Legislature(2025 - 2026)ADAMS 519
05/17/2025 10:00 AM House FINANCE
Audio | Topic |
---|---|
Adjourn | |
Start | |
HB104 | |
SB54 | |
SB137 | |
SB132 |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
+ | SB 54 | TELECONFERENCED | |
+ | SB 137 | TELECONFERENCED | |
+ | SB 132 | TELECONFERENCED | |
+ | TELECONFERENCED | ||
+= | HB 104 | TELECONFERENCED | |
CS FOR SENATE BILL NO. 132(FIN) "An Act relating to insurance; and providing for an effective date." Co-Chair Foster asked the sponsor to introduce the bill. There would be a committee substitute (CS) forthcoming. 6:41:38 PM SENATOR JESSE BJORKMAN, SENATE LABOR AND COMMERCE COMMITTEE, SPONSOR, shared that the bill was a companion omnibus insurance bill that had been heard multiple times in the House Labor and Commerce Committee and elevated to the House Finance Committee. He explained that SB 132 contained a number of provisions that were technical and conforming changes throughout Title 21 including the correction of drafting errors and updating insurance technology to the National Association of Insurance Controller Standards to ensure Alaska was "singing by the same set of sheet music that other states are" when it came to the world of insurance. He explained that the Department of Commerce, Community and Economic Development (DCCED), Division of Insurance director would take the committee through the bill. 6:42:53 PM LORI WING-HEIER, DIRECTOR, DIVISION OF INSURANCE, DEPARTMENT OF COMMERCE, COMMUNITY AND ECONOMIC DEVELOPMENT, began with Section 1 of the bill. She explained that DCCED asked to have the statute of limitations changed from five years to 20 years because the Division of Insurance received complaints and concerns from consumers who discovered they had been taken on a life insurance or annuity product after the statute of limitations passed. She elaborated that it was typically an elder when they went to cash it in or use it. Under the scenario, there was nothing the department could do because the statute had passed. Ms. Wing-Heier moved to Sections 2 and 3. She stated that she would talk about health maintenance organizations (HMOs) throughout the bill. She explained that HMOs had always been in the statute, but statute had been limited in allowing the use of HMOs in Alaska. She elaborated that because there was so much talk amongst employers, school boards, municipalities, and individuals about the cost of healthcare and healthcare insurance. She detailed that the bill would put the teeth back in statute so an employer or individual could choose to buy an HMO product to save a bit of money. She expounded that it was a managed care product that would cost a bit less than the common products currently on the market in Alaska. She underscored it was not a mandate. She relayed that the bill included a provision that if there was a need for an out of network provider in an emergency or that was not available to a consumer, the HMO would be required to pay the bill as if it were an in-network provider. 6:45:03 PM Representative Hannan asked for clarification on which bill version the committee was considering. She thought they were looking at the Senate version of the bill. Ms. Wing-Heir answered that bill version T [the version passed by the Senate] was before the committee. Ms. Wing-Heir moved to Sections 4 through 11 of the bill pertaining to financial reporting, reinsurance credits, taxes allowed on wet marine and transportation insurance, and the use of principle-based reserving for valuation of reserves. She explained that the sections would bring Alaska into alignment with the National Association of Insurance Commissioners (NAIC) model law 820. She would elaborate on wet marine and transportation insurance later in the bill. Sections 12 through 26 amended licensing statutes. She explained that the applicable statutes had been reviewed to determine primarily what was being adjusted out of state. She explained it could include out of state adjusters coming to Alaska to work (a non-resident adjuster) or for example when a person had a claim on their cell phone, and they had purchased the insurance package. She provided a scenario where the person called the 800 number, which was answered by a non-resident adjuster in Arkansas. She elaborated that the division had found there was an issue with those not being licensed because all states did not license adjusters. The bill would allow those adjusters to use Alaska as their home state. She detailed that the individuals would have to be fingerprinted and go through background checks just like a resident. They could receive a license from Alaska, but they would still be a non-resident adjuster. The bill would make the change throughout the title and would make things easier for the consumer and licensing staff to implement and regulate. Ms. Wing-Heier turned to Sections 27 to 33 that amended taxes on surplus lines. The change allowed a broker to pay taxes on behalf of a non-admitted marine and transportation insurer. The bill also adjusted penalties, less for late filing and more punitive for egregious conduct on behalf of the surplus lines broker. Sections 34 through 45 amended the unfair trade practices and consumer notices requirements by requiring notices of cancelation. The notice of cancelation would give an individual 20 to 45 days to replace their policy if necessary. Additionally, the bill would prevent the cancelation of a homeowner's policy in the event a consumer filed a claim simply to get a denial knowing there was no coverage, but knowing a denial was needed in order to qualify for state, local, or federal aid, primarily from the Federal Emergency Management Agency (FEMA). She explained that the situation had occurred recently in Juneau when the glacial dam burst, and several consumers had called the division. Ms. Wing-Heier continued that the bill also amended the contractor controlled insurance programs (CCIP). She explained that when there were large projects such as the Trans-Alaska Pipeline System (TAPS) and the Anchorage airport, the projects were OCIPs [owner controlled insurance programs] or CCIPs where the owner or prime contractor buys insurance for everyone on the site. The insurance had to be a value of $50 million with a defined location and site. The option saved the contractor and the subcontractors money because it eliminated any possibility of subrogation because it did not matter what insurance policy a claim was filed under, everyone was insured. She noted the method was very common in large projects. She referenced the existing housing shortage in Alaska and explained that in the hard insurance market insurers were having a difficult time getting the insurance necessary for projects; therefore, the bill extended the number down to $20 million and 40 units for multi-owner residential with defined site and location. The bill also added a provision requiring health discount plans to disclose that they were not insurance. She detailed that the plans advertised the availability of a plan for one week for $50. She underscored that they were not insurance plans. She recognized the option may be good and provide a benefit, but consumers should understand the option was not an insurance plan. 6:50:13 PM Ms. Wing-Heir moved to Section 46 of the bill pertaining to workers' compensation. She began with assigned-risk workers' compensation and explained that small employers or employers with a bad claim history put in the assigned risk there were many reasons an employer could be put in the category after $3,000 in premium, the employer was surcharged 25 percent. In light of inflation, workers' compensation rates, and payroll, the bill increased the amount to $6,000. She noted that she had worked for the division for 40 years and the number had never gone up. Section 47 allowed notices to be sent via email in addition to mail. Section 48 expanded coverage for colorectal cancer screenings. Section 49 amended the interest rate for individual deferred annuities to comply with NAIC model 805. Section 50 amended requirements for group life contracts. Section 51 amended the grace period by extending the number of days a person had to replace an insurance policy. Section 52 was a technical correction from agriculture to agricultural. Section 53 stipulated that the division would be responsible for approving forms of motor vehicle service contracts. She explained that the division had received complaints from people in scenarios where they purchased a new car and were told there was a policy they could purchase to bring the car back to be fixed in perpetuity. The division had never looked at those policies to see what consumers were being offered at what price. The bill would require the division to do so. Ms. Wing-Heier moved to Section 55 that would ban the depreciation of labor in residential property claims. She explained it had been a concern of some consumers. There could still be depreciation, but the policy itself could not depreciate labor. The broker could offer an individual an amendment showing what the price differential would be and the individual would be able to choose whether to depreciate the labor or not. Representative Bjorkman asked Ms. Wing-Heier to explain what it would mean for a person who purchased a plan who later experienced a loss and needed to make a claim. Ms. Wing-Heier explained that if a person lost their roof in a terrible windstorm and the roof was 20 years old, the labor would be depreciated considerably to the point that a person could not afford to put the roof back on. She stated the division was increasingly seeing the situation. She elaborated that it was horrible when it was a full loss on a house built in 1970 and insurers were depreciating labor back to that date. She stated it was a significant problem to consumers for large losses. Ms. Wing-Heier turned to Section 56 that included a technical change to the Joint Insurance Association and the way excess loss insurance could be purchased. She advanced to a technical change in Section 57 and explained that several years back a bill had passed pertaining to the Life and Health Guarantee Association and the full Medicare and Medicaid program had been inadvertently included. She explained that the error meant that if the federal programs were to go broke, the state would have to pay the claims through the guarantee association. Section 58 amended the HMO board. Sections 59 through 60 pertained to HMOs to put teeth back into statute and specifically state that out of network providers would be allowed. Section 61 required risk retention groups to file reports of their premiums with the division. Section 62 was a technical change pertaining to Section 1332 innovation waivers with the federal government Centers for Medicare and Medicaid Services (CMS). The bill added the U.S. Department of Treasury at the request of the federal government. Additionally, if the state were to come up with another idea similar to the Alaska Reinsurance Program, the division could apply for it without seeking approval from the legislature for the particular waiver. She detailed that there would be public hearings and the legislature would know about it, but the division did not want to wait one to two years to start the process if the opportunity presented itself. Ms. Wing-Heier stated that Section 63 would add a definition for motor vehicles. Section 64 included repealers. Section 65 was uncodified laws of the owner controlled insurance program. 6:55:25 PM Ms. Wing-Heir gave a summary of version T to version W. She began by explaining there were currently bills before both bodies, with the one on the Senate being SB 134. She explained that the legislature had passed HB 226 the previous year relating to pharmacy benefit managers. When the department went to draft regulations, it had been told by the Department of Law it did not have the authority because pharmacy benefit managers were registered, and they should be licensed. She elaborated that the actions taken in HB 226 had to be amended to change the statute to clarify that pharmacy benefit managers and third-party administrators would be licensed in Alaska as opposed to registered. The change gave the division much more authority to deal with problems when they arose from pharmacists or consumers. She explained it was the crux of the summary of changes [between the bill versions]. Another change pertained to the OCIP and the reduction to $20 million and 40 units. The House Labor and Commerce Committee made a change to cost sharing for colorectal cancer, which eliminated the cost sharing for biopsies and consultation for mammograms and for the screening of colorectal cancer. The age for colorectal cancer screening had been changed to meet the guidelines from the American Cancer Society. There was an immediate effective date for the OCIPs and CCIPs and the remainder of the bill had an effective date of January 1. Co-Chair Foster thanked Ms. Wing-Heier for her summary. He asked for verification the explanation was for version T as well as the new changes in version W. Ms. Wing-Heir responded affirmatively. Representative Stapp declared a conflict with Section 20. He shared that the bill would allow him to get a license notification of expiration via email as opposed to mail. 6:58:42 PM Representative Galvin asked for some clarity about the change related to agricultural. She asked if anything was changed other than a word. Ms. Wing-Heir responded that the change was only the correction of a word in statute. Representative Galvin noted she had a question pertaining to OCIP. She stated her understanding that the builders would like to see the insurance plan modernized because the ability to self-insure would enable them to get insurance quicker and at a lower price. Ms. Wing-Heir responded that there was nothing in statute that allowed builders to self-insure or buy policies. She elaborated that she would expect rather large contractors with the [financial] means to self-insure a certain portion such as the first $1 million or $5 million of the loss and purchase umbrella insurance above that amount. Representative Galvin asked if they were changing how much a project needed to be insured. Ms. Wing-Heir responded that it was not included in Title 21 and the bill did not change anything pertaining to the amount of insurance required for a project. Representative Galvin asked if it meant the state was allowing contractors to come up with their own process. She used an oil company as an example and stated companies had to buy a large bond or something in case there was a problem. She thought it was similar to insurance. She asked if it was similar to the topic at hand where a builder wanted to get their own insurance in order to protect themselves in case something went wrong. Ms. Wing-Heir responded that it pertained to mega projects such as the North Slope, Anchorage airport, and schools that included framers, plumbers, dirt work, engineers, and architects. She explained that a contractor could buy a policy to insure all of the individuals. The option cost less money and they could get higher limits because many of the projects wanted limits of $100 million or more, which was cost prohibitive for smaller contractors. She explained that the owner or the prime [contractor] would purchase the policy and name everyone so all of the workers had insurance protection. Representative Galvin stated her understanding that the amount of protection was unchanged. She asked if it was a modernization to keep up with what other states were already doing. Ms. Wing-Heir responded, "No." She relayed that the division had believed Alaska's statutes already allowed the option. She thought she was the only director of insurance who had to approve the projects. She elaborated that the division thought the state's statutes were correct until someone applied for an OCIP. She had been told by the Department of Law that statute did not allow contractors to name an additional insured person. She explained that the whole premise was to have everyone [on a project] insured under the policy. She noted that subsequently, the division had heard from contractors building residential projects and they had been added as well. She pointed out that the particular part of the legislation passed the House in 2024, but the bill did not make it out of the Senate Rules Committee. 7:03:20 PM Representative Bynum which version he should refer to when asking a question. Ms. Wing-Heir replied, "version W." Representative Bynum looked at Section 76 that increased a workers' compensation premium from $3,000 to $6,000. He asked who the provision would impact monetarily. Ms. Wing-Heir answered that the change would be a benefit to the employer. She explained that employers were currently surcharged at $3,000 in premium. The bill specified the 25 percent surcharge did not apply until they reached $6,000 in premium. She expected that many small employers and sole proprietors may not even get to the surcharge at a $6,000 level. Representative Bynum noted that employers were currently paying the surcharge. He asked if it would be a loss of revenue to companies. Ms. Wing-Heier explained that the surcharge went to the National Council on Compensation Insurance. The division had spoken with the council, and it did not believe the change would result in a negative impact to the council. Co-Chair Foster noted that the committee needed to adopt the new bill version as its working document. 7:05:17 PM Co-Chair Foster MOVED to ADOPT the proposed committee substitute for CSSB 132(FIN), Work Draft LS0415\W (Wallace, 5/17/25) (copy on file). Co-Chair Schrage OBJECTED for discussion. Co-Chair Schrage WITHDREW the OBJECTION. There being NO further OBJECTION, it was so ordered. Representative Tomaszewski wondered if Section 88 pertaining to motor vehicle service contracts pertained to factory warranties or after market service contracts. Ms. Wing-Heir responded that the section applied to both. She explained that if it was a new car with a factory warranty where a business would replace the transmission or provide a certain number of oil changes. She explained that the division was finding that consumers were taking the policies home and not receiving the anticipated coverage. The division did not realize the situation was such a problem until it started receiving calls. She noted that the division had not reviewed the forms previously, but it would start to do so. Representative Tomaszewski looked at Section 96 pertaining to federal agency waivers. He asked if the state would automatically enroll into new types of regulations or health insurance requirements. He asked if it would cost the state money. He requested more detail. Ms. Wing-Heir replied that in 2015 and 2016, healthcare insurance had almost doubled in the individual market. She noted it was right after the Affordable Care Act (ACA). Representative Tomaszewski noted he had lost his insurance policy at the time. Ms. Wing-Heier elaborated that health insurance had become incredibly expensive in a number of years. She detailed that Alaska lost Moda off the individual market for a number of years and it was not a good time in Alaska for individuals trying to procure insurance for themselves or their families. She explained that the division had come up with an idea and the legislature had allocated $55 million. She detailed that the division took the highest cost claims out and the state paid them. The idea was that because the market was so highly subsidized, the division went to CMS (that was already paying the subsidies) and offered to lower the premiums through a reinsurance program. The division had provided a scenario where CMS was paying $200,000 in subsidies and the number was reduced to $140,000 because the state took the highest claims out. The division had asked if it could have the $60,000 if CMS was only paying $140,000. She explained that the offer had been accepted. She relayed that the program had been operating for close to ten years and it had brought in over $800 million in federal funds from the advance premium tax credits or subsidies. She explained that if the opportunity presented itself to apply for another 1332 waiver to address the cost of healthcare insurance, that the division would have the flexibility to do so without having to make the request to the legislature and possibly delaying the project for two years. 7:10:09 PM Representative Galvin asked if the state currently had managed care. She asked how the new insurance section played a role. Ms. Wing-Heir responded that Alaska had managed care in "bits and pieces." She relayed that she was the director under Title 21, and it included 118,000 Alaskans in the individual market, small group, and some large group. She explained there was not much managed care in those areas. She expounded that self-insured such as AlaskaCare and union plans with the coalition were managed care. The state had not been able to offer managed care to the aforementioned consumers under Title 21. The bill would "put the teeth back into" an HMO as an option for employers or individuals to choose a managed care plan. She remarked that the Alaska did not have a Medicare Advantage program and it could not get the program without some type of managed care statute. She recognized there had been some issues with how the programs were sold or distributed in the Lower 48. The division was hoping to get some offers of Medicare Advantage and to give consumers an option. She reasoned it made sense to give consumers an option to select a less expensive health insurance for employees and their families. Representative Galvin stated that hearing the context around Medicare Advantage made sense. She thought Ms. Wing- Heier had stated previously there would also be some protections in place for individuals or an employer choosing a managed care plan to ensure they receive coverage for items like congenital conditions or cancer. She asked for more details. Ms. Wing-Heir responded that she did not know of any product under Title 21 that would do that. She knew there had been some short-term limited plans with some conditions, but most plans were pretty heavily regulated. She explained that under an HMO, typically because it was a managed care product, an individual went to a primary care physician who would provide a referral to a specialist if needed. She elaborated that they could do a capitated agreement where they took a given number of people. She noted there were all kinds of ways a managed care provider could manage costs. She relayed that there were limited medical resources in Alaska and some things that were not available, such as a burn unit. The bill specified that if an individual needed a specialist and there was not one in- network or the HMO, the insurance agency could not deny coverage. The same applied in the event of an emergency when an in-network provider was not available, the HMO had to accept and pay for a service as though it were in- network. 7:14:44 PM Co-Chair Foster asked his staff to review the fiscal note. BRODIE ANDERSON, STAFF, REPRESENTATIVE NEAL FOSTER, reviewed the zero fiscal note from DCCED, OMB Component 354, control code mnqAV. The note showed an increase of $110,000 in receipt services collected. He deferred to the department for additional details. Ms. Wing-Heir clarified that the fiscal note reviewed by Mr. Anderson was to version T of the legislation. There was a bit of an addition to the fiscal note for version W. She apologized that the committee did not have the updated note. She explained that the fees and penalties on surplus lines brokers and the wet marine and transportation tax had been adjusted. The bill deleted a provision that allowed the deduction for seating premiums and paid claims, which was in line with other insurers. The result was an expected revenue increase of approximately $110,000. She explained how the fiscal note was impacted by version W of the bill. She detailed that when HB 226 passed the previous year, the division had been unable to get a fee in the new regulations resulting from the bill. She expounded that when the licensing bill had come back to the legislature, the legislature added a biannual fee of $2,000 for third- party administrators and $15,000 for pharmacy benefit managers (there were 34 who did business in the state). She believed the change added about $300,000 in revenue; therefore, the total change in revenue under version W was about $400,000. Co-Chair Josephson asked for verification that the House had its own version of the bill. Ms. Wing-Heir responded affirmatively. Co-Chair Josephson asked how many hearings the House Labor and Commerce Committee had on the bill. Ms. Wing-Heir responded that there had been four or five hearings. Co-Chair Josephson assumed that Ms. Wing-Heier had the state's Aetna plan the way House Finance Committee members did. Ms. Wing-Heier responded affirmatively. Co-Chair Josephson asked if it was better than an HMO plan. Ms. Wing-Heir responded that it was probably better, but she did not know for certain. She stated there was still some directed or managed care within AlaskaCare. For example, AlaskaCare set up the surgery center providers, which was managed care. She believed AlaskaCare may be a bit better, but the two should be close. Co-Chair Josephson asked if the bill would enable employers in Alaska to opt out of a plan like Aetna's and move their employees into an HMO, which they currently could not do. Ms. Wing-Heir responded that employers could currently do it, but no one offered it because there were no teeth in the current HMO statutes. Current statutes allowed employers to have an HMO, but employees would get to go wherever they wanted, meaning there was no benefit. The bill would put the benefit back in. She stressed that it was an option, not a mandate. Additionally, the bill included language allowing for out of network services when necessary. Co-Chair Josephson asked if committee members should be concerned about a race to the bottom in terms of quality of care that employers might opt their employees into. Ms. Wing-Heir responded, "I don't believe that at all." She believed there would be the same fine doctors that were currently providing services. She thought perhaps those doctors would like the changes better. She compared it to the direct health care agreement that was passed in the prior year where more capitated agreements could be done. For example, a clinic could agree to see all of the employees of Joe's Plumbing for a given amount under an HMO insurance plan. She noted that all of Joe's employees would have to go to the same clinic. Co-Chair Josephson asked if the bill Ms. Wing-Heier was referring to was former Senator David Wilson's bill. Ms. Wing-Heier responded affirmatively. Co-Chair Josephson recalled that there had been controversy associated with the bill. Ms. Wing-Heier answered that the controversy was not so much about the direct healthcare, but about whether regulation should be taken on by the division. She elaborated that "they wanted it to be regulated somehow, somewhere," and it had ended up on the division's doorstep. She clarified that the division had not asked to be responsible for the regulation, but it had accepted it and the bill passed. 7:20:32 PM Representative Bynum wished there was a way to get three more zeros added to the revenue projected in the fiscal note, but he understood that was not currently possible. He asked about a couple of hypotheticals that were not included in the bill. He stated there had been many conversations about having an opportunity for cities and boroughs, particularly for employees in Teachers' Retirement System (TRS) programs, to be able to partake in health insurance in a different way. He asked if the topic had been discussed or considered as part of the omnibus package. Ms. Wing-Heir responded that Title 21 did not extend to the NEA [National Education Association] plans school districts were under and did not extend to AlaskaCare. She clarified that relatively speaking, Title 21 pertained to 118,000 of 730,000 Alaskans and represented a small piece of the insured market. She explained that Title 21 did not pertain to unions, self-insured individuals, Medicare, Medicaid, or Tricare. Representative Bynum remarked that he would not provide another hypothetical because he was certain it would not be included. Senator Bjorkman added that it was important to reiterate what Ms. Wing-Heier had said about the private insurance market and its ability to have managed care. He explained that many school districts were self-insured, including the Kenai Peninsula Borough School District, the Mat-Su Borough School District, and the Public Education Health Trust. He detailed that all of the aforementioned entities had managed care with a network and preferred providers. He explained that the bill would set up HMO options for the private market. He clarified that it was not a substandard option and gave the private market an option that many people in the public market already had. 7:23:15 PM Representative Bynum stated there had been substantial discussion over the past six months to a year in the insurance market, specifically about Alaskan homeowners being able to have their homes covered in the event of a landslide. He noted it had been a big discussion for Southeast Alaska. He asked if the topic had been under discussion pertaining to the bill. Ms. Wing-Heir responded that it had been discussed almost daily. She did not know if there was anything she could do in statute. The division had spoken with insurers and there was not currently a market or company for landslide insurance. She elaborated that the property market was shrinking and natural disasters including wildfires, atmospheric rivers, and storms causing billions of dollars of property damage worldwide were impacting the cost of property insurance. She noted that landslides were on the list among other including wildfires in Central Alaska and melting permafrost. She emphasized that because of changes, it was becoming harder and harder to insure. She knew that Southeast Alaska had a huge problem with landslide and mudslide insurance. Representative Bynum stated it was difficult to tell community members living in the middle of town that their homes and live savings could be lost with no way to recoup them. He understood there was insurance against fire and other things. He stated that living right in the middle of a community with no assurances made people lose confidence in their ability to live in Alaska communities. He remarked that it was a big concern for him. Co-Chair Foster asked if the fiscal note would be forthcoming later in the evening or the following day. Mr. Anderson shared that he had been notified by DCCED that it trying to get the fiscal note to the committee hopefully for distribution during the current evening, so that if and when the bill moved, the attached fiscal notes would reflect the current version of the bill. 7:26:05 PM AT EASE 7:29:19 PM RECONVENED Co-Chair Foster relayed that a bill could be passed without the updated fiscal note as long as the updated note was received before the bill was sent on from the committee to the House floor. He planned to have the updated fiscal note by the time the bill was heard by the committee the following day. Representative Galvin referenced Ms. Wing Heier's earlier discussion about changing some fees from $3,000 to $6,000. She understood the fees had not been changed in many years. She asked if the updated fees would fall in line with other existing fees and move the target to the right number. Ms. Wing-Heir responded that the $3,000 to $6,000 was a threshold for a surcharge on a workers' compensation policy and did not go to the state in any way. She explained that there was currently a $300 biannual fee for third-party adjusters and the legislature was asking to increase the number to a biannual fee of $5,000. There was not currently a fee on pharmacy benefit managers and the bill would add a $15,000 biannual fee. She explained that those fees fell right in the middle of fees charged in other states. She relayed that Arkansas charged $40,000 for a pharmacy benefit manager. She estimated that Alaska was probably on the low end, but there were other states like New York with a fee of $25,000 for three years. Co-Chair Foster noted that due to the complexity of the bill, some committee members had indicated they would like to sleep on it. He discussed his schedule plan for the following day. 7:33:25 PM AT EASE 7:35:16 PM RECONVENED Co-Chair Foster believed the soonest the bill could be read across on the floor was Monday. Co-Chair Schrage relayed that the soonest the bill could be on the floor was Monday. He suggested holding the bill until the following day to receive the fiscal note and report it out. CSSB 132(FIN) was HEARD and HELD in committee for further consideration. Co-Chair Foster reviewed the schedule for the following day. Mr. Anderson reviewed the bill numbers for the following day's meeting.