SENATE FINANCE COMMITTEE February 3, 2026 9:01 a.m. 9:01:00 AM CALL TO ORDER Co-Chair Hoffman called the Senate Finance Committee meeting to order at 9:01 a.m. MEMBERS PRESENT Senator Lyman Hoffman, Co-Chair Senator Donny Olson, Co-Chair Senator Bert Stedman, Co-Chair Senator Mike Cronk Senator James Kaufman Senator Jesse Kiehl Senator Kelly Merrick MEMBERS ABSENT None ALSO PRESENT Senator Cathy Giessel, Sponsor; Paige Brown, Staff, Senator Cathy Giessel; Senator Elvi Gray-Jackson, Sponsor; Liz Harpold, Staff, Senator Donny Olson; Senator Scott Kawasaki, Sponsor; Jenna Colquhoun, Staff, Senator Scott Kawasaki. PRESENT VIA TELECONFERENCE Abigail O'Connor, Chief Fiduciary Officer, Peak Trust Company, Homer; Linda Hulbert, Self, Fairbanks. SUMMARY SB 20 CPR CURRICULUM SB 20 was REPORTED out of committee with six "do pass" recommendations, one "no recommendation, and with one new zero fiscal note from the Department of Education and Early Development SB 34 REPEAL 90 DAY SESSION LIMIT SB 34 was REPORTED out of committee with four "do pass" recommendation, three "no recommendations", and with one new fiscal note from the Legislature SB 104 VEHICLES/BOATS: TRANSFER ON DEATH TITLE SB 104 was HEARD and HELD in committee for further consideration SENATE BILL NO. 34 "An Act relating to the duration of a regular session of the legislature." 9:02:31 AM SENATOR CATHY GIESSEL, SPONSOR, introduced the legislation. PAIGE BROWN, STAFF, SENATOR CATHY GIESSEL, furthered with some information about how the legislatures frequently extended sessions beyond the 120 day limit. Co-Chair Stedman asked about the constitutional limit versus the statutory limit. Ms. Brown stated that the constitution had a mandatory 120- day limit, so that was the prevailing law. Co-Chair Hoffman shared that the legislature could adjourn at any time after they pass an operating budget. Senator Kiehl reviewed the zero fiscal note. Co-Chair Stedman MOVED to REPORT SB 34 from committee with individual recommendations and attached fiscal note. There being NO OBJECTION, it was so ordered. SB 34 was REPORTED out of committee with four "do pass" recommendation, three "no recommendations", and with one new fiscal note from the Legislature 9:05:30 AM AT EASE 9:07:37 AM RECONVENED SENATE BILL NO. 20 "An Act relating to cardiopulmonary resuscitation education in public schools; relating to the duties of the Department of Education and Early Development; and providing for an effective date." 9:08:20 AM SENATOR ELVI GRAY-JACKSON, SPONSOR, introduced the legislation. 9:10:56 AM Senator Kiehl MOVED to ADOPT the committee substitute for SB 20, Work Draft 34-LS0253\I (Bergerud, 1/28/26). Co-Chair Hoffman OBJECTED for discussion. LIZ HARPOLD, STAFF, SENATOR DONNY OLSON, explained the committee substitute. She stated that the effective date was removed from the bill. Co-Chair Hoffman WITHDREW his OBJECTION. There being NO further OBJECTION, the proposed committee substitute was adopted. Senator Kiehl explained the fiscal note. 9:12:05 AM AT EASE 9:15:44 AM RECONVENED Co-Chair Hoffman shared that Co-Chair Olson wanted to point out that there were numerous occasions when he assisted them in measures with problems with their own CPR. Senator Kiehl restated the fiscal note. Senator Gray-Jackson thanked the committee. Co-Chair Stedman MOVED to REPORT SB 20 from committee with individual recommendations and attached fiscal note. SB 20 was REPORTED out of committee with six "do pass" recommendations, one "no recommendation, and with one new zero fiscal note from the Department of Education and Early Development. 9:17:42 AM AT EASE 9:19:48 AM RECONVENED SENATE BILL NO. 104 "An Act relating to the transfer of a title on the death of the owner; and providing for an effective date." 9:20:39 AM SENATOR SCOTT KAWASAKI, SPONSOR, read the Sponsor Statement (copy on file): The death of a family member is a difficult experience for any person. It is an emotional process we all have or will face that drains an individual's stamina and motivation. Add to that the legal complications and costs this familial absence inflicts on a household, it is no wonder that a death in the family is one of the most stressful events in a person life. Going through the probate process can cost a family thousands, potentially tens of thousands of dollars in legal and filing fees at a time when an individual is less able to cope with such financial pressure. SB 104 would provide an option for Alaskans to alleviate such pressures when a loved one passes. SB 104 aims to continue the work of the Uniform Real Property Transfer on Death Act (URPTDA). This piece of legislation passed in 2014 with unanimous support from both the House and the Senate and created the Transfer on Death (TOD) deed, which allows for non-probate transfers of real property. TOD deeds allow Alaskans to select a beneficiary who will receive the property at their passing and removes that property from the process of probate which can take anywhere from 6 months to several years to complete. At this time, a TOD deed cannot be issued for boats and other vehicles for which the DMV issues titles. SB 104 would ameliorate this situation. This piece of legislation would continue the ongoing effort to reduce costs and stress of probate for Alaskans by creating a streamlined service through the DMV through which any Alaskan can designate beneficiaries for both vehicles and boats by filling out a simple form. With this TOD deed, an Alaskan would be able to gain access to a vehicle or boat much faster than if they had to go through the probate process. This may seem like a moot point but consider a situation where a family runs a fishing business from their family boat. That boat is a crucial part of the business and not being able to use it for even a month could lead to bankruptcy. SB 104 would ensure such a situation would not happen. The TOD titles will be available for all boats and vehicles for which the DMV provides titles, which also includes some mobile manufactured homes under AS.45.29.102(66). The program would be self-sustaining though the fees collected from the individuals who file for the TOD deeds. At no cost to the state, SB 104 will allow countless Alaskans to pass down boats, vehicles, and some manufactured homes to beneficiaries with more ease and will help simplify the potentially complicated, costly, lengthy, and painful process of probate following the death of a loved one. 9:24:12 AM Co-Chair Hoffman stated that SB 104 was related to insurance and prior authorizations. 9:24:33 AM JENNA COLQUHOUN, STAFF, SENATOR SCOTT KAWASAKI, discussed the presentation, "SB 104, 'An Act relating to the transfer of a title on the death of the owner; and providing for an effective date'" (copy on file). She looked at slide 2, Transfer on Death Deeds • Was created in Alaskan Statute when the "Uniform Real Property Transfer on Death Act" was passed in 2014 by the 28th Legislature • AS 13.48.010 "An individual may transfer property to one or more beneficiaries effective at the transferor's death by a transfer on death deed." • AS 13.48.020 "A transfer on death deed is nontestamentary." • Not involving or creating a will • Assets subject to a TOD deed skip the probate process • TOD deeds currently can only be used for Real Property • Land and anything permanently attached to it Ms. Colquhoun pointed to slide 3, "What SB 104 Does • Extends Transfer on Death (TOD) deed to boats, vehicles, and certain manufactured homes titled through the DMV • Owner can revoke TOD deed or change the beneficiary at anytime without notice to the beneficiary • No more than two beneficiaries • Designated beneficiary can disclaim their interest • Beneficiary of a TOD deed would be subject to conveyances, encumbrances, assignments, contracts, liens, and other interests to which the boat or vehicle • Establishes the procedure to obtain a TOD deed • Owner will fill out an application and submit a fee to the Department of Administration • These fees will serve to fund the program 9:27:40 AM Ms. Colquhoun highlighted slide 4, "Benefits of SB 104 • Lowers the cost of probate for Alaskans • On average, it costs $14,225 to settle an estate • 2021 Estate Planning Report from SeniorLiving.org and Atticus • Reduces probate case load • Enabling timely maintenance and preservation of boats and vehicles • In the instance of a family fishing business, allows the business to continue uninterrupted • Allows Alaskans without ready access to law services estate planning tools • Rural Alaska • Expedites beneficiary access to boats and vehicles 9:29:57 AM ABIGAIL O'CONNOR, CHIEF FIDUCIARY OFFICER, PEAK TRUST COMPANY, HOMER (via teleconference), spoke in support of the legislation. She shared that she was an estate planning attorney in Alaska. She remarked that the ability to meet the beneficiary for a vehicle or boat could allow for another tool to meet a person's estate planning goal. 9:31:49 AM LINDA HULBERT, SELF, FAIRBANKS (via teleconference), was in support of the bill. She shared that she had experiences where the bill would have been helpful to individuals. She remarked that the bill dealt with valuable items that allowed for inclusion in the estate. Co-Chair Hoffman OPENED and CLOSED public testimony. Senator Kiehl discussed the fiscal note. Senator Kawasaki thanked the committee. 9:35:39 AM Senator Kaufman felt that the fiscal note required a high number of hours to incorporate the changes. SB 104 was HEARD and HELD in committee for further consideration. ADJOURNMENT 9:36:54 AM The meeting was adjourned at 9:36 a.m.