON
OPPOSITION PRESS ONE AND THEN
ZERO FOR SB EIGHT. AND WE WILL
GO TO. TWO THIRTY NINE YOUR LINE
IS OPEN. HELLO MY NAME IS WELL
PLACED IN OPPOSITION TO THE
PROPOSED BILL. THIS IS A THINLY
VEILED INFRINGEMENT OF OUR
SECOND AMENDMENT RIGHT TO KEEP
AND- STATE YOUR NAME AND YOUR
POSITION YES THEY DO NEXT.
MODERATOR THANK YOU. BUT THANK
YOU. MEXICO LIVE IN A TO ONE
YOUR LINE IS OPEN. I AM HERE OF
THE COMMITTEE MY NAME IS BILL
GAINES REPRESENTING THE
CONGRESSIONAL SPORTSMEN'S
FOUNDATION THE CALIFORNIA
CHAPTER THE WILD SHEEP
FOUNDATION ROCKY MOUNTAIN ELK
FOUNDATION CALIFORNIA DEER
ASSOCIATION. CALIFORNIA HAS BEEN
FOR CONSERVATION AND SEVEN OTHER
WILDLIFE CONSERVATION
ORGANIZATIONS IN STRONG
OPPOSITION TO SENATE BILL EIGHT.
THANK YOU FOR YOUR TESTIMONY
NEXT. THANK YOU NOT A LIGHT NOT
TO TWENTY FOUR. HI MY NAME IS
GEORGE ADAMS FIVE SPEAKERS
STRONG OPPOSITION OF SENATE BILL
EIGHT. THANK YOU. THANK YOU
MEXICO TO LIGHTEN IT TWO FIFTY
YOUR LINE IS OPEN. YES THANK YOU
MY NAME IS CARLENE ELLIS THEM
WITH THE CALIFORNIA RIFLE AND
PISTOL ASSOCIATION IN STRONG
OPPOSITION TO THAT EIGHT THANK
YOU THANK YOU. THANK YOU NEXT TO
GO TO LINE TO FOURTEEN YOUR LINE
IS OPEN. HI MY NAME IS SERRA
LOSE A PARENT FROM WEST LOS
ANGELES I THINK THAT THE FACTORS
AND FUNCTIONAL IT'S WORTH STRONG
IN SUPPORT PLEASE SUPPORT THANK
YOU. THANK YOU. YOU MY TO THIRTY
ONE YEAR A LOT OF THE- HELLO
NAME IS DEBORAH MILLER MEMBER OF
THE NATIONAL RIFLE ASSOCIATION
CALIFORNIA RIFLE PISTOL
ASSOCIATION IN THE U. S. NAVY
VETERAN AND I'M RESPECTFULLY
URGING THE COMMITTEE TO OPPOSE
SENATE BILL EIGHT. THANK YOU
THANK YOU. THANK YOU TO GO TO
LIGHTEN IT TO TWENTY FIVE YEAR
LIFE. IS OPEN. LIKE TWENTY FIVE.
GO AHEAD. BUT I'M SURE MY NAME
IS JEFF TURNER I'M A MEMBER OF
THE CALIFORNIA RIFLE AND PISTOL
ASSOCIATION AND THE NRA I
RESPECTFULLY REQUEST THAT THE
COMMITTEE OPPOSE THIS
LEGISLATION AND THANKS TO ALL
THE WORK YOU DO. THANK YOU NEXT
. THANK YOU WILL GO TO LIKE A
TWO THIRTEEN YOUR LINE IS OPEN.
AND MISSOURI HAMLEY AND WHAT
THAT CALIFORNIA RIFLE AND PISTOL
ASSOCIATION OF GUN OWNERS A
CALIFORNIA FARM STOPS THE
COALITION AND THE NATIONAL RIFLE
ASSOCIATION AND STRONG
OPPOSITION AGAINST THIS BILL
THANK YOU. THANK YOU FOR YOUR
TESTIMONY NEXT. THANK YOU NEXT
TO GO TO LIGHTEN. TWO TWENTY
NINE YOUR LINE IS OPEN. HELLO MY
NAME IS GREG VENDOR BUT WALL
AND- ASSEMBLY I USE THAT AS
NUMBER THAT CALIFORNIA NINE IN
STRONG OPPOSITION ABOUT. THANK
YOU. THANK YOU I'D ONE NINETY
EIGHT ONE OF THE FUNDS. WE'RE
TRAVIS ON BEHALF OF CALIFORNIA
RIGHT THOSE THOSE FIFTEEN
MINUTES SPEED SPORT. STRONG
THANK YOU FOR YOUR TESTIMONY.
THANKS TO FORTY FIVE YOUR LINE
IS OPEN. THANK YOU MADAM CHAIR
MEMBERS MARKINGS FROM
REPRESENTING DUCKS UNLIMITED IN
OPPOSITION SB EIGHT THANK YOU.
THANK YOU FOR YOUR TESTIMONY.
THANK YOU MEXICO NINE TO FIFTY
FOR YOUR LINE IS OPEN. YES MY
NAME PLEASE PRESS ONE AN
IMPORTANT MEMBER FROM LOS
ANGELES COUNTY I AB FIFTY FOUR
ON THE DEMOCRATIC PARTY AND I AM
IN STRONG SUPPORT. OF S. B.
EIGHT THANK YOU THANK YOU. THANK
YOU I TWO THIRTY THREE LINE IS
OPEN. HELLO MY NAME'S BILL YOU.
RESIDENTS COUNTY I'M NOT
OPPOSITION SB EIGHT. THANK YOU.
THANK YOU WANT TWO FORTY THREE
OR LINE IS OPEN. BY TWO FORTY
THREE YOUR LINE IS OPEN. GOOD
AFTERNOON MY NAME IS PAT HURDEN
I AM- CHAIRMAN OF THE DEMOCRATIC
GOVERNORS CHAPTER THE CALIFORNIA
REP DISASSOCIATION LIFE MEMBER
ALSO THE AND ARE A- RETIRED
CALIFORNIA HIGHWAY PATROL
SERGEANT. CALLING IN STRONG
OPPOSITION TO S. B. EIGHT THANK
YOU THANK YOU. THANK YOU NEXT TO
THE LINE TO TEN. HELLO MY NAME
IS JACOB DEALS I AM CALIFORNIA
VOTING CITIZEN AND TAXPAYER I AM
URGING STRONG OPPOSITION TO SB
EIGHT. THANK YOU. THANK YOU NEXT
OVER THE LINE TO SEVENTEENTH.
GOOD AFTERNOON MY NAME IS MIKE
L. A. X. A MEMBER OF THE
CALIFORNIA RIFLE PISTOL
ASSOCIATION THE MANAGER- COUNTY
GUN OWNERS. AND- IN STRONG
OPPOSITION THIS BILL THANK YOU
THANK YOU. WE HAVE A COUPLE
THANK YOU. MORE SECONDS NEXT
CALLER PLEASE. TWO FORTY ONE
YOUR LOT IS OPEN. HI MY NAME IS
NICHOLAS PETTINATO I AM A
RESIDENT OF RIVERSIDE CALIFORNIA
AND ALSO INSURANCE PROFESSIONAL
FOR THE PAST TWENTY FIVE YEARS I
AM IN OPPOSITION OF THIS BILL.
THANK YOU. TWO FORTY TWO
MODERATOR THAT'S THIS IS THE
TIME ALLOTTED NORMALLY UNDER
TESTIMONY ONLY WE DON'T TAKE ME
TOO BUT I WANTED TO MAKE SURE
THAT SOME MEMBERS OF THE
AUDIENCE HAD THE OPPORTUNITY TO
STATE THEIR- CONCERNS BY PLEASE
NOTE THAT YOU'RE WELCOME TO SEND
A LETTER AND REGISTER YOUR- YOUR
OPPOSITION OR SUPPORT JOB PLEASE
KNOW THIS IS TESTIMONY ONLY
WHICH MEANS THAT THIS BILL WILL
COME BACK. AND GIVE EVERYONE THE
OPPORTUNITY TO DEBATED IN THE
FUTURE I WOULD LIKE TO BRING IT
NOW TWO MEMBERS OF THIS
COMMITTEE ANYBODY HAVING ANY
QUESTIONS. HEY NO QUESTIONS NO
COMMENTS SO I JUST WANTED IT
RETHINK THE AUTHOR WE KNOW THAT
THERE'S A LOT OF CONCERN OVER
THE- AROUND THIS ISSUE- CLEARLY
AS STATED EARLIER UP GUN
VIOLENCE AS IN A MOMENT NUMBER
ONE CAUSE FOR CHILDREN'S DEATH
AND THAT'S SOMETHING THAT WE
NEED TO TAKE INTO CONSIDERATION
BUT THIS IS. REALLY ABOUT GIVING
OUT THEIR THE OPPORTUNE TO BRING
THE BILL FORWARD HI EVERYONE
COME TO THE TABLE TO CONTINUE
THE DISCUSSIONS BUT ONCE AGAIN
THIS WILL BE. BROUGHT BACK IN
THE FUTURE AND EVERYONE WILL
HAVE QUALITY TIME TO. TO ENGAGE
IN A DISCUSSION UP WITH THAT.
WOULD YOU LIKE TO CLOSE YES
THANK YOU. WELL THANK YOU VERY
MUCH AND I APPRECIATE THE
SUPPORT TODAY FROM FUND HER AND
VALERIE MCGINTY AS WELL AS- LAW
ENFORCEMENT AND THE INSURANCE
INDUSTRY. COMING TO SPEAK TODAY
AND THOSE WHO PARTICIPATED OVER
THE PHONE I REMAIN COMMITTED TO
WORKING WITH ALL PARTIES-
PARTICULARLY TO STRENGTHEN AND
DEEPEN THE ROLE THAT INSURANCE
CAN PLAY IN CREATING A SAFER
SOCIETY. SO I LOOK FORWARD TO
THE ON GOING DISCUSSIONS- THAT
WE WILL HAVE. AND I JUST WANT TO
CLOSE BY. SAYING THAT I WAS THE
ONLY HIGH INCOME COUNTRY THAT
SUFFERS FROM SUCH A HIGH TOLL
FROM GUN VIOLENCE. WE SHOULD ALL
FEEL COMPELLED TO CONTINUE TO
EXPLORE POLICY SOLUTIONS. SO
GUNS ARE AN INTEGRAL PART OF OUR
MODERN AMERICAN SOCIETY IN THE
EXACT SAME WAY THAT CARS ARE.
AND WHEN THEY'RE MISUSED THEY
ARE DANGEROUS AND ENORMOUSLY
COSTLY. THIS BILL AIMS TO
ADDRESS THAT IMPACT AND THE COST
OF GUN VIOLENCE IN A MORE
EQUITABLE MANNER. SO I LOOK
FORWARD TO CONTINUING THIS WORK
WITH YOU MADAM CHAIR WITH THE
COMMITTEE THE CONSULTANTS MY
COLLEAGUES AND SUPPORTERS. AND
FOR THE PEOPLE WHO TESTIFIED
TODAY SO THAT WE COULD COME UP
WITH SENSIBLE LEGISLATION AROUND
INSURANCE AND FIREARMS. THANK
YOU AGAIN. THANK YOU SO MUCH FOR
YOUR WORK THANK YOU. ARE WE
STILL DON'T HAVE A QUORUM SO IF
I CAN ASK THAT WE CALL. MEMBERS
OF THIS COMMITTEE TO LET THEM
KNOW THAT WE ONLY HAVE ONE BUILT
UP WHICH IS A SENATOR DOTS. AND
TO- MAKE SURE THAT THEY GET HERE
SO WE CAN CONCLUDE THIS MEETING
ON TIME MISTER DOT. WHEN YOU'RE
READY YOU PROCEED. THE BILL
WE'RE TAKING UP RIGHT NOW IS SB
TWO SIXTY THREE BY SENATOR DODD.
THE FLOOR IS YOURS. THANK YOU
MADAM CHAIR MEMBERS.
REPRESENTING S. B. TWO SIXTY
THREE PERTAINING TO ANNUITIES
AND CONSUMER PROTECTION. FIRST I
WANT EXCEPT THE FIFTEEN
AMENDMENTS ON THE BOTTOM OF PAGE
NINE. AND ON THE TOP OF PAGE TO
AND- I WILL RETURN- TO THE THREE
QUESTIONS- ON THE BOTTOM OF PAGE
EIGHT IN A MOMENT. I REALLY WANT
TO THANK- ARE COMMITTEE
CONSULTANT ED TEAM- FOR ALL
THEIR HARD WORK ON THIS BILL IS
A LOT OF TIME. AND EFFORT IT
ALSO TO- THE SPONSORS
STAKEHOLDERS TO MOVE THIS
IMPORTANT CONSUMER PROTECTION
BILL FORWARD. THE NATIONAL
ASSOCIATION OF INSURANCE
COMMISSIONERS SUITABILITY IN
ANNUITY TRANSACTIONS MODEL ACT
SETS ESTABLISH STANDARDS AND
PROCEDURES FOR INSURANCE.
PRODUCERS RECOMMENDING DUTY
PRODUCTS TO CONSUMERS. THESE
STANDARDS ENSURE THE CONSUMERS
INSURANCE AND FINANCIAL
PROJECTIONS OBJECTIVES SKEWS ME.
ARE PROPERLY ADDRESSED IN TWENTY
TWENTY THE AND I. SEE UPDATED
THE MODEL ACT TO STRENGTHEN THE
STANDARDS FOR ANNUITY SALES.
THIS HELPS CONSUMERS UNDERSTAND
THE PRODUCTS THEY PURCHASE BE
AWARE OF CUT ANY CONFLICTS OF
INTEREST IN OUR SURE. THAT THEIR
INTEREST COMES FIRST. SB TWO
SIXTY THREE WILL ADOPT UPDATES
TO THE TWENTY TWENTY MODEL AS
WELL AS INCLUDE. ADDITIONAL
CONSUMER PROTECTIONS WITH REGARD
TO THREE QUESTIONS I ACCEPT THIS
SUGGESTED AMENDMENTS IN IN IN
QUESTION ONE. I ACCEPT THE
SUGGESTED BEN MINUTES IN
QUESTION TO BUT WITH THE
UNDERSTANDING THAT THE AND I. M.
A. I. C. MODEL LAW PERTAINING TO
THE DISCLOSURE COMPENSATION UPON
REQUEST BY THE CONSUMER IS IN
THE AMENDMENTS. REGARDING
QUESTION THREE- I COMMIT WORKING
OUT ON THIS ISSUE AS THE BILL
MOVES FORWARD IT'S JUST IT'S A
BIG ISSUE AREA I CERTAINLY
UNDERSTAND THE CONCERNS. AND
WOULD LIKE TO CONTINUE WORKING
ON THAT I'M CONTINUING TO WORK
WITH THE CALIFORNIA DEPARTMENT
OF INSURANCE IN THE INSURANCE
INDUSTRY TO ENSURE THAT THIS
BILL IS AS EFFECTIVE AS
POSSIBLE. I RESPECTFULLY ASK
YOUR AYE VOTE WITH ME TODAY IN
SUPPORT OF THE BILL IS A
SPONSOR- MICHAEL. A MARTINEZ THE
CHIEF DEPUTY COMMISSIONER
LEGISLATIVE DIRECTOR FOR THE
DEPARTMENT OF INSURANCE AND THE
LEADERSHIP OF INSURANCE
COMMISSIONER RICARDO LARA. AND
LIZA COLEMAN LEGISLATIVE
DIRECTOR OF THE CALIFORNIA
COMMISSION ON AGING. BEFORE WE
PROCEED I THINK WE DO HAVE A
QUORUM MADAM SECRETARY PLEASE
CALL THE ROLL. WE'RE SORRY MR
DOLOROUS DOUBTLESS AKORN. DO YOU
WANT TO. RUBIO PRESENT WHEN.
EVERADO GIL PRESENT. DODD
PRESENT JONES. MEANWHILE
PORTANTINO. AKORN'S BEEN
ESTABLISHED. THANK YOU AND I'M
SO SORRY MR DOT COM MICHAEL
MARTINEZ FROM THE DEPARTMENT OF
INSURANCE HAVE YOU MAY PROCEED
WHEN YOU'RE READY. I KEEP IN
MIND THAT EACH SIDE WILL HAVE NO
MORE THAN EIGHT MINUTES YOU MAY
PROCEED THANK YOU MADAM CHAIR
MICHAEL MARTINEZ CHIEF DEPUTY
COMMISSIONER LEGISLATIVE
DIRECTOR HERE ON BEHALF. OF
INSURANCE COMMISSIONER RICARDO
LARA AND THE CALIFORNIA
DEPARTMENT INSURANCE PROUD
SPONSORS OF THIS MEASURE AND ONE
OF THINK CENTER DOT FOR HIS
LEADERSHIP ON THIS IMPORTANT
CONSUMER PROTECTION MEASURE. AND
ALSO WHEN A TANKER COMMITTEE
STAFF FOR WORKING WITH US AND A
CLOSELY ON THIS MEASURE AS IT
MOVES FORWARD. MORE THAN THREE
YEARS AGO. AND THE NATIONAL
ASSOCIATION OF INSURANCE
COMMISSIONERS AND THE ICY VOTED
TO UPDATED SUITABILITY IN
ANNUITY TRANSACTIONS MODEL IN
RESPONSE TO NUMEROUS INSURANCE
ABUSES AN OVERLY AGGRESSIVE
SALES TACTICS OCCURRING IN THE
ANNUITY MARKET. ACROSS THE
UNITED STATES AS A AS AN ACTIVE
MEMBER OF THE NAACP. AND
REPRESENTING THE STATE IN WHICH
THE MOST FIXED ANNUITIES ARE
SOLD NATIONWIDE COMMISSIONER
LOTTE DEPARTMENT STAFF. WORKED
WITH SEVERAL OTHER STATES AND
CONSUMER ADVOCATES TO PUSH FOR
AS MUCH OF A CONSUMER PROTECTION
STANDARDS POSSIBLE. COMMISSIONER
LADA ALTERNATELY VOTED IN FAVOR
OF THE UPDATED AND HERE'S THE
MODEL BECAUSE IT CONTAINED. NEW
SIGNIFICANT CONSUMER PROTECTIONS
IN IMMUNITY TRANSACTIONS ON TOP
OF EXISTING CALIFORNIA LAW. THE
BILL YOU HAVE BEFORE YOU TODAY
FOR CONSIDERATION SENATE BILL
TWO SIX THREE. IS A CONTINUED
PRODUCT OF MORE THAN TWO DECADES
AND NOW THREE MAJOR. ANNUITY
SUITABILITY REFORM SEEN IN OUR
STATE GIVING THIS ONGOING
ACTIVITY AT THE END THE ICY.
FIRST BACK IN TWO THOUSAND
THREE. THEN IN TWENTY TWELVE AND
NOW THIS YEAR HERE TODAY. TODAY
TWENTY SEVEN STATES HAVE ADOPTED
VERSIONS OF THIS AND HERE'S THE
UNITY SUITABILITY MODEL THEREBY
AVOIDING DUAL REGULATION OF
FIXED ANNUITIES BY THE STATE'S
DEPARTMENT OF INSURANCE. AND THE
FEDERAL GOVERNMENT BY TWENTY
TWENTY FIVE. A NECESSARY STEP
FURTHER MANDATED WITH THE
ENACTMENT OF THE FEDERAL DODD
FRANK WALL. NOTABLY REQUIRES ALL
RECOMMENDATIONS FOR ANNUITIES.
MADE BY INSURANCE AGENTS BROKERS
AND INSURANCE COMPANIES TO BE IN
THE BEST INTEREST OF THE
CONSUMER AND THAT THEY MAY NOT
PLACE THEIR FINANCIAL INTERESTS
AHEAD OF THE CONSUMERS INTEREST
IN MAKING THAT ANY
RECOMMENDATIONS. THIS REFORM IS
ESSENTIAL IN ORDER TO INSURE
INSURANCE COMPANIES AND LICENSED
PRODUCERS WHO SELL ANNUITIES ACT
IN THE BEST INTEREST. OF THE
CONSUMER DURING THE
RECOMMENDATION PURCHASE AND
REPLACEMENT OF AN ANNUITY.
ANNEXED AS AN EXTENSION OF THAT
AS CONTAINED IN THE NXT MODEL
SALES CONTESTS SALES QUOTAS
PRIZES AND BONUSES ARE ALL
PROPOSED IN SB TWO SIX THREE
THREE TO BE ELIMINATED. FROM
BEING GIVEN OUT AS INSURANCE
COMPANY INCENTIVES TO INSURANCE
AGENTS AND BROKERS. IN ORDER TO
ENSURE THE CONSUMERS BEST
INTERESTS AND HELP IT ADDRESS
SOME OF THE EGREGIOUS AND
NUMEROUS. INSURANCE ABUSES AN
OVERLY AGGRESSIVE SALES TACTICS
IN OVER THE YEARS. MR LAUDA
BELIEVES THAT CALIFORNIA CAN AND
SHOULD DO MORE TO STOP THE
FINANCIAL PIECE OF OUR SENIORS.
AND OTHER VULNERABLE INDIVIDUALS
ESPECIALLY AS IT PERTAINS TO
FILL OTHER ENTITIES. SB TWO SIX
THREE WILL HELP BRING ABOUT.
MUCH NEEDED REFORM AND PROVIDE
NEW SIGNIFICANT CONSUMER
PROTECTIONS. WITH HIGHER
STANDARDS OF CONDUCT. STRONGER
ENFORCEMENT TOOLS FOR THE
REGULATORY. MORE RIGOROUS
COMMUNICATION REQUIREMENTS
BETWEEN THE CONSUMER WITH
PRODUCERS AND THE INSURANCE
COMPANY. AN ADDITIONAL REQUIRE
TRAINING. FOR TO PRODUCERS AMONG
OTHER CONSUMER PROTECTIONS.
SIGNIFICANT HAVE BEEN TAKEN IN
ORDER TO- TO HELP ADDRESS
CONCERNS FROM THE OPPOSITION
AGAIN IN PARTNERSHIP WITH
COMMITTEE STAFF. I HAVE INJURY
ANDRIOD SPOKE WITH ME. HERE GOOD
ED WITH ME WHO'S AS THE IN THE-
FILLED RAY AND A UNDERGRAD
BUREAU HAS SEX SEEN MANY. OUT
THERE. IN THE REAL WORLD FOR
THE- OF THIS CONCERN PROTECTION
WHICH- SOONER HERE TO HELP
ANSWER ANY. WHEN I THANK YOU FOR
YOUR CONSIDERATION THEY CAN ASK
RESPECTFULLY FOR YOUR EYES VOTE
. THANK YOU. GOOD AFTERNOON
SHARED JUST CONFIRM THAT I HAVE
TWO AND A HALF MINUTES LEFT YOU
HAVE MORE THAN THAT ALL RIGHT
HAVE A REMAIN UNSIGNED. BOB
THANK YOU CHAIR SENATORS- MY
NAME IS LISA COLEMAN ON THE
LEGISLATIVE DIRECTOR WITH THE
CALIFORNIA COMMISSION ON AGING.
AND I'M PLEASED TO TESTIFY ON IN
SUPPORT OF SB TWO SIX THREE. THE
COMMISSION IS ESTABLISHED IN THE
STATE STATUTE AS AN INDEPENDENT
ADVISORY BODY AND THE PRINCIPLE
ADVOCATE BEFORE THE GOVERNOR AND
THE LEGISLATURE STATE AND
FEDERAL AGENCIES ON BEHALF OF
CALIFORNIANS OLDER ADULTS. THE
COMMISSION STAFF RESPOND TO
REQUESTS FROM OLDER ADULTS
SEEKING SUPPORT AND GUIDANCE TOO
OFTEN AFTER HAVING EXPERIENCED A
NEGATIVE OR TRAUMATIC EXPERIENCE
. SB TWO SIX THREE IS THE
CONSUMER PROTECTION BILL THAT
MAKES IT AT ABUNDANTLY CLEAR
EXPANDING THE CURRENT DEFINITION
OF BEST INTEREST OBLIGATION. TO
INCLUDE THE ADMONITION THAT TO
THE BEST OF THE AGENT'S
KNOWLEDGE AT THE TIME OF THE
RECOMMENDATION THE PRODUCT BEING
RECOMMENDED DOES NOT PLACE THE
AGENTS FINANCIAL INTERESTS.
ABOVE THE CONSUMERS. TO BE CLEAR
THE COMMISSION BELIEVES THAT THE
VAST MAJORITY OF INSURANCE
PROVIDERS HAVE THE VERY BEST OF
INTENTIONS AND ARE SEEKING TO
ACT AND MAKE RECOMMENDATIONS. TO
THE TWO IN THE BEST INTEREST OF.
THEIR CLIENTS. AND YET WITHOUT
TRAINING SPECIFIC TO ANNUITIES
IT IS UNDERSTANDABLE IF A WELL
MEANING AGENT APPLIES IF
FINANCIAL STRATEGY THE DOES NOT
CONSIDER THE CLIENT AS AN OLDER
ADULT. SB TWO SIX THREE PROVIDES
A REASONABLE SAFEGUARD REQUIRING
THOSE THAT WISH TO SELL
ANNUITIES. TO COMPLETE A
TRAINING COURSE APPROVED BY THE
INSURANCE COMMISSIONER. IN TWO
THOUSAND NINETEEN IT INTO TWO
THOUSAND NINETEEN PUBLISHED
SURVEY OF CONSUMER FINANCES BY
THE BOARD OF GOVERNORS OF THE
FEDERAL RESERVE SYSTEM. THEY
REPORTED THAT THE MEDIAN
FINANCIAL ASSET FOR AMERICANS
OVER THE AGE OF SIXTY FIVE. IS
JOSS FIFTY FOUR THOUSAND DOLLARS
. IN CALIFORNIA FROM. TWO
THOUSAND SEVENTEEN TO TWO
THOUSAND TWENTY ONE THE NUMBER
OF OLDER ADULTS THOSE OVER FIFTY
FIVE. WHO SOUGHT HOMELESS
SERVICES THE VAST MAJORITY FOR
THE VERY FIRST TIME. HAS
INCREASED BY OVER EIGHTY FOUR
PERCENT. MORE THAN ANY OTHER AGE
GROUP. SIMPLY PUT WE HAVE A
GROWING POPULATION OF OLDER
ADULTS WITH TOO MANY OF THEM
HAVING VERY MODEST FINANCIAL
ASSETS WITH MOST OF THEM NOT IN
A POSITION TO RETURN TO THE JOB
MARKET IF THEY EXPERIENCE A
MONETARY MISSTEP. I URGE YOU FOR
THOSE OLDER ADULTS WHO CANNOT
MAKE UP FOR THE LOSS IT ISN'T
TOO GREAT A BURDEN TO REQUIRE A
BIT MORE OF THESE EXPERTS THAT
SELLING NOTICE. THANK YOU THANK
YOU. NOW WE WILL MOVE INTO
ANYONE AND ROOM WISHING TO.
ASSIGNMENT A MOVE OVER TO THE
OPPOSITION BUT I WANTED TO MAKE
A POINT HERE NORMALLY WE DON'T
ALLOW THE- AT THAT MUCH TIME FOR
TESTIMONY BY WE KNOW THAT WE
HAVE FOR PEOPLE WHO WISH TO
OPPOSE THIS BILL SO I WANTED TO
BE. MINDFUL OF THAT DATA BUT
WITH YOU KNOW EIGHT MINUTES EACH
PERSON WILL GET TWO MINUTES AND
I WANT YOU TO CONSIDER THAT IF
YOU GOAL. FURTHER I WILL REMIND
YOU BECAUSE YOU WILL BE TAKING
SOMEONE ELSE'S TIME SO AT THIS
POINT OUT WE WILL MOVE ON. TO
THOSE WISHING TO OPPOSE THE BILL
AND ARE WE WILL START HERE WITH
MATH POWERS FROM ACL HEIC. YOU
MAY PROCEED AND AGAIN I WANNA
REMIND YOU WITH STRICT. RULES
HERE THINK ONE WHEN IT BEGAN
RUBIO I. GOOD AFTERNOON TO RUBIO
AND MEMBERS OF THE COMMITTEE
CENTER DODD THAT POWERS THE- OF
CAL LIFE AND HEALTH INSURANCE
COMPANIES ARE MEMBERS ALONG WITH
OUR NATIONAL COUNTERPART THE
AMERICAN COUNCIL OF LIFE
INSURERS. ACCOUNT 498% OF THE
ANNUITY MARKETPLACE IN
CALIFORNIA A WE HAVE A OPPOSE
UNLESS AMENDED POSITION ON THIS
BILL. BUT THAT'S WHAT I'D LIKE
TO START BY THANKING SENATOR
DODD AYE HIS STAFF- TI THE
COMMITTEE- COMMITTEE STAFF. FOR
ALL THEIR HARD WORK ON THIS
BILL. WHAT WE DO CONTINUE TO
HAVE THAT OPPOSE UNLESS AMENDED
POSITION- WE RECOGNIZE WITH THE
MAMMOTH SENATORS ACCEPTING THE
BILL IS SIGNIFICANTLY IMPROVED.
ARE FUNDAMENTALLY WE AGREE WITH
SENATOR DODD AND COMMISSIONER
LARA. THAT CALIFORNIA SHOULD
ENHANCE. OUR EXISTING ANNUITY
SUITABILITY STANDARDS WE ALSO
BELIEVE THAT THE ANY I SEE BEST
INTEREST MODEL IS THE PATH
FORWARD. THIS IS BILLS
INTRODUCED WE HAVE ADVOCATED FOR
CONFORMITY WITH THE ANY I SEE
MODEL WHICH IS NOW BEEN APPROVED
IN A BIPARTISAN MANNER IN MORE
THAN TWO THIRDS OF ALL STATES.
ARE DATING BACK TO THE EARLY TWO
THOUSANDS THERE'S A HISTORICAL
PRECEDENT FOR CLOSE CONFORMITY
WITH THE NATIONAL SALES
STANDARDS. WE'RE ASKING. AT THIS
BILL TAKE A SIMILAR APPROACH.
WELL THERE ARE A HANDFUL.
OUTSTANDING IS. NINETEEN FOR. A
REAL TO THE SCOPE THE BILL THE
DUTY CARE AND THE CAN PRO. A WE
THINK ISSUE ARE SO. ARE AND THE
BILL SHOULD CONTINUE TO MOVE
FORWARD IN THE PROCESS. WE'RE
HAPPY TO CONTINUE TO WORK WITH
THE SENATOR A CHIEF DEPUTY
MICHAEL MARTINEZ AND HIS STAFF
AND ALL STAKEHOLDERS. I BELIEVE
THAT WE SHARE THE SAME. GOALS OF
HELPING CALIFORNIA CONSUMERS
MAINTAIN ACCESS TO SUITABLE
PRODUCTS. SOLD BY PRODUCERS
ACTING IN THE CONSUMER'S BEST
INTEREST WHILE ALSO MAINTAINING
A ROBUST MARKET PLACE FOR THIS
IMPORTANT RETIREMENT SAVINGS
PRODUCTS. THANK YOU VERY MUCH
FOR TIME. THANK YOU. AND NOW WE
WILL MOVE OVER TO SHARE MAKE YOU
I. WHO WILL BE PRESENT IN
OPPOSITION YOU MAY PROCEED AND
AGAIN REMIND YOU OF YOUR TIME
CONSTRAINTS THANK YOU THANK YOU.
GOOD AFTERNOON SHERRY MCCUE
REPRESENTED THE NATIONAL
ASSOCIATION OF INSURANCE AND
FINANCIAL ADVISORS. I WOULD LIKE
TO ECHO MISTER POWERS HIS
COMMENTS AND JUST SIMPLY ADD THE
NAY FOR CALIFORNIA WAS OPPOSE
UNLESS AMENDED. TO THE BILL
HOWEVER WITH THE AMENDMENTS THAT
THE AUTHORS AGREED TO TAKE WE
ARE HAPPY TO SEE THE BILL MOVE
FORWARD THIS AFTERNOON AND LOOK
FORWARD TO CONTINUING TO WORK
WITH THE AUTHOR AND- OTHERS. TO
ADDRESS A FEW REMAINING
CONCERNS. WOULD LIKE TO THANK
THE COMMITTEE THE AUTHOR AND THE
SPONSOR FOR WORKING WITH US AND
WE LOOK FOR TO FURTHER
DISCUSSIONS ON THE REMAINING
VERY FEW ISSUES LEFT TO DISCUSS.
THANK YOU THANK YOU- AT THIS
POINT I WOULD LIE TO MY BRAIN.
BROWN I HAND FROM LIFE INSURANCE
CONSUMER ADVOCACY CENTER TEST
SPEAK OUT ONCE AGAIN I WANT TO
REMIND YOU OF THE STRICT
GUIDELINES THANK THANK YOU MADAM
CHAIR AND MEMBERS I'M BRIAN
BROSNA HAND EXECUTIVE DIRECTOR
OF THE LIFE INSURANCE CONSUMER
ADVOCACY CENTER. WERE LIKE ACT.
ALTHOUGH S. B. TWO SIXTY THREE
STARTED OUT AS A STRONG CONSUMER
PROTECTION BILL. INDUSTRY
AMENDMENTS HAVE WEAKENED THE
BILL TO THE POINT WHERE. OUR
GROUP AND A COALITION OF
CONSUMER GROUPS US FORCE TO
OPPOSE IT. WE OPPOSE THE BILL
BECAUSE IT IS LIMITED TO
ANNUITIES AND DOES NOT INCLUDE
INVESTMENT TYPE LIFE INSURANCE.
WE OPPOSE THE BILL BECAUSE IT
MISLEADS CONSUMERS. INTO
THINKING THAT THE AGENT IS
REQUIRED OR TO ACT IN CAN. BEST
INTEREST. ALTHOUGH THE MARCH
SEVEN VERSION OF THE BILL.
REQUIRED AGENTS TO CONSIDER ONLY
THE INTERESTS OF THE CONSUMER.
THE APRIL SEVENTEEN VERSION
ADOPTS THE M. A. I. C. LANGUAGE
THAT WAS DRAFTED BY INDUSTRY.
AND ALLOWS AGENTS TO CONSIDER
THEIR OWN INTERESTS INTO WEIGH
THEM AGAINST THE CONSUMER'S
INTEREST. WE OPPOSE THE BILL
BECAUSE IT HAS AN UNCLEAR SAFE
HARBOR PROVISION I APPRECIATE
THAT THE SENATOR HAS INDICATED
THAT THAT WILL BE SUBJECT TO
FURTHER DISCUSSION- AND- I
IMPLORE YOU THAT THERE IS TO NOT
TO ADOPT TO ADDITIONAL
AMENDMENTS THAT WERE DISCUSSED
HERE THAT. THIS MORNING. THESE
AMENDMENTS WOULD WORK ONE OF THE
BIGGEST FRAUDS ON. CALIFORNIA
CONSUMERS THAT HAS EVER BEEN
PERPETRATED WITH THE CONSENT OF
THE LEGISLATURE. ALTHOUGH THE
BILL REQUIRES AGENTS TO DISCLOSE
MATERIAL CONFLICTS OF INTEREST.
THE AMENDMENTS WOULD CHANGE THE
DEFINITION OF MATERIAL CONFLICT
OF INTEREST TO EXCLUDE CASH AND
NON CASH COMPENSATION. THIS
WOULD EXEMPT 99% OF THE
CONFLICTS OF INTEREST FROM THE
SCOPE OF THE BILL. AN AGENT
WOULD BE REQUIRED TO DISCLOSE
STOCK OWNERSHIP IN THE LIFE
INSURANCE COMPANY BUT NOT THE
FORTY THOUSAND DOLLAR COMMISSION
THAT THE AGENT COULD EARN BY
CONVINCING THE CONSUMER TO BUY
THE PRODUCT. IT IS POSITIVELY
ORWELLIAN TO DEFINE THE CONFLICT
AWAY SO CONSUMERS THINK
CONFLICTS OF INTEREST ARE BEING
DISCLOSED WHEN THEY ARE NOT. IN
A RELATED AMENDMENT WOULD
ELIMINATE THE REQUIREMENT TO
DISCLOSE COMPENSATION- AGENT
COMPENSATION WE THINK THESE
AMENDMENTS MUST BE REJECTED EVEN
IF THE COMMITTEE IS INCLINED TO
ADOPT THE BILL IN ITS ALREADY
WEAKENED APRIL SEVENTEENTH FOR.
THANK YOU VERY MUCH. THANK YOU
FOR YOUR TESTIMONY- OUR NEXT I'D
LIKE TO INVITE ROBERT HER OUT
FROM CONSUMER FEDERATION OF
CALIFORNIA. THANK YOU SEARCHES
ONCE AGAIN REMINDING OF THE
CONSTRAINTS OF COURSE THANK YOU
MADAM CHAIR AND MEMBERS ROBERT
FOR ALL EXECUTIVE DIRECTOR OF
THE CONSUMER FEDERATION
CALIFORNIA AND A FORMER DEPUTY
INSURANCE COMMISSIONER FOR
ALMOST SIX YEARS AT THE
DEPARTMENT OF INSURANCE. CFC
ALONG WITH UNITED POLICY HOLDERS
THE CENTER FOR ECONOMIC JUSTICE
THE CONSUMER FEDERATION OF
AMERICA AND LIKE I COULD YOU
JUST HEARD FROM ARE OPPOSE
UNLESS AMENDED. I RESPECT
CENTERED I'D GREATLY AND WE WORK
WITH HIM ALL THE TIME ON A WIDE
RANGE OF ISSUES YESTERDAY I IN
FACT I THINK I TESTIFIED IN
SUPPORT OF THREE OF YOUR BILLS.
IF I'M NOT MISTAKEN BUT THIS
PARTICULAR BILL IN ITS CURRENT
FORM AND AS NOW AMENDED WILL
HARM CONSUMERS. ORGANIZATIONS
APPLAUDED THE MARCH SEVENTH
VERSION OF THE BILL. NORMALLY
THAT BEGINS A MEANINGFUL
STAKEHOLDER NEGOTIATION WITH ALL
STAKEHOLDERS NOT HERE. CONSUMER
ORGANIZATIONS HAVE BEEN EXCLUDED
FROM THAT PROCESS WE ONLY SEE
SOMETHING AFTER THE DEAL WAS
DONE. CONSUMER GROUPS AND
VICTIMS ARE TRUE STAKEHOLDERS
NOT AN AFTERTHOUGHT. IN THE
STREET ONCE THE BILL TO LOOK
JUST LIKE THE NERC MODEL THEY
HAD A HEAVY HAND IN DRAFTING. A
MODEL WHICH THE CURRENT
COMMISSIONER MADE VERY CRITICAL
PUBLIC COMMENTS ABOUT IN THE
PAST. SUCH AN APPROACH LEADS
CONSUMERS OUT IN THE COLD. YEAH
HERE WE ARE WITH BASICALLY THAT
MODEL AND THE TINY PARTS THAT GO
BEYOND IT ARE UNDER RELENTLESS
ATTACK. NEW YORK WITH THE
REGULATION ONE EIGHTY SEVEN MADE
CONSUMER PROTECTION A PRIORITY.
THAT IS THE APPROACH THE
CALIFORNIA SHOULD BE TAKING.
INDUSTRY SUIT IN NEW YORK AND
ULTIMATELY LOST. AND CONSUMERS
ONE. NOT HERE. THE BILL HAS
THREE BIG PROBLEMS ONE IT
DOESN'T INCLUDE LIFE INSURANCE
WHICH IS SOLD BY THE EXACT SAME
AGENCIES ANNUITIES AND HAS SIX
TIMES THE NUMBER OF ANNUITY
COMPLAINTS BY CDI'S ON DATA.
SOME LIFE INSURANCE PRODUCTS
HAVE AN 8290% FAILURE OR LAPSE
RATE WHICH RAISES MASSIVE RED
FLAGS. TO THERE'S A GIGANTIC
LOOPHOLE IN THE SAFE HARBOR
PROVISIONS THAT TO LINK UP TO
RULE WE LOOK FORWARD TO
CONTINUING TO TALK ABOUT THAT.
THREE THE CONSUMERS TRUE BEST
INTEREST IS PLACED BEHIND THE
NARROW ECONOMIC INTERESTS OF
INDUSTRY AND AGENTS. THIS MEANS
THE FIVE THOUSAND COMPLAINTS IN
FIVE YEARS THAT CITY I HAS THEIR
OWN DATA WILL JUST GROW. THE
INSURANCE INDUSTRY ALWAYS CRIES
WHERE THE COMPLAINTS. HERE THEY
ARE FIVE THOUSAND OF THEM. AND
MANY RIPPED OFF CONSUMERS DON'T
EVEN FILE A COMPLAINT BECAUSE OF
SHAME CONFUSION. ABOUT HOW TO
COMPLAIN AGE COGNITIVE DECLINE
AND OTHER FACTORS. THIS BILL HAS
DELAYED IMPLEMENTATION UNTIL
TWENTY TWENTY FIVE. WHY THE RUSH
HOLD THIS BILL AS A TO YOUR BILL
JUST LIKE YOU DID WITH THE OTHER
BILL THAT WE HEARD EARLIER IN
THIS HEARING. AND LET'S GET THIS
RIGHT FOR CONSUMERS WE
RESPECTFULLY URGE A NO VOTE.
THANK YOU AND I WANT TO THANK
ALL THE SPEAKERS FOR REALLY
ADHERING TO THE TIME. LINES HERE
I THANK YOU- MISTER MORALE FOR
ALL THAT YOU DO ON BEHALF OF
CONSUMERS AND EVERYONE THAT.
CAME OUT TO SPEAK OUT MANY NOW
I'LL TURN IT OVER TO- HEARING
THE COMMITTEE HEARING ANYBODY
WISHING TO SPEAK IN SUPPORT. YOU
MAY DO SO AT THIS TIME. WALDRON
ANYONE WISHING TO SPEAK IN
SUPPORT. OKAY ANYBODY IN THIS
ROOM WISHING TO SPEAK IN
OPPOSITION NOW IT'S THE TIME.
MADAM CHAIR COMMITTEE MEMBERS
KERR KIMMEL SHOW ON BEHALF OF
THE INSURED RETIREMENT INSTITUTE
WITH AN OPPOSE UNLESS AMENDED
POSITION. MANY THANKS TO THE
COMMITTEE STAFF FOR THEIR WORK
ON THIS AND IS CENTERED ON HIS
TEAM FOR THEIR WORK PRECIADO.
THANK HIM. J. ARMAND FELICIANO
REPRESENTING CONSECUTIVELY ON A
POST ON THIS AMENDED BY
THINKCENTRE DIED YEAH I STAFF
WORKING WITH US. THANK YOU.
AFTER JOHN NORWOOD ON BEHALF OF
THE TO CHURCH AGES SO SHE OF
CALIFORNIA AND AMERICAN FIDELITY
- LIFE INSURANCE GROUP AND WE'RE
OPPOSE UNLESS AMENDED BUT- A
SUPPORT THE BILL IN TERMS OF IT
MOVING FORWARD. AND THANK.
CENTER DODD THE STAFF.
DEPARTMENT THANK YOU. THANK YOU.
ANYONE HERE AND THE COMMITTEE
HEARING WISHING TO SPEAK. OKAY
SO NOW- PLEASE UP THE LINES WE
WILL FROM US. A AND- THE- AT
THIS. THANK YOU MADAM CHAIR COME
UP TO OR SUPPORT PRESS B. TWO
SIXTY THREE PLEASE PRESS ONE
THAN THE EURO AT THIS TIME. IT
WOULD BE A COUPLE QUEUEING UP.
ONE WILL ONLY GET THE LINE
NUMBERS.
ANYONE QUEUING UP. WE ARE WILL
BE JUST A MOMENT OKAY THANK YOU
. AND AS YOU'RE DOING THAT I
WANT TO REMIND THOSE CALLING
THAT- PLEASE STATE YOUR NAME AND
YOUR POSITION. IT'S ME TWO ONLY
NO TESTIMONY.
ONE MOMENT I'M SURE WILL TAKE
CARE OF THIS WILL BE RIGHT BACK
WITH YOU. THANK YOU. SO ONCE
AGAIN ANYONE WISHING TO COLIN-
PLEASE STATE YOUR NAME
AFFILIATION AND POSITION ONLY.
WE WILL WAIT A COUPLE SECONDS.
MODERATOR ARE YOU STILL THERE. I
KNOW WE WERE HAVING TECHNICAL
DIFFICULTIES JUST WANNA MAKE
SURE THAT WE HAVE THE MODERATOR
ON THE PHONE. BRIAN OKAY. K.
MODERATOR A COUPLE MORE SECONDS
AND THEN WE'RE GONNA TURN IT
OVER TO HIM FOR CAUSING CRIMINAL
POLICIES APOLOGIZE FOR THE DELAY
WE HAD A LITTLE TECHNICAL ON THE
OTHER SIDE WE'RE GONNA GO NOW TO
LINE NUMBER. TWO FIVE THREE ONE
TWO FIFTY THREE GO AHEAD PLEASE
. TWENTY FIFTY THREE LINES OPEN
GLENN. TIM O'BRIEN REPRESENTING
THE FEDERATION OF AMERICANS FOR
CONSUMER CHOICE AND WE STAND
WITH THE POSITION OF A CLOSE
UNLESS AMENDED THANK YOU. LINE
TWO OH SEVEN GO AHEAD PLEASE.
WALKER A LOT APPROXIMATELY
EIGHTY TWO THOUSAND DOLLARS
SHE'S JUST LEARNING THEIR
POSITION MODERATOR. WATER OPPOSE
THIS POLICY. AND BUILT THANK YOU
VERY WE HAVE ONE MORTGAGE JUST A
COUPLE CLICKS HERE. HELLO NEW
ONE COMMENT SO WE'RE GOING TO
CLIMB NUMBER TWO SEVENTY FIVE GO
AHEAD PLEASE. THANK YOU SEVENTY
FIVE IS GOING. ALL. TWO SEVENTY
FIVE A OPEN. ALL. MELCHER REDUCE
MORE UP THIS TIME WHERE TO GO
NEXT JULY TO SEVENTY EIGHT
TWENTY EIGHT GO AHEAD. TWO
SEVENTY AIRLINES OPEN GLENN. SO
MANY AMERICAN NOVEL FROM SAID I
SUPPORT SB THREE REPORT. THANK
YOU. NUMBER THANK YOU IN LINE TO
SEVENTY NINE GO AHEAD PLEASE.
TWO SEVENTY NINE COHEN. THE
MANAGER WE HAVE NO ADDITIONAL
CALLS IN QUEUE FOR COMMENT.
THANK YOU VERY MUCH MODERATOR
NOW WE WILL TURN IT OVER TO- OUR
COMMITTEE ANY QUESTIONS. FROM
OUR MEMBERS ANYONE WISHING TO
SPEAK. ANY COMMENTS QUESTIONS.
WE'RE DONE WITH THE DEFINITELY
YES WE ARE WAITING FOR THE LADY
. FOLLOWING THIS. I'M SORRY IT'S
ME YEAH- SORRY ABOUT THAT SO
MISTER KNOW WOULD YOU LIKE TO
YES THANK YOU- SENATOR I-
WITHOUT THE- WORKING ON
AMENDMENTS I WOULD HAVE BEEN A
PO TO THE BILL I'M GONNA OFF
BECAUSE I AM VERY. THAT KNOWING
YOUR COLLABORATIVE SKILLS THAT
YOU'LL CONTINUE TO WORK ON THE
BILL SO YOU JUST TRUST ME THAT
MUCH. THANK YOU CENTER IF THAT
THANK YOU ANYONE- SENATOR
ABROAD- OF GUILT THANK YEAH I
MEAN I'M I'M GONNA GIVE ANOTHER
INCH HERE HAS- I DO UNDERSTAND
THAT YOU HAVE ACCEPTED ALL THE
AMENDMENTS THAT WERE THAT WERE
SUGGESTED M. IN THE COMMITTEE
ANALYSIS AT WHICH TO ME RESULT
IS A GREATLY IMPROVED VERSIONS I
WANT TO THANK YOU FOR THAT AND-
COMMEND YOU AND THE STAFF FOR
WORKING TOGETHER- I KNOW THE
OPPOSITION HAS ALSO BEEN WORKING
TO PROTECT CONSUMERS. AND ALL
THE INDIVIDUALS THAT ARE
EMPLOYED IN OUR DISTRICTS SO
THANK YOU ALSO FOR BRINGING YOUR
VOICE FORWARD- I WILL BE A
SUPPORT YOUR BILL TODAY AND I'LL
MOVE WHEN APPROPRIATE- BUT I DO
UNDERSTAND THAT THERE'S STILL A
FEW AMENDMENTS THAT YOU'LL BE
ADDRESSING SO I TRUST YOU. THIS
MUCH MORE CENTER NEAR LOS I'M
GONNA ADD ON TO YOURS AND AB AND
URGE YOU TO CONTINUE YOUR GOOD
WORK TO RESOLVE THESE ISSUES
THANK YOU VERY MUCH THANK. YOU
KNOW I THINK ANYBODY ELSE. YOU
KNOW I JOIN IN TRUST ME DOT. I'M
JUST. ALL RIGHT SOUNDS GREAT
LOOK THANK YOU KNOW WHAT THAT
THE. THANK YOU SO AM WANT TO
TURN IT. I JUST MISSED DODD HE
REALLY HOW- YOU KNOW COME TO THE
TO. AND I KNOW THAT THIS IS NOT
A JUST ONE SIDE THE OTHER
THERE'S BEEN TO. ON BOTH SIDES
WITH LOT OF. AND THIS IS AN
IMPORTANT. AND- YOU KNOW I. THE
CONSUMER. FEDERATION OF
CALIFORNIA'S CONCERN IN EVERYONE
ELSE'S CONCERNS BY JOB YOU KNOW
THIS IS A WORK IN PROGRESS AS
STATED THERE'S STILL A LOT OF
WORK TO BE DONE AND I WANT TO.
COMMAND DAHLAN COMMISSIONER
BECAUSE A LOT OF- YOU KNOW AS I
KNOW HIM PERSONALLY I KNOW THAT
HE'S ALWAYS VERY CONCERNED
WITHOUT CONSUMER PROTECTIONS
AND- IN DOING WHAT'S BEST FOR
CALIFORNIANS SO THANK YOU
MICHAEL FOR BEING HERE- SO ONCE
AGAIN I REALLY JUST WANT TO
THANK YOU- THIS IS BEEN AN
ONGOING PROCESS A LOT OF WORK
AND- AND AGAIN TO THOSE THAT
STAYED AT THEIR OPPOSITION WE
WILL CONTINUE TO. HELLO MISTER
DOT TO WORK WITH STAKEHOLDERS-
YOU KNOW BECAUSE OF FUND THAT
LINES IN TERMS OF POLICY. A
COMMITTEE HEARINGS YOU KNOW WILL
ALLOW HIM TO CONTINUE WORK ON
THIS BILL UP. AS IT MOVES
FORWARD- AT THIS POINT- I
UNDERSTAND THAT. SENATOR NGUYEN
WILL NOT BE PRESENT TODAY
CORRECT. AND SO SHE WILL NOT BE
HERE TO TAKE A VOTE SO AT THIS
POINT I WILL TURN IT OVER TO.
OUR MANUFACTURE TERRY OUT PLEASE
CALL- I AM SO SORRY SENATOR
DODD. YES WOULD YOU LIKE TO GET
THE CHAIR AND STAFF- YEAH THANK
YOU VERY MUCH FOR- YOU KNOW
HELPING ME- YOU KNOW GET THIS
BILL TO WHERE IT IS TODAY WE I
KNOW WE GOT- WORK TO DO AND- WE
WILL TO THE- INSURANCE
COMMISSIONER AND- AND EVERYBODY
ON. BOTH SIDES EVEN THE
CONSUMERS. YEAH WHEN I ASK YOU
YOUNG WE'RE NOT GOING TO MAKE
THIS BILL TO YOUR BILL I JUST
THINK THAT WE'VE GOT TO MOVE
FORWARD WITH THAT. THIS POLICY
GET IT ON THE BOOKS IF THERE'S-
YOU KNOW SOMETHING THAT COULD BE
DONE DOWN THE LINE TO STRENGTHEN
THE STATUS IS A TOPIC. FOR
ANOTHER DAY- BUT- YOU I THINK IT
THE IT. AT THE END OF THE DAY
WHAT WE GOT A LOOK AT IS WHAT
THE ART OF THE POSSIBLE IS. HEY
AND I THINK IS GOOD WORKING GET
. TO SO THAT WE GET OTHER.
COUPLE THE MEMBER- ACROSS THE
FINISH LINE RESPECTFULLY ASK
YOUR OB- BEFORE I TAKE A VOTE I
WANTED TO ASK OUR- SERGEANTS
THAT WE CAN FIND OUT WHERE
MISTER PORTANTINO S. I'M GONNA
TURN IT OVER TO A MADAM
SECRETARY PLEASE CALL THE ROLL.
OKAY THE MOTION IS TO PASS AS
AMENDED TO APPROPRIATIONS. RUBIO
I. WHEN OPERETTA GIL. I DON. I
JONES. HI NEIL. PORTANTINO.
SO RIGHT NOW WE HAVE THREE
VOTES- I UNDERSTAND MISTER
PORTANTINO IS PRESENTING A BILL
SO WE WILL HOLD THE ROLE OPEN
FOR ABSENT MEMBERS ARE I WILL
TAKE A FIVE MINUTE RECESS AS I
UNDERSTAND HE IS GONNA TAKE A
LITTLE WHILE SO AGAIN WE'RE
GONNA PUT THAT THE ROLE ON HOLD
AND TAKE A FIVE MINUTE RECESS
THANK YOU.
HOW TO RESET AS MR PORTANTINO
HAS JOINED US AND SO WE WILL NOW
OPEN THE ROLE OF MADAM SECRETARY
PLEASE CALL THE ROLL THE MOTION
IS TO PASS AS THE MEN INTO
APPROPRIATIONS THE CHAIRS VOTING
BY PORTANTINO. THAT'S WHAT THE
VOTERS FOR YES. SO THE BILL IS
OUT I DO PASS AS AMENDED FOUR
ZERO AND THANK YOU EVERYONE FOR
JOINING US HERE TODAY THE
COMMITTEE HEARING IS NOW
ADJOURNED THANK YOU.