THE SENATE COMMITTEE ON BANKING
AND FINANCIAL INSTITUTIONS WILL
COME TO ORDER GOOD AFTERNOON AS
WE CONTINUE TO TAKE SOME
PRECAUTIONS TO MANAGE ONGOING
COVID 19 RISKS. THE SENATE
CONTINUES TO WELCOME THE PUBLIC
AND HAS PROVIDED ACCESS TO BOTH
IN PERSON AND TELECONFERENCE
PARTICIPATION FOR PUBLIC
COMMENT. FOR INDIVIDUALS WISHING
TO PROVIDE PUBLIC COMMENT VIA
TELECONFERENCE, SERVICE
PARTICIPANT TOLL FREE NUMBER AND
ACCESS CODE IS POSTED ON OUR
COMMITTEE WEBSITE. I WILL
ANNOUNCE IT NOW, TODAY'S
PARTICIPANT NUMBER IS 877.
2268163. AND THE ACCESS CODE IS
5338635 WILL MAINTAIN THE QUORUM
DURING THE HEARING, AS IS
CUSTOMARY, AND ANY INDIVIDUAL
WHO IS DISRUPTIVE MAY BE
REMOVED. FROM THE REMOTE HEARING
FROM THE REMOTE MEETING SERVICE
OR HAVE THEIR THEIR CONNECTIONS
MUTED. WE ARE HOLDING OUR
COMMITTEE HEARINGS HERE IN THE O
STREET BUILDING. I ASK THAT ALL
MEMBERS OF THE COMMITTEE BE
PRESENT IN ROOM 2200. SO WE CAN
ESTABLISH QUORUM AND BEGIN OUR
HEARING. WE HAVE TWO BILLS ON
TODAY'S AGENDA. AND SINCE WE
DON'T HAVE QUORUM, WE'RE GOING
TO BEGIN AS. WE CAN. OKAY, SO WE
WILL GO AHEAD AND ESTABLISHED
QUORUM. IF WE CAN HAVE THE
COMMITTEE CONSULTANT, PLEASE
CALL THE ROLL. SENATOR LIMÓN
HERE. LIMÓN HERE, THE CHILD BUG.
BRADFORD BRADFORD HERE,
CABALLERO. DOLLY! TERRAZZO SO
HERE, HUESO. MEN MEN HERE,
PORTANTINO. PORTANTINO HERE.
ALRIGHT, WE HAVE ESTABLISHED
QUORUM. BEFORE WE HEAR FROM
AUTHORS. WE HAVE A B 244 IN THE
CONSENT CALENDAR. DO I HAVE A
MOTION FOR THE CONSENT? UH WE
HAVE SENATOR DURAZO, WHO MOVED
THE CONSENT CALENDAR. THE MOTION
TO ADOPT THE CONSENT CALENDAR.
WAS MAYBE SENATOR GRASSO, A
CONSULTANT. PLEASE CALL THE
ROLL. MOTION IS TO ADOPT THE
CONSENT CALENDAR. SENATOR LIMÓN.
I TRY BUG. BRADFORD BRADFORD. I
CABALLERO. DOLLY! TERRAZZO OH, I
HUESO. MEN. I PORTANTINO
PORTANTINO I WE HAVE FIVE. WE
HAVE FIVE VOTES, AND WE'LL KEEP
THAT OPEN FOR ABSENT MEMBERS.
NOW WE'RE GOING TO BEGIN BY
HEARING FROM THE AUTHOR WILL
START WITH ASSEMBLYMEMBER'S
CHEN, UH AND YOU MAY PRESENT
YOUR BILL A B 17 80 IF YOU'D
LIKE MEMBERS CAN COME HERE
PERFECT. THANK YOU, SENATOR
NUMBER 10. THANK YOU, MADAM
CHAIR. IT'S GREAT TO SEE YOU AND
THANK YOU FOR ALLOWING ME TO
PRESENT A B 17 80. I WANT TO
BEGIN BY THANKING THE COMMITTEE
FOR ALL THE TIME. THEY'RE HARD
WORK ON THIS MEASURE AND STATE
THAT WE'RE HAPPY TO ACCEPT. ALL
THE AMENDMENTS SUGGESTED.
CURRENTLY EXISTING LAW PROHIBITS
A CORPORATION FROM CONDUCTING A
MEETING OF SHAREHOLDERS REMOTELY
, HOWEVER, A MARCH 30TH 2020
GOVERNOR, GAVIN NEWSOM, SIGNED
EXECUTIVE ORDER AND 40 20. AS A
MEANS OF ADDRESSING THAT
CHALLENGES RESULTING FROM THE
COVID 19 PANDEMIC. UNFORTUNATELY
PROVISIONS WERE TEMPORARY AND
HAVE EXPIRED. THE EXECUTIVE
OFFICER HAD GIVEN MANY BENEFITS
TO THE COMMUNITY. BY
DRAMATICALLY INCREASING THE
NUMBER OF ATTENDEES AS
SHAREHOLDER MEETINGS AS WELL AS
THEIR ENGAGEMENT THAT BEING SAID
A B 17 80 WOULD BUILD UPON THE
EO AND AUTHORIZED THE BOARD
DETERMINED THAT IN MEETING MAY
BE CONDUCTED VIRTUALLY RATHER
THAN JUST IN PERSON. HERE TO
TESTIFY AS WITNESS TESTIMONY IS
KEN COWS FROM SEMPRA ENERGY AND
LOWER LARA FROM PSYCHIATRISTS IN
THANK YOU. WE'LL BEGIN. THANK
YOU VERY MUCH. MADAM CHAIR
MEMBERS, KEMP COWS ON BEHALF OF
SEMPRA IN SUPPORT OF THE BILL,
AS THE AUTHOR STATED, PRETTY
SIMPLE, STRAIGHTFORWARD SINCE
THE PANDEMIC WE'VE BEEN HOLDING
OUR MEETINGS REMOTELY WITHOUT
ANY ISSUE OR INCIDENT. WE
SUPPORT THE SUNSET PROVISION IN
THE BILL AND THEN ALSO THE
MODIFICATIONS TO REDUCE IT TO
THREE. UM WILL CONTINUE TO, UM,
PROVIDE UPDATES TO THE COMMITTEE
AND JUST LOOK FOR YOUR SUPPORT
ON A B 17 80. THANK YOU VERY
MUCH. LARA PERON BEHALF OF
SOUTHERN CALIFORNIA EDISON ALSO
IN SUPPORT, AND WE FEEL THIS
WILL HELP MODERNIZE TECHNOLOGY
ALONGSIDE OTHER STATES THAT HAVE
ALREADY MOVED IN THIS DIRECTION
. SO WE APPRECIATE YOUR SUPPORT
ON THIS, BILL. THANK YOU. THANK
YOU. ALL RIGHT, SO WE HAVE OUR
WITNESSES. UH ARE THERE ANY
OTHER WITNESSES IN THE ROOM WHO
WOULD LIKE TO TESTIFY AND
SUPPORT CNN. WE WILL NOW MOVE TO
THE WITNESSES WANTING TO TESTIFY
VIA TELECONFERENCE SERVICE
MODERATOR IF YOU COULD PLEASE
PROMPTLY INDIVIDUALS WAITING TO
TESTIFY IN SUPPORT OF A B 17 80.
WE CAN BEGIN YOU'D LIKE TO
COMMENT. SUPPORT OF A B 17 80
MEMBERS ONE AND ZERO AT THIS
TIME. IT WAS JUST A MOMENT.
PERSONAL TO LINE 1 71, PLEASE GO
AHEAD. GOOD AFTERNOON, MADAM
CHAIR AND MEMBERS ASHLEY JOHNSON
ON BEHALF OF SPECIFIC AS AN
ELECTRIC AND STRONG SUPPORT.
THANK YOU. AT THIS TIME, THERE'S
NO OTHERS IN QUÊ. THANK YOU VERY
MUCH. AND NOW THAT WE'VE HEARD
FROM SUPPORTERS, WE WILL MOVE TO
HEARING FROM OPPOSITION. THE
COMMITTEE RECEIVED NO WRITTEN
OPPOSITION TO THIS BILL. DO WE
HAVE ANYONE IN THIS HEARING ROOM
WHO WOULD LIKE TO SPEAK? IN
OPPOSITION. SEEN NO. ONE IN
OPPOSITION. THIS HEARING ROOM.
WE WILL MOVE TO ANY WITNESSES
WANTING TO TESTIFY VIA THE
TELECONFERENCE SERVICE MODERATOR
, IF YOU WOULD PLEASE PROMPT ANY
INDIVIDUALS WAITING TO TESTIFY
IN OPPOSITION OF A B 17 80. WE
WILL BEGIN IF YOU LIKE TO
COMMENT AND OPPOSITION FEMALE
RESPONDENTS ZERO AT THIS TIME.
AND WE HAVE NO ONE IN Q ALRIGHT
SCENE. NO ONE HAS SEEN NO. ONE
IN OPPOSITION MEMBERS ANY
QUESTIONS OR COMMENTS. ALL RIGHT
. WE HAVE A MOTION BY SENATOR
MIN TO MOVE THE BILL. ALRIGHT SO
WITH THAT SOMETHING MORE TIME.
WOULD YOU LIKE TO CLOSE? THANK
YOU MANAGE TREVOR. ESPECIALLY
ANSWER. I THOUGHT GREAT. THANK
YOU VERY MUCH. CAN WE PLEASE
CALL THE ROLL FOR ASSEMBLY BILL
17 80. AND THE MOTION IS DUE
PASS AS AMENDED, BUT FIRST
AMENDED AND RE REFERRED TO THE
COMMITTEE ON JUDICIARY. PLEASE
CALL THE ROLL. MOTION IS DUE
PASS AS AMENDED BUT FIRST AMEND
AND RE REFER TO THE COMMITTEE ON
JUDICIARY, SENATOR LIMÓN. I, BUT
YOUR BUG. BRADFORD. CABALLERO
BI H
I HUESO. MEN MEN. I PORTANTINO
PORTANTINO. AYE. WE HAVE WE HAVE
THE CAN YOU PLEASE CALL THE ROLL
FOR ANY ABSENT MEMBERS? SENATOR
BRADFORD BRADFORD. AYE. SENATOR
DELI. WES Ó. A CHILD BUG. GREAT
WE HAVE SIX HAS SIX VOTES, AND
WE'LL LEAVE THE ROLE OPEN FOR
ANY ABSENT MEMBERS. THANK YOU
VERY MUCH. ASSEMBLYMEMBER'S CHEN
AND NOW WE WILL IF WE CAN CALL
THE ROLE FOR CONSENT CALENDAR
FOR ABSENT MEMBERS. MOTION IS TO
ADOPT THE CONSENT CALENDAR, SO
BUG. CABALLERO CABALLERO I DALI
WEST. SO. WE HAVE SEX. WE HAVE
SIX AND WE WILL LEAVE THE ROLE
OPEN FOR ABSENT MEMBERS.
THANK YOU. CAN WE PLEASE LIFT
THE CALL ON THE CONSENT
CALENDAR? MOTION IS TO ADOPT THE
CONSENT CALENDAR. SENATOR PHð
CONSENT CALENDAR. SENATOR PHð-BUG. DOLLY! HUESO H
VEN. ALRIGHT WE WILL PUT THAT
ON CALL. NEXT. WE WILL LIFT THE
CALL FOR ASSEMBLY BILL 17 80,
PLEASE. MOTION IS DUE PASS AS
AMENDED, BUT FIRST AMENDMENT WE
REFERRED TO THE COMMITTEE ON
JUDICIARY SENATOR CO. BOGUE
DELI. HUESO. WEST. SO I. THAT
ONE ALSO HAS SEVEN. GREAT THANK
YOU.
RIGHT? CAN WE PLEASE LIFT THE
CALL FOR OUR CONSENT CALENDAR.
MOTION IS TO ADOPT THE CONSENT
CALENDAR. SENATOR OCHOA BOGUE.
DALLI DALLI? AYE. HAS EIGHT.
THANK YOU, AND NOW WE WILL LIFT
THE CALL FOR ASSEMBLY BILL 17
80. MOTION IS DUE PASS AS
AMENDED BUT FIRST AMEND AND RE
REFERRED TO THE COMMITTEE ON
JUDICIARY SENATOR OCHOA BOGUE.
DOLLY! DOLLY I THAT HAS EIGHT.
ALRIGHT CAN WE PLEASE, UH, LIFT
THE CALL? UH, FOR THE CONSENT
CALENDAR. MOTION IS TO ADOPT THE
CONSENT CALENDAR. SENATOR C
BUG? AYE. ACTUAL BUG. AYE. WE
HAVE NINE. WE HAVE NINE. GREAT
SO THEY CAN SENT. THE CONSENT
CALENDAR IS OUT WITH NINE VOTES
, AND NEXT WE HAVE ASSEMBLY BILL
17 80. CAN WE PLEASE LIFT THE
CALL ON THAT ONE MOTION IS DUE
PASS AS AMENDED, BUT FIRST AMEND
AND RE REFERRED TO THE COMMITTEE
ON JUDICIARY. SENATOR OCHOA BOG,
AYE. PHùBUG. I WE HAVE NINE.
THAT BILL HAS NINE VOTES AND
MOVES TO ASSEMBLY, JUDI
JUDICIARY AND SO WITH THAT WE
WILL CALL THE SENATE BANKING AND
FINANCE HEARING COMMITTEE TO AN
END.