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From YouTube: 2/10/2021 - Senate Committee on Government Affairs
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A
A
B
C
E
A
Senator
hansen
here
chair,
dondero
loop
here.
Thank
you
very
much.
It
appears
that
we
are
all
here
so,
as
I
mentioned,
I
won't
go
through
the
housekeeping
items
today.
We
do
need
to
be
done
by
five
o'clock
and
we
have
four
bills
we're
going
to
here.
A
So
if
you
do
not
have
some
information,
please
don't
hesitate
to
reach
out
to
the
legislative
staff
we're
going
to
go
slightly
out
of
order
with
the
event
at
five
o'clock
that
several
of
us
need
to
be
off
and
on
to
another
meeting,
so
we're
going
to
start
with
senate
bill
77
and
with
that
being
said,
we
will
open
up
the
hearing
on
that
bill
and
hang
on.
Hang
on
this
measure
is
a
public
lands
committee
bill
and
revises
provisions
relating
to
public
bodies
and
senator
gokuchiya?
F
Thank
you,
madam
chair.
I
hope
you
can
hear
me
again
I'll
wing
this
for
the
public
lands
subcommittee
on
public
lands,
but
this
bill
pertains
to
all
public
bodies
presently
have
the
ability
to
obtain
cooperating
agency
status
by
signing
an
mou
with
the
federal
agencies
and-
and
that
includes
the
native
american
tribes
as
well.
F
The
problem
is
that
these
elected
officials
that
enter
into
the
mou
that
which
is
truly
a
confidentiality
agreement
with
the
federal
agencies,
then,
in
order
to
avoid
violating
the
only
immediate
open
meeting
law,
only
a
staffer
or
one
of
the
elected
officials
can
be
in
attendance
as
they
go
through
this
process.
The
predecisional
process
on
determining
an
eis
or
an
ea,
a
number
of
those
policy
decisions
that
are
typically
done
under
done
under
nepa.
F
The
national
environmental
policy
act,
and
I
just
want
people
need
to
understand
that
these
elected
officials
are
the
public
public's
representatives
to
an
otherwise
closed
process,
and
what
this
bill
does
is
would
open
it
up.
That
would
allow
that
public
members
of
that
public
body
to
attend
one
of
these
closed
meetings
without
violating
the
open
meeting
law,
but
with
the
full
understanding
that
before
they
could
make
any
decision
or
determination,
they
would
have
have
to
come
back
and
present
it
in
in
an
open
meeting.
F
The
problem
is
right:
now
you
end
up
with
one
commissioner
or
a
staffer
attending
these
closed
meetings
with
the
federal
federal
agencies,
and
I
think
it's
unfair
to
the
other
commissioners
and
as
well
as
the
public,
because
typically
you're
only
either
getting
a
staffer
or
one
elected
official's
opinion
and
guidance
in
in
this
process.
So
what
sp
77
attempts
to
do
would
be
to
allow
a
waiver
or
a
change
in
statute
that
would
allow
the
open
meeting
law
to
be
waived
in
these
cases.
F
Where
you
had
an
mou,
a
memorandum
of
understanding-
and
you
were,
you-
haven't-
cooperated
agency
status
and
that's
long
and
short
of
it.
I
know
there's
some
representatives
here
from
eureka
county
that
have
are
truly
engaged
in
this
and
possibly
other
areas,
but
the
long
and
short
of
it
is
just
a
waiver
to
avoid
the
open
meeting
law
when
you
have
been
granted
cooperating
agency
status
through
an
mou
with
the
federal
agency
and
with
that
I'll
stand
for
questions.
A
Okay,
thank
you
very
much
committee
members.
Any
questions
please.
G
Well,
thank
you.
Thank
you,
madam
chair
and
senator
gokuchi.
What
what
is
the
current
issue
with
the
law
as
president
with
the
open
meeting
law
being
applicable,
I
mean
I'm
not
sure.
I
understand
the
the
problem
we're
trying
to
solve
here
with
the
exemption
we're
seeking
an
exemption
from
the
open
meeting
law.
F
Presently,
if
more
than
one
county
commissioner
attended
that
meeting
or
this
nepal
or
eis
meeting
if
they
attended
it,
and
because
it
is
sworn
to
confidentiality,
but
if
they
attended
it
would
be
a
violation
of
the
open
meeting.
Because
again
they
have
to
have
a
posted
open
meeting.
If
there's
two
or
more
county
commissioners
there.
F
And
that
can't
happen,
because
this
is
that
it's
a
closed
session
with
the
fed
by
the
federal
agencies.
A
Senator
would
this
only
pertain
to
certain
counties
in
certain
instances-
other
entities-
I
don't
know
school
board
trustees,
whoever
from
other
counties.
Could
they
use
this
law
as
well
or
is
it
only
certain
entities.
F
Well,
I
believe
that
would
apply
to
any
public
body.
But
again
I
don't
know
what
the
circumstances
would
be.
Where
say,
the
clark
county,
school
district
would
be
meeting
with,
say
the
bureau
of
land
management
or
the
forest
service
in
a
in
a
nepa.
An
environmental
policy
act
action,
but
no,
I
think
it's
clearly
intended-
or
at
least
I
would.
I
would
think.
F
The
public
lands
committee
would
intend
this
to
to
be
extended
to
any
public
body
that
has
entered
into
this
memorandum
of
understanding
with
the
federal
agency
for
this
pre-decisional
determination
and
to
be
involved.
It's
already
an
accepted
practice
with
the
federal
agencies
that
you,
by
signing
an
mou,
you
can
be
granted
cooperating
agency
status
and
like
say
that
that
extends
to
the
native
american
tribes
as
well,
but
clearly
they
aren't
bound
by
the
open
meeting
law.
F
You
know
where
any
public
body
here
is
and
that's
the
problem,
if
more
than
one
representative
of
an
elected
board
sits
on
that.
In
most
cases,
it
would
be
a
violation
of
the
open
meeting
law,
and
that's
all
we're
trying
to
do
is
allow
the
interaction
with
the
federal
agencies
as
they
go
through
these
processes,
without
running
the
risk
of
being
in
violation
of
the
open
meeting
line.
A
Okay,
thank
you
very
much
any
additional
questions
from
members
I'm
trying
to
scan
to
see
if
I
see
any
hands
up
okay.
Well,
if
there
are
not
any
additional
questions,
then
we
will
go
ahead
and
hear
our
testimony
in
support
reminder
that
we
will
have
two
minutes
and
if
you
have
anything
else,
you
can
submit
it
in
writing.
Go
ahead
broadcasting
when
you're
ready.
D
Thank
you,
madam
chair,
we're,
actually
speaking
in
in
support.
Okay,
okay,
thank
you!
So
I'm
jake
tibbetts,
I'm
the
natural
resource
manager
for
eureka
county
and
also
you
can
see
our
county
commission
chairman
mr
j.j
gokichia,
is
on
the
line
as
well.
We
were
the
ones
that
put
this
proposal
together
to
the
public
lands
committee
and
identified
some
of
the
issues
related
to
that
nepa
in
in
nevada
having
so
much
public
land.
D
You
know
virtually
everything
that
we're
doing
has
some
nexus
to
the
federal
agencies
and
often
requires
some
nepa
process.
Another
thing
I
want
to
address
is
that
this
bill
in
in
no
way
undermines
government
in
the
sunshine
it
doesn't
allow
backdoor
deals,
at
least
that's
not
the
intent.
The
intent
is
to
allow
those
that
are
elected
to
represent
their
constituents
to
have
an
active
participation,
know
what's
going
on
and
then
to
be
informed
of.
What's
going
on,
there's
a
whole
bunch
of
background
related
to
what
is
a
predecisional
and
deliberative
process.
D
D
I'll
also
note
that
the
documents
all
this
happens,
then
it
becomes
a
public
document,
the
eis
or
the
ea
or
whatever
it
is.
That
starts
the
public
process.
Everybody
can
see
that
document.
Everybody
can
see
what
went
into
making
that
and
everybody
has
the
opportunity
to
weigh
in
at
that
point.
That's
where
a
county
would
then
go
on
the
record
in
a
public
meeting
and
and
they
they're
not
bound
to
that.
It's
now
become
a
public
document
and
they
can
go
on
record,
putting
it
outlining
their
issues,
concerns
or
anything
else
they
have
with
that.
D
So
again,
it's
not
done
behind
closed
doors,
and
then
I
just
we
did
put
a
packet
of
information
in
I
cut
and
pasted
the
various
federal
regulations
word
for
word,
so
you
can
see
what
we're
up
against
in
in
their
requirements.
D
D
What
will
happen
now,
as
senator
gokuchi
has
pointed
out,
is
that
staff
or
limited
county
commissioners
will
be
informed
and
aware,
and
others
will
be
cut
out
of
the
process,
and
we
just
don't
think
it's
right
for
appointed
staff
that
are
not
elected
and
representing
the
people
are
the
ones
representing
a
county's
interest.
We
believe
those
elected
to
represent
those
interests
need
to
be
those
at
the
table
with
the
federal
agencies,
and
I
can
take
any
questions
that
you'd
have.
A
I
appreciate
that
mr
tibbetts
and
I
see
your
letter
your
exhibit
here
with
us,
so
thank
you
very
much.
I
think
what
I'd
like
to
do
with
the
permission
of
the
committee
is
go
to
commissioner
gokuchiya
and
hear
your
remarks
and
then
go
back
to
see.
If
we
have
any
questions,
I
recognize
that
we
sort
of
went
out
of
order,
but
we're
just
moving
along
here.
So,
commissioner,
you
have
a
famous
last
name
from
one
of
my
favorite
senators.
So
please
go
ahead
when
you're
ready.
H
Thank
you,
madam
chair,
and
thank
you
to
my
younger
brother.
There
pete
for
making
our
name
so
famous
down
there.
You
did
not
go
out
of
order
ma'am.
In
all
honesty,
jake
tibbetts
is
probably
one
of
the
smartest
people
when
it
comes
to
nepa
and
cooperating
agency
status
that
there
is
in
the
state
of
nevada.
I
want
to
begin
with
saying
that
not
every
county
has
a
jake
tibbetts
and
we
are
very
fortunate
that
we
do
we.
H
We
probably
provide
more
comment
and
more
feedback
as
a
cooperating
agency
than
probably
any
other
county
in
the
state
of
nevada,
and
it's
because
of
of
that
gentleman
that
we're
able
to
do
that.
But
that
brings
up.
That
brings
me
to
the
point
of
why
this
bill
is
needed.
If,
if
jake
were
to
seek
other
employment
or
something
were
to
happen,
there
is
not
going
to
be
a
continued
line
with
the
board
of
county
commissioners.
H
I
couldn't
step
in
and
and
pick
up
and
either
could
any
of
the
other
commissioners
step
in
and
pick
up
where
he
left
off
on
a
lot
of
these
processes,
because
he
is
our
point
now
there
are
times
where
him
and
I
work
together
on
a
lot
of
our
natural
resource
issues
and
that
isn't
fair
to
the
other
commissioners
on
the
board.
If
you
will
they,
they
really
don't
know,
we
can't
disclose
with
them
what
kind
of
conversations
we
are
having
with
those
agencies.
H
If,
if
we
were,
we
would
actually
be
conducting
a
meeting
because
we're
a
three-member
board.
If
two
of
us
were
to
have
a
conversation,
or
I
tried
to
talk
to
them
about
what
was
happening,
we
would
again
be
in
violation
of
nevada's,
open
meeting
law
and
one
other
thing
I
want
to
bring
up.
Is
elected
officials
change
just
like
staff
changes,
someone
loses
an
election
chooses
not
to
run
again
and
they
are
that
county.
Commissioner,
that
is
the
point
for
blm
forest
service,
u.s,
fish
and
wildlife.
H
There
is
no
continuity
there
and
that
isn't
fair
to
the
electorate
of
our
county.
I
think
that
they
deserve
better
and
and
again
we're
not
trying
to
do
anything
behind
the
scenes
right
right
now
again,
we
do
a
really
good
job
when
the
comments
are
done
and
finalized
in
the
public
process.
We
bring
those
forward,
but
we
have
absolutely
no
way
of
bringing
that
forward
and
across
that
diocese
in
our
meeting
room
where
we
would
be
in
violation,
as
mr
tibbetts
said,
of
the
mou
that
we
sign
with
these
various
federal
agencies.
H
A
Thank
you
very
much
before
we
go
back
to
phone
call
support.
Is
there
anyone
else,
senator
gokuchiya,
that
needed
to
speak
on
behalf
of
the
bill.
F
A
Well,
hey,
take
it
take
it
for
everything
you
can
take
all
right.
I
apologize
for
the
disconnect
there
and
I'll
go
back
to
broadcasting
and
ask
them
if
there's
anybody
else
in
the
queue
for
support.
I
A
C
C
J
J
This
law
will
encourage
this
law,
will
encourage
and
enable
full
and
transparent
cooperation
between
counties
and
federal
management
agencies
and
give
county
governments
and
their
residents
full
and
fair
representation
regarding
major
plans
and
projects
affecting
their
communities.
Sb-77
will
simply
reconcile
attention
between
federal
and
state
sunshine
laws,
specifically
under
the
federal
freedom
of
information
act.
Agency
deliberations
in
the
beginning
of
the
new
of
the
nepa
process
are
privileged
and
remain
confidential.
J
In
order
to
encourage
frank
discussions
between
cooperating
agencies,
meanwhile,
nevada's
open
meeting
law
would
require
these
discussions
to
happen
in
public
without
sb.
77
federal
agencies
will
continue
to
avoid
deliberating
with
county
commissions,
because
nevada's
open
meeting
law
requires
that
any
such
discussions
be
open
to
the
public
in
contravention
of
a
privilege
under
federal
law.
While
it
may
seem
as
though
this
bill
encourages
secrecy
or
lack
of
transparency,
in
fact,
does
the
opposite.
J
C
I
Churchill
county
has
three
commissioners,
and
only
one
member
could
attend
a
session
at
a
time.
The
member
carries
issues
forward
to
the
vestability
of
the
member,
but
the
integrity
of
the
process
can
lose
some
value
if
that
member
isn't
able
to
carry
forward
the
concerns
of
other
members
of
the
commission.
I
C
C
A
Okay,
we
will
go
to
opposition.
A
Okay,
I
I
do
understand
that
we
had
some
people
that
were
trying
to
get
on.
I.
C
I
I
I
A
C
We
currently
have
more
callers
coming
in
chair.
I
will.
C
C
C
C
C
C
K
We
are
opposed
to
sb-77,
as
it
violates
the
spirit
of
nevada's
public
transparency,
laws
which
are
essential
to
maintaining
the
democratic
ideals
of
the
state
counties
and
other
public
bodies
have
participated
as
cooperating
agencies
and
nepa
proceedings
across
the
country
for
decades,
without
the
need
for
creating
new,
gaping
exemptions
from
public
transparency.
Laws
more
than
one
county,
commissioner,
cannot
participate
in
a
meeting
with
any
party,
regardless
of
whether
it's
a
closed
nepa
meeting
or
not,
without
adhering
to
the
open
meeting
law.
K
A
meeting
with
federal
agencies,
particularly
on
topics
that
have
such
a
large
impact
on
the
environment
and
communities
as
something
for
instance,
for
an
environmental
impact
statement,
should
not
be
an
exception
as
to
the
idea
that
the
public
has
transparency
at
the
time
a
draft
eis
is
put
forward.
By
that
time
the
cake
has
been
baked.
K
Substantial
changes
almost
never
occur
beyond
the
draft
environmental
impact
stage,
so
the
input
of
public
bodies
before
the
draft
has
been
prepared
is
the
critical
moment
and
if
multiple
county
commissioners
or
other
entities
are
participating
in
those
meetings,
the
public
has
a
right
to
know.
What's
going
on
in
some,
the
balance
of
competing
interests
must
fall
on
transparency
at
worst.
It
seems
that
it
is
somewhat
inconvenient
for
public
bodies
at
this
time.
K
If
so,
they
should
ask
the
federal
delegation
to
pursue
revisions
to
nepa
and
foia
statutes
in
favor
of
more
transparency,
as
opposed
to
trying
to
throttle
transparency
at
the
state
level.
Thank
you
for
considering
my
comment
and
there
was
technical
difficulties
getting
on
so
hopefully
I
know
the
number
of
other
parties
are
interested
in
this
bill.
Hopefully
they'll
get
through.
Thank
you.
A
669-900-6833
and
the
meeting
id
is
931
9664
8821
and
while
we're
giving
people
just
a
moment
to
get
on
vice
chair
orrin
shaw,
you
had
a
question
go
ahead.
Please.
G
Thank
you,
madam
chair,
and
I'll
try
to
keep
it
brief.
For
mr
donnelly,
if
this
were
to
pass
into
law,
and
this
exemption
from
the
open
meeting
law
be
granted
across
the
17
counties
in
nevada,
how
many
of
these
nepa
discussions
do
you
think
would
would
now
not
be
subject
to
open
meeting
law?
Is
there
any
idea
how
many,
how
much
of
that's
going
on
across
the
17
counties.
A
F
Sure
could
I
respond
to
that
just
for
a
minute.
The
vice
chair,
orange
holders
and
senators
senator
orange
hall.
It
wouldn't
make
any
difference.
It
would
be
the
status
quo.
It
would
limit
the
participation
right
now.
They
already
have
the
ability
as
a
cooperating
agency,
and
so
it
would
continue
to
be
very
limited,
cooperating
agency
meetings
going
on
as
per
the
mou
and
mr
donney's
right.
F
A
C
K
My
name
is
richard
carpell,
that's
k-a-r-p-e-l,
executive,
director
of
the
nevada
press
association.
We
represent
nevada's
newspapers,
local
news
websites
and
magazines
as
well
nevada's
open
meeting
in
public
records
law-
they're,
not
perfect,
but
they
set
high
standards
for
government
transparency
that
benefit
the
citizens
of
the
state
senate
bill
77.
K
K
K
For
these
reasons
and
others
that
have
been
articulated
today
by
my
colleagues
and
will
be
coming
up,
the
nevada
press
association
strongly
opposes
senate
bill
77,
and
thank
you
very
much
for
considering
our
perspective.
C
C
I
Thank
you.
This
is
maggie
mcclucky
for
the
record.
My
last
name
is
spelled
m
c
capital,
l
e
t
c
h.
I
e-
and
I'm
here
today
to
testify
on
behalf
of
the
nevada
open
government
coalition,
and
I
appreciate
all
the
help
that,
with
trying
to
get
these
call-ins
handled,
there
were
some
issues
I
will
say
with
trying
to
access
for
the
public
to
access
this.
This
hearing
about
open
government.
I
I
want
to
point
out
that
the
important
democratic
principles
under
lying
both
the
open
meeting
law
and
the
nevada
public
records
act,
don't
change,
and
it
does
the
fact
that
our
government
officials
are
supposed
to
work
for
the
taxpayers
and
the
public
does
not
change
just
because
nevada
is
working
with
a
federal
agency.
I
This
would
set
a
very
dangerous
precedent
that
would
allow
that
would
start
opening
the
door
to
getting
rid
of
our
fundamental
principles
of
openness
and
transparency,
just
because
nevada
nevada
agency
is
working
with
the
government.
We've
heard
a
lot
today
about
the
fact
that
this
won't
undermine
transparency,
because
we'll
have
government
officials
there
to
work
on
behalf
of
the
public,
but
both
the
npra,
the
public
records
act
and
the
open
meeting
law
in
fact
reflect
that
the
public
has
the
right
to
know
its
own
government
officials
are
doing.
I
They
don't
need
to
just
trust
the
representative
they
get
to
hold
their
their
representatives
accountable.
Finally,
there's
been
a
lot
of
talk
today
about
about
the
challenges
of
the
open
meeting
law
the.
I
don't
think
that
there
should
be
an
exception
to
the
open
meeting
law,
but
none
of
the
arguments
made
today
explain
why
the
changes
to
the
nevada
public
records
act
would
be
necessary
under
current
nevada
case
law.
If
a
document
truly
is
subject
to
the
predecisional
common
law
privilege,
a
government
agency
can
and
does
withhold
that
record.
I
C
C
L
K-Y-L-E-R-O-E-R-I-N-K,
I'm
the
executive
director
of
the
great
basin
water
network,
and
you
know
I
want
to
echo
what
has
been
said
as
it
relates
to
the
foundational
principles
of
our
government,
but
I
also
just
wanted
to
note
that
local
governments
aren't
between
a
rock
and
a
hard
place
as
it
relates
to
to
these
issues.
You
know
to
participate
as
a
cooperating
agency,
largely
they
have
to
silence
themselves.
L
Track
of
information-
and
you
know
it's-
that
is
not
a
good
thing,
but
I
think
you
know
again
going
back
to
those
principles
of
transparency.
L
You
know
this
is
not
the
way
that
we
should
be
fixing
the
process
right
now.
A
bill
that
results
in
less
transparency
is
is
not
the
solution
here
and
I
think,
as
it
relates
to
pre-decisional
and
and
the.
L
Process,
you
know
there
are
lots
of
of
documents
that
you
know
would
not
be
subject
under
the
the
foia
laws
from
you
know
not
being
able
to
be
out
in
the
public,
and
you
know
I
I'm
concerned
that
this
bill
would
would
would
do
that
in
nevada
where
there
are.
There
are
a
number
of
documents
that
you'd
be
able
to
get
your
hands
on
that
you
would
no
longer
be
able
to,
and
so
you
know,
I
think
the
solution
here
is
is
much
bigger
than
this
legislative
offer
right
now.
L
You
know
we
need
to
ask
the
federal
government
to
take
the
the
muzzle
off
under
nepa
and
to
change
the
foia
laws.
That's
the
real
fix
this
is
this
is
not
the
solution.
So
thank
you.
Thank.
A
And
you
are
all
welcome
if
you
are
in
the
queue
to
say
ditto,
if
you
agree
with
others.
I
Thank
you.
My
name
is
holly
welborn
h-o-l-l-y
w-e-l-b-o-r-n,
I'm
the
policy
director
for
the
aclu
of
nevada
four
times
the
term
trying
to
call
in
very
interesting
that
all
the
open
governing
folks
are
having
such
trouble
getting
in
to
provide
public
comment
this
afternoon.
I
won't
repeat
too
much
of
what
my
colleagues
have
just
said,
but
we
wanted
to
register
our
opposition
to
sb77.
I
We,
our
our
laws
in
the
state
of
nevada,
the
spirit
and
the
purpose
of
our
open
meeting
law
and
our
nevada
public
records
act
is
to
foster
a
level
of
transparency
that
is
better
than
that
that's
provided
by
the
federal
government.
By
providing
this
new
exemption,
we
are
just
moving
in
the
wrong
direction.
So,
for
the
reasons
stated
by
my
colleagues
and
the
reasons
presented
today,
we
oppose
this
legislation.
Thank
you
for
your
time.
A
Thank
you
very
much
and
we
will
close
the
public
testimony
and
thank
you
very
much
for
this
discussion
and
we
will
now
move
on
to
senate
bill.
Hang
on
hang
on.
We
will
now
move
on
to
senate
bill
39.
A
And
I
believe
that
treasurer
conine,
you
may
be.
M
Hello,
chair
just
confirming,
did.
A
You
want
to
start
with
47,
I
apologize
treasure
coin.
I
apologize
and
can
you
stand
by
for
just
one
moment
and
we're
going
to
go
to
senate
bill
28
and
I
apologize.
This
measure
revises
provisions
of
the
nevada
code
of
military
justice.
B
Okay,
madam
chair
members
of
the
committee,
I'm
lieutenant
colonel
kevin
remus
state
judge
advocate
for
the
nevada
national
guard.
I'm
here
today
to
provide
testimony
and
to
answer
questions
regarding
senate
bill.
28
from
the
office
of
the
military
with
me
is
miss
nikki
randle,
the
joint
forces
headquarters
sexual
assault
response
coordinator.
B
The
nevada
national
guard
supports
a
dual
hat
admission
and
answers
the
nation's
call
for
overseas
contingency
operations,
as
well
as
domestic
response.
Assistance
within
the
united
states,
for
both
the
federal
government
and
the
state
of
nevada
guardsmen
can
be
called
at
a
moment's
notice
by
the
governor
of
nevada
or
activated
into
a
federal
status.
B
Members
of
the
guard
commit
to
military
training
one
weekend
a
month
and
15
days
each
year
in
their
respective
military
occupations
and
career
fields.
When
we
are
activated
into
federal
service,
guardsmen
will
often
deploy
for
periods
ranging
from
several
months
to
a
year
or
longer,
when
activated
by
the
state
of
nevada.
The
lengths
vary
depending
on
the
incident
and
situation.
B
B
The
purpose
of
the
modifications
being
proposed
here
are
to
strengthen
the
nevada
national
guard's
efforts
to
support
the
adjutant
general's
goal
to
eliminate
sexual
harassment
and
sexual
assault
in
the
nevada.
National
guard,
one
of
the
main
priorities
for
major
general
barry,
is
to
ensure
that
all
service
members
in
the
nevada
national
guard
are
treated
with
dignity
and
respect.
B
Sexual
harassment
is
clearly
contrary
to
that
goal.
It
is
not
tolerated
in
the
nevada
national
guard.
At
the
present
time,
sexual
harassment
violations
are
generally
disciplined
under
nrs
412.563
disorders
and
neglect
prejudicing
good
order
and
discipline.
This
is
what
we
call
our
general
article
that
is
used
on
a
specific
punitive
provision
does
not
cover
misconduct.
B
B
N
Good
afternoon,
madam
chair
members
of
the
committee,
my
name
is
karen
nicole
randall
or
nikki
randall
as
lieutenant
colonel
remus
introduced
me.
I
am
a
captain
of
nevada
national
guard
and
I
am
employed
full
time
as
a
civilian
with
the
nevada
national
guard.
As
the
state
sexual
assault
response
coordinator,
I
manage
the
state
sexual
assault,
prevention
and
response
program,
the
sacra
program,
I'm
responsible
for
developing
and
managing
that
program,
and
I
also
serve
on
the
national
guard
bureau,
sexual
assault
task
force,
which
includes
members
across
all
the
54
states
and
territories.
N
The
goal
of
that
task
force
is
to
identify
areas
where
we
can
focus
prevention
efforts
and
identify
prevention
tools.
We
can
adopt
or
create
to
address
these
areas,
which
will
already
use
nationally,
as
well
as
here
in
nevada,
specific
to
sv
28.
Over
the
last
year,
the
nevada
national
guard
has
seen
a
significant
improvement
in
the
implementation
of
our
equal
opportunity
and
sexual
assault
prevention
and
response
programs
addressing
sexual
harassment
and
sexual
assault
in
nevada's
military
population.
N
These
efforts
have
resulted
in
increased
rate
of
reporting
and
major
general
berry
has
made
it
clear
to
all
members
of
the
national
guard
that
these
behaviors
will
not
be
tolerated,
and
they
will
that
he
will
hold
each
individual
accountable
when
invest
an
investigation
reveals
they
are
guilty
of
these
offenses.
Those
revisions
strengthen
these
efforts.
N
A
First
and
foremost,
I
want
to
thank
both
of
you
for
your
service.
The
national
guard
has
been
absolute
godsent
for
this
coveted
pandemic
that
we've
been
through
in
assisting
all
communities.
So
thank
you
so
much
for
all
of
that.
I
have
some
questions
from
the
committee
and
I
will
start
with
senator
neil.
E
Thank
you,
madam
chair,
so
I
just
had
a
question
on
section
three.
Well,
there's
two
parts
and
the
first
part
of
section
three.
It
seems
like
you
guys,
struck
out
the
part
where
I
guess
it
could
be
a
third
party
or
a
person
acting
as
an
agent
for
another
individual
who
could
have
caused
a
non-consensual
contact.
A
N
Senator
neil,
this
is
miss
randall,
so
the
proposed
definitions
are
word
for
word:
the
same
definitions
used
in
the
uniform
code
of
military
justice
and
in
the
dod
definitions.
So
I
do
see.
Yes,
there
was
that
prior
definition,
there
of
someone
causing
someone
else,
non-consensual
sexual
contact
and
colonel
remus.
Maybe
you
can
speak
a
little
more
on
this.
B
E
And
I
guess
the
reason
why
I
was
asking
was
because,
when
you
strike
out
like
in
3b
line
34
when
you
strike
out
intent,
intent
legally
is
where
you
form
the
you
know
the
the
raya
to
do
the
act,
and
so
I
just
wonder
legally,
how
do
you
go
in
and
then
establish
that
a
person
either
intended
to
do?
I
guess
you're
saying
by
any
any
form
any
whether
or
not
you
had
formed
the
intent
or
not.
C
E
A
If
I'm
missing
you
holler
okay,
I
think
that
the
only
question
that
I
had
that
I
was
wondering
about
is
who
is,
and
just
just
for
my
own
knowledge
in
this
situation,
who
is
actually
responsible
aside
from
anybody
who
might
witness
or
might
be
involved?
Is
there
anybody
else
that
is
responsible
for
reporting?
This.
B
A
Okay
and
and
the
reason
I
ask
because
I'm
an
educator
by
trade
and
so
we're
mandatory
reporters-
and
so
I
just
was
checking
on
that
all
right.
If
there
are
no
other
questions
from
the
committee,
we
will
here's
testimony
and
support
of
senate
bill
28
and
as
a
reminder
to
all
testifiers.
Please
keep
your
remarks
to
two
minutes
and
broadcasting
when
you're
ready,
you
may
begin
with
support.
C
C
K
I'm
sure
that
many
of
you
have
veterans
in
your
family
history
and
they
have
direct
experience
of
active
duty
military
service
as
we
move
forward.
Please
remember,
then,
the
family
sacrificing
the
commitment
to
serve
our
country
and
how
proudly
you
support
them.
All
we
want
to
do
is
the
best
for
them.
I'd
like
you
to
know
that
the
uvlc
supports
sb
28,
because
we
recognize
that
this
is
appropriate
timing
for
updating
the
uvlc
language.
We
believe
it's
very,
very
important
to
maintain
safety
and
to
maintain
command
and
control
throughout
the
organization.
K
I
can
say
that
I
have
taught
trained
and
adjudicated
the
dod
side
of
this.
This
process,
as
well
as
the
corporate
side
of
this
and
there's
many
many
times
that
many
people
misunderstand
this:
it's
not
not
an
easy
understand,
but
when
you're
the
victim,
it's
very
easy
to
understand,
and
certainly
I
will
tell
you
that
for
all
intensive
purposes,
uvlc
supports
this
bill.
A
Thank
you
very
much
lieutenant
colonel.
Do
you
have
any
final
remarks.
B
One
thing
I
would
say
ma'am
is
that
we
are,
you
know
in
front
of
the
active
duty
by
adding
sexual
harassment
to
our
state
military
code.
Already
I
know
when
senator
neil
mentioned.
You
know
it
is
2021,
so
we've
taken
that
step
before
the
active
duty
has,
and
that's
all
I
have
madam
chair.
A
Thank
you
very
much
and
once
again
I'll.
Thank
you
both
for
your
service
and
for
being
here
today
and
being
patient
as
we
work
through
technology,
and
we
look
forward
to
working
closely
with
you.
Thank
you
very
much.
A
M
Ready
chair
and
committee
members
thanks
so
much
for
having
me
today.
I
have
the
pleasure
of
being
your
nevada
state
treasurer,
I'm
here
to
present
two
bills:
senate
bill,
47
and
68
very
excited
about
both
of
them.
I
do
apologize
that
bill
hearing
you've
got
to
get
to
at
five
o'clock.
M
I've
got
to
present
at
right
after
the
governor,
so
I'm
gonna
go
pretty
quick,
but
certainly
if
anybody
has
any
questions,
love
to
take
them
and
if
we
need
to
take
them
offline,
also
always
happy
to
talk
about
these
kinds
of
things
going
in
order
senate
bill
47,
which
is
about
interim
devengers
in
response
to
the
devastating
financial
impacts
of
the
coven
19
pandemic.
During
the
31st
special
session,
the
nevada
legislature
passed
senate
bill
4
sb4
sb4
permitted
the
state
board
of
finance
to
issue
interim
debaters.
M
If
the
balance
of
the
state
general
fund
was
insufficient
to
meet
future
obligations,
the
provisions
of
sb4
are
set
to
expire
on
june
30th
2021.
senate
bill
47
makes
the
provisions
of
sb4
permanent
and
slightly
modifies
the
process
to
ensure
greater
checks
and
balances
upon
expiration
of
sb4.
The
state
will
have
no
mechanism
or
ability
other
than
calling
the
legislature
into
special
session
to
borrow
money
in
an
emergency
senate.
Bill
47
puts
a
permanent
tool
in
our
toolbox.
M
M
For
the
record,
we
forecast
cash
flow
by
day
through
2027
at
this
stage,
but
of
course
sometimes
there
are
surprises,
like
a
pandemic
step.
Two,
the
treasurer
notifies
the
interim
finance
committee
of
the
amount
of
the
insufficiency
and
transmits
a
request
to
allow
for
the
issuance
by
the
state
board
of
finance
and
step
three.
The
interim
finance
committee
has
15
days,
like
other
emergency
measures,
to
consider
the
item
and
deliver
a
resolution
establishing
the
maximum
amount
that
may
be
issued.
M
M
47
is
necessary
to
ensure
the
state
has
the
tools
it
needs
to
respond
effectively
and
efficiently
in
times
of
crisis,
without
happy
to
answer
any
questions
on
senate
bill
47,
I
would
say,
though,
we
didn't
need
to
use
the
emergency
measure
during
the
time
between
the
special
session
and
now,
which
we're
very,
very
grateful
for
you
don't
put
on
a
parachute
expecting
for
the
plane
to
crash
you
put
on
a
parachute
in
case
it
does
with
that
I'll.
Take
any
questions.
A
Thank
you
very
much
questions
from
committee
members.
I
believe
senator
neil
has
a
question
go
ahead.
Please
thank.
E
You,
madam
chair,
so
I
will
just
skip
to
well
there's.
I
have
two
questions,
but
the
first
one
is
and
I'm
going
to
work
backwards
so
in
in
senate
bill
4
in
the
session,
and
I
understand
where
what
you're
trying
to
do,
but
the
only
reason
why
I
voted
for
this
in
the
session
is
special
session,
is
because
we're
in
an
emergency
never
intending
for
this
language
to
be
permanent,
so
sv47
makes
a
provision
in
sv4
that
basically
allowed
revenues
to
be
pledged.
E
That
was
any
unrestricted
revenue,
including
tax
revenue,
to
be
pledged,
and
it
was,
and-
and
that
was
an
issue
for
me
because
there
to
me-
that's
an
expansion
of
power
and
the
expansion
of
power
to
then
be
able
to
use
the
unrestricted
revenue
and
including
tax
revenue,
and
it
becomes
automatic
if
ifc
doesn't
operate
within
the
15
days.
It's
just
unworkable
for
me
number
one,
because
how
do
we
know
what
those
revenues
are
designated
for?
What
we
probably
want
to
use
them
for
without
them
being
swiped?
E
So
that's
that's!
That's.
I
have
a
super
problem
with
that.
Second,
I
don't
understand
in
section
two:
the
bill
changed.
It
said
it
was
a
temporary
change
of
bank
service
charges
to
bond
administrative
expenses,
and
so
what
I
didn't
understand
was
if
sb4,
what
that
was
a
temporary
change
and
then
sv47
you're,
switching
it
back.
What
was
the
effect
of
that
language
swapping,
because
now
the
language
says
bond
administrative
expenses,
but
yet
in
the
special
it
will
switch
to
bank
service
charge.
I
don't
understand
it.
M
Of
course,
thank
you
sandra
for
the
questions
so
I'll
take
the
first
one
and
then,
if
I
could
ask
senator
or
excuse
me
senior
deputy
tara
hagan
to
jump
in
on
the
second
one
on
those
specifics,
but
as
it
relates
to
the
intention
of
that
the
revenue
language.
The
goal
here
is
to
have
a
mechanism
to
pay
the
bills
that
the
legislature
has
already
approved
right,
and
so,
when
we're
going
to
issue
general
obligation
debt.
That
means
it's
becoming
a
general
obligation
of
the
state
and
it
could
be
a
specific
type
of
revenue.
M
But
if
it
doesn't
become
a
specific
type
of
revenue,
then
it's
all
over
the
revenue
of
the
state,
just
like
the
rest
of
our
bond
issuances
right,
they're
based
on
property
tax,
but
their
general
obligation
debt.
So
if
property
tax
doesn't
become
sufficient,
then
we
have
to
take
the
money
from
other
other
revenue
streams.
The
intention
there
isn't
to
pick
and
pull
and
the
language
doesn't
pick
and
pull
from
some
specific
revenue
stream.
M
What
it
does
is
say
that
if
we're
going
to
issue
an
interim
devensure
it
just
like
the
rest
of
our
general
obligation,
debt
is
based
on
the
full
faith
and
credit
and
ability
to
pay
it
back
and
again.
This
is
specifically
for,
if
the
legislature
approves
an
expense
and
then
there's
an
emergency,
and
we
can't
pay
that
bill
right.
This
is
to
be
used
for
things
like
payroll.
M
This
means
like
for
paying
the
national
guard
right
when
we
don't
have
the
opportunity
to
get
in
a
special
session
and
cash
crunches
on
this
stage,
we're
one
of
the
few
states
that
doesn't
have
the
ability
to
do
something
like
this,
which
is
even
more
concerning
to
us,
because
we
don't
have
a
legislature,
that's
in
session
all
the
time
right.
So
we
can't
just
go
down
the
hall
and
say:
hey
folks,
we're
gonna
run
out
of
money
next
thursday.
Could
you
do
something
everybody
would
have
to
get
called
in
for
an
issuance?
M
This
isn't
something
ifc
can
do
typically,
which,
just
as
the
financial
steward
of
the
of
the
state's
bills,
the
person
responsible
for
making
sure
that
our
checks
don't
bounce
terrifies.
Me
I'll
turn
it
over
to
chief
deputy
hagan
for
the
second
question,
because
I
do
not
know
the
answer
to
that.
O
Good
afternoon,
tara,
hagan
chief
deputy
treasurer
for
the
record,
the
bank
assessment-
that
was
simply
just
a
technical
change
that
when
we
had
the
language
prior
that
said
bank
assessments,
it
was
just
dated
in
terms
of
the
cost
of
issuance
and
all
the
different
obligations
that
go
into
cost
of
intuit
issuances,
such
as
upon
council
disclosure,
council,
state
rating
agencies
and
other
fees.
So
that
was
really
just
to
align
the
statute
with
the
current
process.
Today,.
O
Tara
hagan
for
the
record.
That's
an
excellent
question,
so
we'll
have
to
get
with
the
legal
division
of
lcb
to
understand
that,
because
that
was
not
our
intention,
so
we'll
certainly
reach
out
to
them.
With
that.
A
E
A
Thank
you
any
senator
grouchochia,
a
question.
F
I'm
here,
I'm
sorry
yeah,
sometimes
my
spacebar
mute.
Sometimes
it
doesn't.
I'm
just
wondering
why
we
deleted
all
the
language
as
far
as
the
parameters
when
the
25
percent
its
lowest
average
120
days.
Why
we
deleted
all
that
then
turned
it
over
and
gave
it
to
the
state
board
of
finance
and
the
treasurer
to
determine
that
it
was
insufficient.
M
Pleasure
conan
for
the
record,
so
we
put
together
the
bill
during
the
special
session,
obviously
based
on
a
relatively
quick
drafting
process,
and
in
that
drafting
process
we
wanted
to
make
sure
that
everyone
was
comfortable
with
kind
of
the
limitations.
With
more
time.
We
wanted
to
make
sure
that
the
bill
worked
in
the
way
that
we
wanted
it
to,
which
was
a
parachute
that
could
be
pulled
by
the
people.
Looking
at
the
bank
accounts
every
day.
M
That
could
then
go
to
ifc
make
a
case
for
that
and
the
ifc
could
handle
it
now.
The
great
thing
about
this
process
is,
there
are
a
couple
of
really
significant
guide
rails
on
it.
One
is
the
legislature
has
to
approve
the
spending,
so
this
is
spending
that
has
been
approved.
This
is
payroll.
This
is,
you
know,
necessary
things
that
you
all
have
already
approved
through
the
budget
prices
and,
if,
for
some
reason,
there's
a
hold
on
revenues
right.
M
Let's
say
that
there
was
a
one
month
delay
on
gaming
revenues,
because
there
was
a
temporary
moratorium
put
in
place.
Let's
say
there
was
a
pandemic
right
and
those
revenues
don't
come
in,
but
they're
going
to
or
we
have
to
repay,
live
entertainment
taxes
like
we
did
this
time.
If
we
didn't
have
the
federal
dollars
in
the
bank
account,
we
could
run
out
of
money
right,
and
so
the
goal
here
is
for
us
to
be
able
to
shoot
up.
M
The
warning
flare
to
no
ifc
is
going
to
hear
it
within
15
days,
because
ifc
has
heard
everything.
We've
asked
them
to
hear
on
an
emergency
measure
within
15
days
and
we've
been
able
to
work
through
it
and
to
make
sure
that
then
the
state
board
of
finance
is
responsible
for
issuing
all
debt
from
an
approval.
Standpoint
is
still
involved
in
that
process,
but
the
the
tick
and
tie
here
is
the
fact
that
it's
only
things
that
have
been
legislated
be
approved
ahead
of
time.
It
doesn't
create
new
spending.
A
Okay.
If
not,
we
will
go
to
hearing
those
with
wishing
to
testify
in
support
and
I
would
remind
anyone
on
the
phone
two
minutes.
Please.
We
are
running
short
on
time
and
broadcasting
when
you're
ready.
Please
go
ahead.
A
Okay,
then,
we
will
pause
for
just
a
minute
while
we
all
get
out
senate
bill
68,
and
if
you
have
no
other
comments,
treasure
coin,
we
will
go
on
to
senate
bill
68.
M
Thank
you,
chair
moving
into
senate
bill
68
if
the
last
bill
was
a
parachute.
This
is
a
lifeline
and
an
opportunity
to
some
of
our
struggling
school
districts.
The
treasurer's
office
is
charged
with
a
number
of
critical
state
functions,
one
of
which
is
the
responsibility
of
the
investment
of
public
monies.
This
includes
all
investment
accounting
activities
relating
to
the
general
portfolio,
the
local
government,
investment
pool,
the
permanent
school
fund
and
the
oversight
of
the
invest
investment
advisors.
M
Now
I
could
talk
about
any
of
those
for
weeks,
but
since
we
don't
have
time
we'll
skip
right
to
the
meet
here,
what
senate
bill
68
does?
Is
it
modernize
and
strengthens
nevada's
current
investment
statutes
by
increasing
the
impact
of
the
nevada
capital
investment
corporation
on
public
school
funding,
ensuring
greater
participation
from
local
school
districts
and
expanding
the
state's
investment
vehicles
senate
bill
68
accomplishes
these
goals
by
making
the
following
changes.
M
Number
one
section:
two
of
the
bill
increases
the
transfer
from
the
permanent
school
fund
to
the
nevada
capital
investment
corporation
from
50
million
to
75
million
to
generate
additional
funding
for
public
schools.
The
nevada
capital
investment
corporation
is
administered
by
the
state
treasurer's
office
and
operates
through
something
called
the
silver
state
opportunity
fund.
This
overstate
opportunity
fund
invests
dedicated
capital
in
nevada
businesses
and
does
so
with
the
primary
goal
of
generating
greater
returns
for
the
state's
permanent
school
fund.
M
Server
state
opportunity
fund,
secondarily
seats
to
increase
economic
development
and
employment
in
the
state
under
under
nrs
355
280
state
treasurer
is
permitted
to
transfer
up
to
50
million
from
the
permanent
school
fund,
the
nevada
capital
investment
corporation.
To
date.
These
investments
have
generated
32.3
million
dollars
for
the
permanent
school
fund
and
12.8
million
dollars
in
interest
payment
district
directly
to
the
distributed
school
account.
Section
2
of
the
bill
increases
the
amount
of
this
transfer
to
75
million,
which
will
further
increase
investment
returns
to
support
funding
public
education
in
the
state.
M
In
the
last
fiscal
year,
more
than
half
of
the
interest
paid
into
the
dsa
came
from
this
nevada
capital
investment
corps.
It's
an
exceptionally
good
vehicle
and
the
more
money.
Of
course
we
get
into
the
distributive
school
account
the
more
money
there
is
for
things
like
teachers
and
class
size
reduction,
pivoting
to
the
other
sections
of
the
bill
under
existing
law.
M
School
districts
may
apply
to
the
treasurer's
office
for
a
guarantee
agreement
where
money
in
the
permanent
school
fund
is
used
to
pay
to
back
the
payment
of
debt
service
on
bonds
that
are
issued
for
school
construction.
The
state's
larger
school
districts
generally
bond
for
new
schools
on
their
own.
That's
clark
washoe.
However,
this
guarantee
is
critical
for
smaller,
more
rural
districts
to
help
finance
school
construction
sections.
M
Three
and
four
of
the
bill
increase
the
total
amount
by
which
the
state
treasurer
can
issue
bonds
that
are
guaranteed
by
the
permanent
school
fund
upon
requests
from
school
districts
from
40
million
to
60
million.
By
increasing
this
cap,
smaller
school
districts
can
greatly
utilize
the
state's
permanent
school
fund
and
encourage
additional
school
construction
in
areas
of
need
functionally.
What
this
does
is.
M
It
allows
us
to
use
the
state's
very
good
credit
rating
to
backstop
school
construction
bonds
in
areas
that
don't
have
as
great
of
a
credit
rating,
and
it
allows
them
to
borrow
money
more
cheaply,
which
gives
them
the
opportunity
to
build
more
things
and
spend
more
money
on
the
stuff
we
all
care
about.
Finally,
section
one
of
the
bill
allows
the
office
to
invest
in
reverse
repurchase
agreements
in
a
reverse,
repurposed
repurchase
agreement.
M
Excuse
me,
the
state,
as
the
investor
owns
a
security
which
a
bank
or
dealer
purchases
under
an
agreement
sells
back
to
the
state
at
a
specified
date.
An
agree
added,
an
agreed
upon
rate
reverse
for
purchase
agreements
can
be
used
as
a
cash
management
tool
to
help
avoid
liquidating
security
prior
to
its
match
or
maturity
date.
Excuse
me
in
order
to
meet
an
unexpected
or
immediate
cash
flow
requirement,
it's
a
cash
flow
management
tool.
It
also
allows
us
to
add
a
few
points
to
our
bottom
line.
M
This
would
provide
the
state
with
additional
liquidity
should
the
need
arise
for
an
overnight
or
ultra
short-term
loan.
The
agreements
are
highly
regulated,
performed
by
third-party
custodians
and
tailored
to
match
the
specifics
of
the
state's
statutorily
required
high-quality
securities.
Much
like
the
changes
of
senate
bill
47.
These
would
be
used
in
rare
and
extenuating
circumstances.
Excuse
me.
M
A
Thank
you
very
much
treasurer
conan
any
questions
from
the
committee.
Yes,
madam
chair,
senator
neal,
please
go
ahead.
Thank
you.
So.
E
I'll
work
backwards
for
the
60
million,
so
what
schools
are
currently
actively
trying
to
use
the
bombs?
I
know.
Historically,
there
is
a
report
that's
listed
and
it
lists
all
the
schools
by
county.
But
what
is
currently
happening
in
the
space
where
we
need
to
increase
during
a
pandemic
and
then
I'll
go
to
the
reverse
repurchase.
M
Perfect
treasure
conan
for
the
record
first
off,
and
I
think
this
is
important.
This
doesn't
cost
the
state
any
money
right,
not
a
single
dime.
These
are
refundings
and
other
agreements
that
are
made
through
those
counties
they
pay
the
cost
of
issuance.
The
state
has
absolutely
no
expense
there.
Nor
does
it
do
anything
when
it
comes
to
us
from
a
budgetary
perspective.
M
Currently,
nine
school
districts
have
active
permanent
school
fund,
guarantee
debt
totaling
161
million
in
total,
and
that
includes
carson
city
churchill,
douglas
county,
lincoln
lion,
nye
story,
white
pine
and
washoe
has
a
little
bit
we've
saved
about
11
million
dollars
for
those
districts
through
this
program.
E
And
I
guess
I
want
to
clarify
something
because
it's
not
that.
I
think
that
that
it's
costing
the
state
anything
I
feel
like
when
I
review
the
two
bills
together,
although
we've
closed
the
hearing
on
the
other
one,
this
is
an
expansion
of
power.
I
don't
understand-
and
I
guess
maybe
I'm
uncomfortable
because
there's
several
ass,
there's
a
specific
ask
in
here:
you're
jumping
for
the
two
sections,
where
you're
asking
for
increased
authority
and
increased
money
to
act.
E
I
understand
what
they
do
and-
and
it's
not
personal-
I
just
feel
like
there
are
things
that
I'm
uncomfortable
with,
because
I'm
not
understanding
a
20
million
dollar
jump
here
and
then
a
25
million
jump
there.
I
understand
the
permanent
school
fund
performs
very
well.
It
had
some
rough
years,
2011
2013
and
it's
hit
its
sweet
spot.
But
I
and-
and
those
are
my
issues
right-
it's
expansion
of
power
usually
gives
me
pause
for
concern,
no
matter
who
it
is
that's
asking,
so
I
want
to
be
clear
on
that.
E
So
let
me
just
go
to
the
repurchase,
because
it's
like
groundhog
day,
you
know
I've
seen
this
bill
at
least
or
that
at
that
concept
at
least
two
or
three
times.
Let's
how
about
you
talk
about
the
disadvantages
and
the
risks,
because
there
are
some
risks
involved
with
the
repurchase
agreements
and
typically
they're
not
used
by
governments.
Yes,
the
federal
reserve
has
used
them,
but
typically
we
don't
see
a
lot
of
engagement
on
in
state
treasurer
departments.
E
We
see
it
with
the
businesses
and
various
tools
in
which
they
use
this
this
security.
So
why
don't
you
talk
about
how
the
maturity
date
works
and
how
we
can
run
into
a
risk
there
with
it
maturing
before
it's
due.
M
Treasure
conan
for
the
record,
thanks
for
the
question
and
if
I
could
just
briefly
address
the
first
part
when
it
comes
to
expansion
of
responsibilities,
I
I'm
the
fiduciary
of
the
permanent
school
fund,
I'm
the
person
whose
name
is
on
the
responsible
documents.
M
My
office
spends
a
lot
of
time,
making
sure
that,
as
the
fiduciary
of
the
permanent
school
fund,
it
is
taken
care
of
and
part
of,
that
means
having
the
tools
available
to
it,
to
make
sure
that
it
can
grow
and
serve
its
purpose
as
a
guarantee
and
counties
have
come
to
us
and
asked
us
to
expand
this
number.
So
that
remember,
this
number
hasn't
changed
in
a
number
of
years,
even
as
the
permanent
school
fund
has
grown
right.
M
So
we
have
additional
capacity
there,
but
we
don't
have
any
way
to
actually
get
it
out
on
the
street
and
what
we're
encouraging
these
school
districts
to
do,
especially
in
time
of
crisis,
is
to
look
for
ways
to
refinance
existing
debt
at
lower
interest
rates.
They're
able
to
do
that,
but
they
need
access
to
the
permanent
school
fund,
guarantee
to
do
it
when
it
comes
to
expansion
of
powers
and
responsibilities.
M
Senator
I
I
hear
you.
This
is
an
opportunity
and
we
think
a
good
one
to
make
sure
that
the
office
works
most
effectively
taking
care
of
the
state's
money,
which
is
what
I
do
each
and
every
day
when
it
comes
to
the
reverse,
word
purchase
agreements
I'll
turn
it
over
to
chief
deputy
tara
hagan
for
specifics,
but
all
investing
have
has
risks.
The
investments
that
we
take
in
fixed
income
have
risks
the
investments
we
take
in
the
permanent
school
fund
and
ncic
has
risks.
M
The
goal
of
a
program
like
this
is
to
mitigate
those
risks
and
make
sure
that
you're
getting
securities
that
don't
have
a
maturity
date
prior
to
the
end
of
the
reverse
repurchase
contract.
I've
never
heard
of
that
happening
to
an
institution
that
does
it
at
our
level
and
with
our
level
of
control
over
the
actual
securitization,
I'm
happy
to
pass
it
over
to
chief
deputy
tear
hagan.
If
I'm
missing
anything
there.
O
I
think
just
a
couple
of
things
when
it
comes
to
the
reverse
repurchase
agreements
back
in
the
past
in
the
80s,
it
was
used
not
as
a
liquidity
tool
but
as
a
way
to
enhance
performance
on
a
portfolio,
and
so
we've
seen
that,
yes,
that
is
absolutely
a
risk,
that's
associated
with
it,
but
using
it
as
a
cash
management
or
a
liquidity
tool
to
it
to,
as
we
pointed
out
in
an
effort
not
to
sell
a
security
early
at
a
detriment
to
the
portfolio
that
is
actually
you
know,
you
can
mitigate
that
risk
by
just
using
it.
O
In
addition,
most
importantly,
probably
just
like
we
do
with
the
repurchase
agreements
that
we
do
every
day,
they're
very,
very
short
time
frames
they're,
either
overnight
or
a
maximum
of
say
five
to
seven
days,
and
that's
the
other
way
that
you
can
mitigate
the
risk
associated
with
these
type
of
agreements.
A
Thank
you
very
much
and
I
apologize
for
the
interruption.
I'm
going
to
hand
the
gavel
over
to
the
vice
chair
as
senator
goku
chia,
and
I
need
to
excuse
ourselves
to
go
to
a
finance
meeting
and
treasurer
conine.
Thank
you
for
your
patience
today
as
we
work
through
all
these
bills.
I
know
that
you
need
to
be
in
the
same
meeting
in
a
few
minutes,
so
vice
chair
orange
shell.
Thank
you
very
much
and
thank
you
to
the
staff.
G
E
So
vice
chair,
I
know,
there's
like
four
minutes
and
there's
the
meetings
getting
ready
to
kick
off.
I
just
had
one
last
question
on
the
reverse:
repurchasing
it.
Can
you
explain
the
interest
who's
is?
Are
you
getting
interest
or
how
does
it
work?
I
mean
I
know
how
it
works,
but
I
think
this
is
a
concept
I
don't
know
if
it's
ever
made
it
to
the
senate
side.
M
Treasurer
conan
for
the
record.
I
I
don't
know
that
it
has
either.
I
know
former
assemblyman
kramer
was
a
big
fan
and
brought
it
up.
Occasionally.
Chief
deputy
hagan.
O
Tara
hagan
again
for
the
record
in
terms
of
the
interest.
It's
that's
part
of
that
agreement
that,
like
I
said,
there's
there's
standardized
agreements
that
are
used
in
the
securities
world
for
these.
But
the
interest
would
go
to
the
other
party
in
terms
of
a
reverse
repurchase
agreement,
because
it
is
the
the
state
in
an
emergency
would
be
used,
utilizing
it
for
a
liquid
terms
in
terms
of
having
that
cash
available.
So
we
would
need
the
cash
they.
We
would
send
the
securities
as
a
as
a
basket
of
securities.
G
I'm
not
seeing
any
hands.
Thank
you
treasurer
conan
and
thank
you
chief
deputy
hagan.
We
will
now-
and
I
appreciate
you
have
to
go
to
the
next
meeting
and
thank
you
very
much
for
your
time.
M
Of
course,
I
treasure
conrad
for
the
record.
I
just
wanted
to
offer
for
any
member.
I
know
we're
moving
pretty
quick
here.
These
are
big,
important
things,
love
to
chat
about
it,
offline
and
answer
any
questions.
Why
make
sure
everybody
can
get
comfortable
on
what
we
think
are
pretty
pretty
important
tools
for
the
state?
I
really
appreciate
it.
Thank
you.
G
Thank
you,
mr
treasurer,
and
appreciate
your
willingness
to
chat
with
senators
offline
and
answer
any
questions.
Next,
I'd
like
to
move
to
the
anyone
else
wishing
to
speak
in
support.
If
there's
any
testimony
and
support.
G
G
G
G
G
Right
not
seeing
anyone
who
wishes
to
make
public
comment
today.
Thank
all
the
members
for
their
excellent
questions.
Thank
our
presenters
today
and
thank
broadcasting
and
staff
for
making
this
meeting
work
with
all
the
the
technology,
and
we
will
we
will
be
a
journey.
Thank
you
very
much.