HB 8-POWERS OF ATTORNEY  1:39:47 PM CHAIR STEDMAN announced the consideration of HB 8, which was previously heard by the committee on April 10, 2015. He noted that there was a new committee substitute (CS) before the committee. 1:40:34 PM REPRESENTATIVE SHELLEY HUGHES, Alaska State Legislature, sponsor of HB 8, explained that HB 8 would help protect older Alaskans who might be susceptible to fraud and financial abuse. She stressed the importance of protecting vulnerable older Alaskans by clarifying what is being signed in a Power of Attorney. She said HB 8 updates the statutory form. She related that there are over 600 allegations of financial exploitation in Alaska, many of which involve the elderly. HB 8 strengthens the statute by clarifying responsibilities of the person who is receiving the Power of Attorney, customizing it specifically for Alaska, as well as for parties who live across state lines. She opined that the updates will help vulnerable Alaskans to understand what they are signing. CHAIR STEDMAN noted the arrival of Senator Ellis. 1:42:29 PM SENATOR GIESSEL moved to adopt the SCS for CSHB 8, labeled 29- LS0055\N.A, as the working document before the committee. 1:42:35 PM At ease. 1:42:46 PM SENATOR GIESSEL amended her motion to say "version G", as the working document. CHAIR STEDMAN objected for discussion purposes. 1:43:25 PM GINGER BLAISDELL, Staff, Representative Shelley Hughes, Alaska State Legislature, presented information regarding HB 8. CHAIR STEDMAN requested a brief explanation of the technical clean ups. SENATOR STOLTZE also requested a brief presentation. CHAIR STEDMAN noted that the bill has been thoroughly explained and said he wanted to hear of the changes in the new CS. MS. BLAISDELL explained that version G improves the existing Power of Attorney by updating terminology regarding the "principal" who owns the finances and the "agent," the person who is acting on the principal's behalf. The definition for "signing" the document has been updated and now allows the individual who may not be able to write their name, to use another form of a signature, such as an audible signature or a signer on their behalf. It identifies the duties of an agent and states the responsibility of the agent to act in the best interests of the principal. MS. BLAISDELL stated that version G also adds a new section dealing with judicial relief, which allows family members or professionals who are familiar with the principal to ask a court to review an agent's actions. She noted, at the request of the committee, version G adds a signature verification line that a notary public would have to accept and recognize the information of a person who might be signing on behalf of the principal. It also adds a requirement that the principal must sign the form unless they are physically unable to. 1:47:17 PM SENATOR STOLTZE asked how incapacitation relates to the bill. REPRESENTATIVE HUGHES explained how the changes would protect an incapacitated person. Previously, the principal might not have known what they were signing due to the wording on the form. She noted wide-spread support for the bill from the Commission on Aging, AARP, Association of Mature Americans, and the Mat-Su Coalition on Aging. 1:49:04 PM CHAIR STEDMAN requested a review from the Lt. Governor's Office in order to minimize the potential of someone taking abusive action over someone else's finances. CHAIR STEDMAN removed his objection and version G was adopted. REPRESENTATIVE HUGHES thanked the committed for their support. 1:50:18 PM SENATOR GIESSEL moved to report SCS CSHB 8 (HSS), version G, from committee with individual recommendations and attached zero fiscal notes. There being no objection, the motion carried.