Insurance & Commerce - Senate
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Bills discussed (7)
| Bill | Title | Sponsor | Status |
|---|---|---|---|
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SB149
Act 531
· 2 mentions in chapter, agenda
Matched: “SB149 J. Dismang TO AMEND THE FAIR MORTGAGE LENDING ACT.”
|
TO AMEND THE FAIR MORTGAGE LENDING ACT. | J. Dismang | Notification that SB149 is now Act 531 |
|
SB150
Act 532
· 2 mentions in chapter, agenda
Matched: “SB150 J. Dismang TO AMEND THE UNIFORM MONEY SERVICES ACT.”
|
TO AMEND THE UNIFORM MONEY SERVICES ACT. | J. Dismang | Notification that SB150 is now Act 532 |
|
SB184
Act 491
· 2 mentions in chapter, agenda
Matched: “SB184 Irvin TO REPEAL THE ARKANSAS PAWNBROKER ACT.”
|
TO REPEAL THE ARKANSAS PAWNBROKER ACT. | Irvin | Notification that SB184 is now Act 491 |
|
HB1156
· 1 mention in agenda
Matched: “…d 3/1/21 @ 4:31 p.m.) Removed SB351; Added SB150, SB184 and HB1156 to Regular Agenda Senate Committee on Insurance and Commerc…”
|
TO ENHANCE THE 911 SYSTEM IN ARKANSAS; TO MODIFY THE DISTRIBUTION OF MONEYS IN THE … | Ladyman | Recommended for study in the Interim by Joint … |
|
SB112
· 1 mention in agenda
Matched: “…CEMENT PROGRAM FUND. DEFERRED BILLS Number Sponsor Subtitle SB112 Teague CONCERNING SUITABILITY IN ANNUITY CONTRACT TRANSACTI…”
|
CONCERNING SUITABILITY IN ANNUITY CONTRACT TRANSACTIONS. | Teague | Died in Senate Committee at Sine Die adjournment. |
|
SB151
Act 533
· 1 mention in chapter
Matched: “SB151 J. Dismang TO AMEND THE ARKANSAS SECURITIES ACT.”
|
TO AMEND THE ARKANSAS SECURITIES ACT. | J. Dismang | Notification that SB151 is now Act 533 |
|
SB351
· 1 mention in agenda
Matched: “AGENDA (Revised 3/1/21 @ 4:31 p.m.) Removed SB351; Added SB150, SB184 and HB1156 to Regular Agenda Senate Com…”
|
TO REGULATE PEER-TO-PEER CAR-SHARING PROGRAMS; AND TO CREATE THE PEER-TO-PEER CAR-SHARING PROGRAM ACT. | Irvin | Died in Senate Committee at Sine Die adjournment. |
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View at some point. One when we took over this committee how we can go we had quite a few bill sitting out there so I've worked with malar staff Cherie and Emily. And I guess that brings the point we should probably keep Emily and her purse her husband and he has a code positive is that correct. Now so she's quarantine that's why we have sherry here tonight. so keep her in her family in your prayers. But going forward with that we
put in front of you a list of every bill that's come off the house floor or issued by Senator we put dates and the one two three four five six or the bills that I intend and have notified those sponsors to run on three two and if you look at one two three four five that would be run on three four and if I can run six on three nine we're starting to get caught back up by three eleven will be back into phase with the session so
to speak now best laid plans since we put that together we've already got to that are going to be heard today so we'll be chasing them as we go through but we'll we'll deal with that the second piece of clean up language we need to do let me I think what it will be easiest to do is. I need a motion to expunge a vote by which this committee passed a bill on two eight. An amendment and I'm gonna ask sherry do you wanna explain that
to them and then we'll ask for that motion to expunge and then a revoked so we asset amendment out there for Senate bill two ninety at this was adopted in committee on two nine and add later engrossed into the bill so we just need to expunge the vote to clean our records so I need a motion to expunge the vote upon receipt of that I've got that from Senator Teague do I have a second Senator Elliott all in favor of expunging that vote please say aye.
So that vote is expunged I now need a motion. To what what is the snacks motion need to go to. or is he going to come skis. And it is. Senator hammer could you go to the end of the table and present. House Bill thirteen sixty two and we're going to ask for information to run that bill today since we lost to bills and in our effort to catch up
Senator hammer has a bill which is strictly a date. Modification in the bill there is no known opposition and I need a motion. What's my exact words here so is there right. H. B. thirteen sixty two. And we will hand that out to you are going to hear at the end of session but I would like to deal with that bill today instead of only having four Bills dealt with today I'd like to add that since it's a no opposition bill
I need a motion to approve that to our agenda and it needs to be in the infirmity of six yes votes so do I have that motion. Will. To hear a bill H. B. thirteen sixty I have that motion to suspend the rules do I have a second. All in favor please since you question certifying. So. Yes sure. Okay we'll.
Okay. Okay yeah this is not repairing the bill I just want him at the end so I can put it to the agenda today so motion and a second all in favor please say aye Daddy to the agenda. All opposed same sign. I would say we have six apartment it was six seven of us in the room so that motion that agenda center hammer will be put on our that bill on our agenda at the end of the session and we can deal with questions to that
bill them. Thirteen sixty two House Bill thirteen sixty two. All right do we have any other clean up we need to do. Okay. Thank members do I have any questions concerning this sheet that explains the bills that I intend to go to sponsors and ask them to kind of stick with that today and if not we'll go on. And seeing none center Dismang here at the top of our list you are if you could take the. Position and we'll get started.
Thank you Mr chairman of so we have three bills in front of the cities are often the securities department but only this is clean up for clarification order bring ourselves in conformity with the other states so that these things are easily transcended amongst different carriers have or your institutions rather but first it would be Senate bill one forty nine AM settle have imagined some they rent or they running in order that well one forty nine then one fifty one and then one okay but we have flexibility okay all right thank you Mr
chairman and so the majority the bill this bill is as I said cleanup and clarification however just highlight a few of the changes that section at eleven and nine first this part of the bill requires the companies establish written cybersecurity policies as well as compliance policies and procedures also it will allow the commission to have the authority to make rules to allow loan officers to work from location other than a license location in other words to work from home rule my understanding that's an executive order right
now and so as we've been discussing which one of these makes sense makes sense and embraced by the industry and and has been going well second section eight amends lights license link for initial loan officers my understanding is that if someone is licensed in the last two months of the year currently they would have to renew yes if you renewed at any point in the prior year you would have to renew immediately the following year this would allow if you if you are licensed initial you ever initial license in November December of that
year that you would not actually have to renew for for a full year so you know you're not getting license November December then turning right back around in January to license this gives you the whole year so it provides relief to some of the burden for those applicants and then third section tenements notification to the Commissioner on the change of name of address currently the licensee has thirty days to notify. the commissioner after the move this would put it in front this is not in fact anyone except for
the companies themselves so these non individual loan officers the company's gonna know well in advance you know of thirty days that they if they intend to move locations so would help assist the Commissioner with tracking if there were to be any issues. are you finished Senators going out said yes okay are there any questions from the committee Senator Elliot you're recognized for a question. Thank you Mr chair Senate dismaying will the long from
home type of change is that something that's proposed to be prominent artists would establish rules that would allow that to be be a permanent situation yes but we want to make sure that the securities in place for those folks to work on that's reason that my understand you would see that other piece awakened legislation that requires them to have a written cybersecurity protocol from there okay and so this would not be a person from whom they would need to be some interface with that customer and this loan officer not not direct so a lot
of this right now I mean if you will number one I would say a lot of banks the state or actually moving away from home loans they're actually letting that be something that transacted you know ultimately online so allowing the di tech I don't know what the names these companies are but I said look we're that that's something that's moving into two to more of a cyber you know I guess that process so no direct face to face with no I mean for me personally that have
multiple bankers that are all you know working from home at this point we've not had any hiccups in the course of or something needs to be signed or would you need to be empowered to make arrangements to get together I'm thinking of I don't think I've gotten a law that didn't have to see somebody well guess for see somebody face to face but in cases like that I think about and I'm working from home I would assume arrangements would be made that that you would not have to meet that person in their home that's correct I mean it it again I I'm the same from personal experience and they can speak to
a little bit more direct so we may go through the acute initial process of that's where I'm providing the correct documentation and we're transmitting that information you know back and forth but ultimately when he gets to signing day unless it's allowed to be done electronically with some some things are at this point if there's going to be required to be face to face we would then go to the bank okay you know. Thanks for that answer that question that that's all I need to know and on the changing the
whole the whole year licensing situation if I've got my license in November and I'm not going to renew again in January that's my cycle dental speak come that November to November that you're not a one time thing okay that's right all right thanks thank. Are there any other questions we brought someone to the table could we please identify for the record please. Hi this is Karen Ternium attorney with Arkansas secures Department here to answer any clarification questions okay thank you. Munson commission Arkansas stirs part okay any other questions of committee members.
Anybody else in the audience like to speak for against this bill. Seeing none let's see members are there any other questions all us one more time. Okay and would you like to close for your bill senator is closed your closed or the wishes of the committee I guess do you want to make the motion or do you want from the Committee admission adopt motion do pass because they're Ingram a second. I have a motion and a second on
Senate bill one forty nine all in favor please say aye. Same sign opposed. The Bill pass this do you want to proceed on the Senate bill one fifty one so we can stay on our agenda that that that's okay yes you are recognized to present Senate bill one fifty one third as mine thank you Mr chairman of the majority of this bill again is a cleanup language however I think one thing that you know that is of importance and I and I appreciate the work of the securities department bringing this section for
expenses to action of vulnerable adults from financial exploitation including adding transactions these protections are for the industry and allow them to investigate if they believe a Klein is at risk of being financially harmed the provision also expands the definition of vulnerable adult so that a broker dealer or investment adviser can use these protections if they believe that someone under the age of sixty five is also at risk for example that would be a recently widowed person again so this is allowing the industry to have some protections that they're seeing
something that doesn't look right to to bring that forward and for that to be investigated is gives you all know that's an increasingly. That's an increasing problem not just state cross country folks being taken advantage of and the the sooner that someone can be engaged thank the better off we are and car those individuals will be. All right are there any questions with regard to Senate bill one fifty one from the Committee.
Senator Hickey you're recognized for a question sorry I missed it do we define what form will build is it is it is on page three of the bill and so for its it's someone sixty five of your years of age or older subject to the supervision of a doctor protective services unit or the Department Human Services or otherwise considered susceptible to financial exploitation or thank you Sir Sir. Correct do we have any other questions. All right is there anyone in the audience would like to speak for or against this bill.
Seeing none are there any questions from the committee one last time. Seeing none would judge close for your bill senator Dismang I'm close your closed what is the wish of the committee the. Motion to pass motion do pass motion second was Senator Ingram recognized all in favor of passing Senate bill one fifty one police say aye. Same side opposed you pastor bill let's pass on the Senate
bill one fifty will back up a step. Thank Mr chairman and in this bill I'm grateful of the table with me if we have questions committee I hope you as members can help me out with any of that because this is this is not my expertise so the primary focus of the change of the make money Services Act is bring Arkansan to conformity with other states on definitions background checks permissible investments and exclusions to licensure this is mainly to reduce the regulatory burden on the licensee's and so
again it It allows it to be uniform across states I think it's for model legislation has been passed in multiple states and then second is to add that the main addition is to add virtual court currency to the license will activity of Amman a money transmitter my understanding we have one money transmitter in the State of mop on that at this point for virtual currency that that's correct there's a boy in a money transmitter who's located in Arkansas and it's not virtual currency got you in and so
according to most recent data that we have there are approximately three thousand seven hundred and three thousand seven and three hundred seventy two thousand virtual currency transaction issue dated in Arkansas with an amount will in excess of eighty four million dollars again this is a place for something can go wrong trying to give them the tools to be able to track in assisted someone is being taken advantage of or you do have bad actors right now that's it's a difficult process hopefully it you know and I think virtual
currencies is going to continue to evolve but this gets in the right direction. Okay committee members do we have any questions Senator Ingram you're recognized for a question. His his virtual currency I mean is that bitcoin. That it will. It was Could we arrived second we need
your might be on there for the record for the home now designs they're trying to start over thank you that is correct senator Ingram and bitcoin is one type of a cryptocurrency there's many different types ed I believe there's over six thousand different types of virtual currencies out there right now at like you and I can create our own virtual currency if we wanted to flee that that technology to do it said I'm sorry but we can get some idea except that is at and and set that up to there's over six thousand bit coin is the most
well known and that right now the highest priced ones thank you. Do I see any other questions Senator Elliott or you know okay Senator Teague you're recognized for a question. Thank you Mr chairman of the Senate is going to ask you had to get involved in this. These good folks here to my right. As would dissipate so you sit serve about model legislation in
several state was that water to twenty five or thirty four. What was that I like to mention that question but I think it's. Broadly accepted. Senate take that's a good question we came up work for this in a working group members of our staff I have worked on this for several years. We saw a model national motto legislation adopting the money services act again the
crypto currency side of this and the. There is growing and growing but these are recommendations from national group Karen turning with our staff here is the key attorney with the scourge partner that handles this area of the of money services. And we're trying to you and this bill just passed definitions and bring some clarity right now at this point to the money services industry all these a. The like said there's there's thousands of these different exchanges in coins and.
We're trying to keep up there's other states is is a lot of parents to be honest with the winds of this comes in my legislation Alabama and Texas our way had the curving we've been consulting with their staffs in those the security departments trying to bring us up to speed with those two have been the most advance that we've seen the country or region and this model's allowed legislation they passed okay you had a follow up Senator Teague. I do Mr chairman thank you what national group. Are you talking about. Mr Musson.
Or miscarriage somebody. Yes liquor there's and I let her expand on it but it's the national association of securities administrators. And there's CBO. There is also the comfort of State Bank supervisors that worked on this and they had a working group of both industry and state regulators that had a voice in this and so it was language that is developed by industry and regulators that both agreed upon.
So industry is in support of these changes because they want that they want the same definitions across state lines they want the same for missile that's a fixed to across state lines so there's not competing for them Hey it is not it honestly it's less costly for them if the other not conflict have to. Investigate what state has a decidedly different interpretation in another state if there's consistent laws that consist never mentions that it is easier for them. And we we were trying to reduce
regulatory burden on them with these changes HMM I have one more you may you're recognized for fall so what is a money transmission better. It the simplest definition it's seventy transmits money Senate anywhere from a PayPal or Western Union Hey at MoneyGram but it also it It is now getting into the virtual currencies what we're trying to do here as it to define a virtual currency as a currency. That would be able to transmit it transmit.
Thank you Mr chairman Senator Irvin and then Senator Elliot please you're recognized senator. Thank you so yes I think. I think my question really is geared towards probably what section of the bill do you think is the most important and I'm I would say that because I am supportive of this but this is a
discussion that I think is worthy to have and because of all the different things that are out there it's hard to wrap your head around the virtual currency and how what facts right and so I mean I think it's really probably the responsible thing to do to have a little bit further discussion and for the bill support the bill however I think it's it's important for you to discuss the sections of the bill that really are going to be the most important when it deals with virtual currency to
ensure its viability and its usage and it's and it's worse. So can you answer that question for me as much as you as best you can. Thank you letter actually a very important question a lot of these changes are it further conformity at that crossed a line to definitions the background check for resolve incidents those are all your answers conformity where virtual
currency is not at Burch apparently is more to make sure that somebody it has its eyes on these transactions in Arkansas because right now nobody does any right there there's a lot that we don't understand about virtual currency and and your send your questions about make insurance viable that this bill won't do that this is just to make sure that the entities who are transmitting the virtual currencies are regulated under Arkansas state so you're right there there's a whole lot about virtual currencies that we aren't touching here.
If you don't mind I think part of it you Mr for me on a personal what I was looking at the bill I think one of the biggest items is the the provisions related to back background checks for the transmitters thanks and I I was trying to make that point there's no one a lot of these entities are located outside this state which then makes it almost impossible and they're trying to make sure that begin at their tracking through this that there's something legitimate even at its origin without the background checks you're not able to even though that so these may be you know
for an Indian foreign countries or whatever it may be but that would that would probably be the biggest thing is just a step is a stop gap because and I think it's coming in the closer you get taken advantage of we were we were having a brief conversation before this but something's been seen so far in there but you can't do anything if you can't follow it this would allow them to have something to fall. Okay hello yes things when you're recognized so who does it who would that lie at the state level or the federal level as far as how it's back to to make
sure it's secure and if it's actually value. Arianna it It that's a great question because right now there it's not backed by anything it's it's not pure speculation what you and I and all of us think that a bit coin or does going or at like point any of those are work. And until it is backed by something and hopefully that the federal government is the one who needs to because it it you
know and if Arkansas set back by something in Texas something else it it's never gonna work so you're right I mean that there are a lot concerns about virtual currency and investment this is the commission The New SEC commissioner on block drawn a blank on his name he it is very well versed in that virtual currencies he worked at MIT before he got this position at any time of course on virtual currency so hopefully like we're taking the steps that we need to
federally but at and there are concerns and I and I share them with you. Okay Senator Elliot the stuff question you're recognized yes thanks Mister chair usually you wait bills like this there's you know that considers a consumer kinda interest somewhere there's the industry interest and then there's as consumer interest and. Is there is there something this bill that addresses and interest other than just the industry interest or do we not know
enough to know exactly what the consumer interest in this I mean I think the consumer interests is just the fact that they're requiring to have those background checks that there's going to be in you know a database for lack of better way to put it so that that the consumer is taking advantage of there's a place for them to go and play tracks I think that's the consumer side and again I think most of this came through that it processes amongst other states thank you Lou two little bit ago but Alabama Louisiana
Texas and maybe some others are ahead of the curve so we're you know we're not we would not March out in front but we're taking you know what they have in trying to drop the best of the best we can and that's what that's what this this bill would be so I'm I'm I think it's a computer consumer protection bill that I sit on this chilly it's just that but some of these things that are so opaque but I don't know if there's something I'm just missing or whatever or something about a a bill that represented Meeks and I worked on last session about bit coin
and we heard from a lot of small businesses who wanted that that opportunity especially farmers was a big deal and so and when I think back to that it it surely does make sense would be what would want to protect them but I'm just trying to just think in a balanced way with their and be anything that that person would want or need to us other than just protection you don't like for example to it to make it easier for them to even participate in the process we
are not at that level yet I assume is that correct. That. Like to get a way of making it easier as a farmer that I can participate in the air and for it to to clarify are you asking may if performing to be able to accept bitcoin as payments yes or. I mean to use bitcoin period and some other payments I want to transfer or not go through the big but whatever the case may be it is becoming more and more
easy and use that car and it were not fully there yet pay pal is now involved at that point is that it's a lot easier I could go on it by twenty dollars for the decline in three clicks and then be able to transfer to somebody else so it is easier your at your right and some states have allowed big going to be used to pay state taxes or you yourself tax your car tag tags in and we don't have that here is nothing about that for this bill and I will read that and to have anything like this in the end it expand on as
senator dispense point and. Under the the more data FOR the many services that there's licensee's requirement that we look at the background of them at the required to have a sure the bond we have that they have to have a network so we're making sure that they're a good company to be able to transmit the virtual currency as well okay so that that that's how we also protect consumers okay we'll just we're not at the point I was thinking about so thank you. All right seeing no other questions is there anybody in the audience who would like to speak for or against this bill.
Seeing none are there any Lasko of senator you have a question or. A motion to pass so let me if you get all that maybe do you are you close for your bill senator that's mine okay he's close for his bill all recognize a motion now from senator urban do pass do I have a second Senator Elliot I've got a second all in favor please say aye. Same side opposed. Your bill has passed senator Dismang what before we move on and now senator.
Hickey is stepped out but Senator Irvin we added a bill to your agenda today by a motion to suspend the rules it's a it's a non bill it's changing a date due date and it's Senator hammers bill thirteen sixty two will be heard after yours we did that because Senate bill two sixty and H. B. eleven fifty six will not be heard today and we wanted to have us full of agenda as we could so with that said I
believe we have a handout Senator bring your up with Senate bill one eighty four the and its staff would hand out the handout and you could proceed to the and we'll go and get started on that. Since people are joining you at the table perhaps they could introduce themselves before we even start yes on Senator Missy Irvin.
Steve Gunthorpe department labor licensing thank you. In the socks the department of labor licensing okay serving you are recognized to present Senate bill one eighty four. Thank you summoners you seen this before the handouts that I believe that you have or answers to the questions from the last committee meeting and those those there's a hand out there for you as well as a letter from Mr Tim call your in
support of this bill just you know five brief background here so these these folks went to Representative Tosh to an axe this policy in this this commission but they that was kind of a two pronged approach I'm as they were working through the court system and so now they are and since this is not met I think this came to me because I'm the chair of the occupational licensing sub committee
a review subcommittee of ALC and we work through those issues so that's why I think that probably came to me with the Department so I'm we're here to answer any questions that you may further have. Okay Committee do we have questions for senator Senator Teague you're recognized for your question. Early on based on what I read in which Carter's letter and
nobody cares that this is going to affect they wanted to go away. And why did the Department big nor it for two years a well I mean to your point yes that's correct and represent Tosh you created this is actually gonna be the co sponsor now to repeal it. So I'll let the Department answer your question thank you. If I may Eubanks sanity Mr chairman of. This came to us through transformation so it wasn't with
us through the whole time so we just are working through several processes in terms of evaluating boards and commissions that came to us what they're fiscal of but this is the first session we've had the opportunity to bring this to repeal since transformation occur so we we identified this very early on this is just our first opportunity what ages you had it before you got it law enforcement.
The training the law enforcement training folks. Elita one Forsman training academy I believe I had it yes. Do you need a moment to think that the follow up on that Senator Teague I need a moment say certain I ask I don't you make sense to me but I guess how to shut up thank you Mr all right any other questioners in we go to Senator Ingram thank assure one thing I just have to think of but by
this being covered in other sections you know pawnbroker's have to do the I came or what programs called we're gonna do online verification like copper theft and all that kind of stuff that doesn't touching this route is still covered in those other areas that's correct Sir okay thanks thank you sure Senator Ingram for question. Yes so if there is a complaint now that let's just say there's a complaint that to you of your to the lawn and I had this user
yes the for for who they go to we're we're to somebody to comply. The the complaint would either bring a civil lawsuit or it would go to the consumer protection division of the attorney general's office. That's why they. But that's where we go yes. Unless it was a law enforcement complaint in terms of like stolen property or anything like that then it goes to local law enforcement and the provisions co December senator hammer mentioned. Okay thank you Senator Elliot
did you have a question I didn't want to I didn't want to try and guess their house so you. All right are there any other questions of service. Is there anybody in the audience would like to speak for against this bill. Seeing none. Senator Ben are you close for your bill yes OK Senator Irvin as close for the bill I make a motion to pass and we have a motion do pass do we have a second.
Second from Senator Elliott. All in favor of passing Senate bill one eighty four please say aye. Same sign opposed. The eyes have it you have passed your bill Senate bill one eighty four thank you Senator Hickey the chair would like to bring you up you happen to be out of the room when we were dealing with that but we Center hammer you may proceed to the end of the table but Senator Hickey we had a motion to suspend the rules at the beginning of the committee we have a non controversial bill we have to
bills coming off the agenda we put H. B. thirteen sixty two on the agenda so we're going to hear that bill now to wrap the day yes. You should have sent the members before you start Senator hammer does every member have house bill thirteen sixty two I don't want to have a gray area here should be in front of you and were led to believe it's non controversial so we're going to deal with that today. The Senator Teague said the storms are usually the biggest when you are planned and forms
of. Okay everybody ready to proceed Senator hammer you're recognized to present house bill thirteen sixty two. Thank you Mr chair okay so. What this does there's a program that is within the teachers insurance program and also within the state insurance program and this was started back in two thousand eleven
under ACT eight fifty five it's a pilot program it was renewed in two thousand fourteen two thousand seventeen it has a finite budget of three million per year for each of the state one three million for the state employees three million for the teachers that are held at the B. D. it has a financial kill switch that in the event that it should go above that in each one of those two categories that would be terminated automatically and this is kind
of an important quote a BT has a forty to discontinue or suspended plan option offered under subsection a of this section if the board determines adjustments are necessary to ensure the financial soundness and overall well being of the State and Public School health insurance plan what this money is used for said if an employee either out of the teacher's side or on the State employee side wants to go and say get a sleeve in order to to deal with obesity it's going to help with diabetes this is money that's allocated
to pay for that it also covers a bariatric surgery program as well I've got the data sheet in front of me and and I'll say this they didn't know I was going to say this but most say it because it might be watchin based on the historical usage of this money it has never hit the cap on either side what I want to in a sense. A message to the staff asking them to see if we could legislatively re direct the
unused portion over to the reserve fund at A. B. D. in order to help carry some balances Ford and drive down the cost of insurance or help make up some of the issues were deal with prescription drug monitoring program but you want to be clear though that's not in this decision items that is not in there but judge members seeing the fight scene the financial numbers as far as how much as not used or find where that money's going to see if we can do that with that I'm just getting little sidebar content but that's what this
program does and I'll be glad to answer any question and it has to be extended as it has been done in the past in two thousand eleven than fourteen and seventeen this is now extended to twenty six senators minor believe you referenced you had questions will go with you first thing mistreatment and yet and so I know it was controversial at one time I don't know where we are it was always issued temporary to prove that have value and market outcomes and so I don't know if we have that or not I'm little bit curious about the
date moving it out five years opposed to that we could revisit if we need to revisit when it was set in twenty one so that we have the chance to do just this beforehand but also so would have information back if I remember right about it you know we originally when we look at doing EBT changes I think struck this procedure out all together because it was costly and there were a large number dispense that were utilizing it and so was helping drive up the cost of the health insurance plans for everyone else and there was an
argument that was made that this would in fact help save money long term because of the other health risks that recession it was someone that was these you know we have any of that information on the outcomes because that's what the dates are in there for or they used to be in there for was so that we would. Is a good thing or bad thing because we've got problems over DVD. I don't want to continue on the program but it's not something that. This is providing the right
outcome center amber you have an answer for the center does banks question I don't have any of that with me today Mister if I may I've got the numbers as far as how much just not that much try to convention alone would just give you the information that in two thousand twelve there was two point one five M. around this off two point one million thirteen was three point five two point three I'm just going down the line then in fifteen sixteen fifteen was four hundred eighty one thousand only sixteen was six hundred twenty two seventeen with one point two eighteen was two point six
nineteen three point four and so far this year which we're coming up on the end of the fiscal year would be fees of five hundred seventy eight thousand I don't mind Mr now we get this out there we kinda let it percolate I don't mind trying to get that come back make a shorter run on the next agenda it that's what the committee wants shall be glad to do that well I would reference for senator Dismang is with that question do you want him to get that exact answer for you or was that close enough proximity should be I just and I think we need to make sure EVD I mean I know what's already here
but we are I mean we're truly in a bind and men were scraping together everything we can I'll they are I think to try to make that float I want to have that kind of plays into the equation and then also if you don't mind ask where the twenty twenty six date. You know came from what was that what was the justification we had been extending it out for only two years prior to that rider to baby at least was
started in may it started in the first one was two thousand eleven. Well actually two thousand eleven then fourteen should be three years seventeen Be note so it's like a three year but this goes to five so I can get the answer the question. Yeah because I just don't want to put it out so far out that none of the rest of history here anymore to remember why we did it in with you know the main yes not so I have no problems with any of that thank you okay so we'll pull that down get squeezed into the agenda as we
go forward hopefully the time frame will be. Better later on a double Thursday be acceptable you thinking get those questions answered by Thursday I sure will act in effect all of all make sure somebody's here okay by way of announcement thank you before we adjourn. Two thirty where your best duds we're gonna meet for a picture outside the Senate on the floor. If we're still in session at two thirty it was the will of the committee that we would all step out and take a picture go back
into the Senate before we can be in this committee so at two thirty will take picture today we'd have been fine we were here by two thirty so will target photographer two thirty the agenda and I guess this is for Senator Hickey as well I've lost mine here. Senator Hickey what you have in front of you we do got for the six done it's the street the excel sheet it's the lay out of trying to get this committee back on target with six bill today five to or back and forth.
We're going trying to stick to those we're gonna try and push to always have five bills to we get caught back up and today we were we're talking we lost to Senate bill two sixty and house bill eleven fifty six got pushed out sponsors are ready but we were able to do a suspension of the rules and bring this one back although it did lead to questions and I want to our state for the committee. Bringing things in suspension of the rules does not mean if we don't have questions I appreciate Senator hammer. Being willing to bring this back
so that does not mean we have to pass the bill will reduce spending of the rules so when we come back on Thursday I'll take the two that were here today move them oversee which where the sponsors are and that'll be the agenda eighteen hours for. Senator hammer you have comment yes sure sure I just like to out of respect for the committee on Senate bill two sixty Richmond said there We I've been working with all parties to try to get this resolved so we come in the committee it'll be a little easier Jett challenge and bring
a bunch of people testify for against Scottish a respect for the chair because I know you've been very tolerant one let the committee know that's what I'm trying to set up to sixty and we've got a meeting tomorrow so hopefully by next week will be a walk in and make it a little cleaner you'll also know that H. B. eleven fifty six Representative Ladyman has now got a Senate sponsor and senator Rapert and I anticipate he will be on Thursdays agendas will. Okay anything for the good of
Agenda
Call to Order
SB149 J. Dismang TO AMEND THE FAIR MORTGAGE LENDING ACT.
SB151 J. Dismang TO AMEND THE ARKANSAS SECURITIES ACT.
SB150 J. Dismang TO AMEND THE UNIFORM MONEY SERVICES ACT.
SB184 Irvin TO REPEAL THE ARKANSAS PAWNBROKER ACT.
Adjourn
Documents
| Title | Type | Pages | Source |
|---|---|---|---|
| Agenda — INSURANCE & COMMERCE - SENATE, Mar 2, 2021 | Agenda | 1 | Official source ↗ |