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Description
House Finance, Ways, & Means Committee- April 20, 2022- House Hearing Room 1
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C
You,
madam
chair
lady
and
thank
you
committee
house,
bill
2656
is
speaker,
sexton's
bill
and
I'm
honored
to
to
help
move
it
along.
It
is
a
an
attempt
to
to
begin
to
bind
up
some
of
the
wounds
that
have
been
caused
by
the
criminal
justice
system.
The
way
it
operated
for
the
past
several
years
as
it
relates
to
victims
and
victims
families,
because
when
a
judge
gives
a
sentence
or
a
jury
gives
a
sentence.
C
There
is
absolutely
no
one
who
knows
how
long
somebody's
going
to
be
in
a
penitentiary
and
the
red
date
moves
constantly
the
the
d.a
can't
tell
you.
The
judge
can't
tell
you,
the
jury
can't
tell
you.
The
defense
lawyer
can't
tell
you
department
of
corrections,
can't
tell
you
nobody
knows
so.
These
families
find
themselves
when
all
of
a
sudden
they're
issued
to
notice
that
they
got
a
parole
hearing
and
they've
got
to
go
beg
a
parole
board
to
keep
this
person
in
the
prison.
So
this
bill
fixes
this
when
it
comes
to
violent
crime.
C
This
bill
says
that
on
these
first
20
offenses
that
are
serious,
violent
crimes,
you
will
serve
exactly
what
the
judge
or
jury
gives.
You
there'll
be
no
question.
Everybody
will
know
now.
There
might
be
another
amendment
coming
on
this,
but
the
amendment
that
I
have
sets
five
of
these
things
apart
and
allows
not
sentencing
credits
as
you
know
them,
but
programming
credits.
C
B
B
D
Thank
you
ma'am
chairman,
and
this
amendment
does
in
large
part
what
chairman
halsey
has
already
described,
and
I
will
say,
chairman
holes
and
I've
been
working
on
this
for
a
long
time.
So
as
a
speaker,
there
are
many
many
people.
In
fact,
you
know
the
governor's
worked
on
this
for
years
and
years.
First
time
I
met
our
governor
was
on
a
task
force
that
bill
haslam
had
put
together
and
trying
to
figure
out.
What's
the
best
way
to
go
about
criminal
justice
reform
so
that
we
are
tempering
justice
with
mercy.
D
And
last
year
we
passed
some
extraordinarily
good
bills
that
this
body
supported
that
our
governor
put
forward.
That
shows
mercy
to
a
lot
of
folks
and
puts
a
lot
of
really
good
programs
out
there
and
gives
a
lot
of
folks
a
second
chance
to
prove
that
they
can
re-enter
society
and
do
right.
There's
a
few
crimes
that
involve
victims
that
you
just
have
to
make
sure
at
the
front
end
of
the
sentence.
D
Everybody
knows
exactly
how
long
the
sentence
is
going
to
be
and
those
sentences
have
to
be
swift.
They
have
to
be
certain
and
they
have
to
send
out
a
message
loud
and
clear
that
if
you're
going
to
commit
homicide,
if
you're
going
to
commit
vehicular,
homicide
and
I'll
say
this,
one
has
always
struck
home
to
me
very
closely,
and
most
of
you
in
this
room
will
know
this.
But
just
hang
with
me
for
a
moment.
D
I
don't
talk
about
it
a
lot
publicly,
but
the
reason
I'm
sitting
here
today
is
that
when
I
was
just
two
or
three
years
old,
a
drunk
driver
killed
my
aunt
lola,
my
mother's
sister,
and
I
saw
from
the
eyes
of
just
a
kid.
I
don't
even
remember
it.
I've
heard
the
stories
my
entire
life
about
what
happened,
but
I
grew
up
in
a
family
that
had
to
deal
with
the
fact
that
my
aunt
lola
never
got
married.
She
never
graduated
high
school.
D
She
never
got
an
opportunity
to
have
a
job
or
family
or
anything
else,
and
we
got
drugged
through
the
criminal
justice
system
and
whip
solved
back
and
forth
until
I
was
a
young
man,
and
it
literally
is
something
never
nobody
should
ever
ever
ever
experience.
So,
as
a
first
generation
college
student,
I
went
off
to
law
school
and
the
only
thing
I
ever
wanted
to
be
was
an
assistant
district
attorney
and
I
went
and
worked
for
the
man
ray
whitley
who's,
the
district
attorney
in
summer
county
who
prosecuted
the
fellow
who
killed
my
aunt
loa.
D
D
This
amendment
allows
for
a
very
few
of
these
crimes,
not
vehicular
homicide,
not
the
other
list
of
defenses
to
be
able
to
get
up
to
15
program
credits.
So
if
they
want
to
get
into
a
program
in
prison
and
get
out
just
a
little
bit
early,
there's
no
parole
board,
there's
nobody
to
go
big
for
the
defendant
or
the
victim's
family
to
go,
but
they
can
get
out
a
little
bit
early
if
what
they'll
spend
their
time
in
prison
in
a
way
that
will
help
them
not
re-enter
the
criminal
justice
system.
D
That's
the
goal
for
everybody
else.
If
somebody
gets,
for
instance,
a
10-year
sentence,
it's
going
to
be
10
years
period
for
these
few
crimes
for
everything
else.
We
already
have
laws
on
the
books
to
be
able
to
help
these
people
now.
Thank
you
all
for
just
hearing
a
little
bit
about
my
family
history,
but
it's
a
part
of
who
I
am
and
if
there's
any
single
family
out
there
that's
listening
and
watching
this
build
closely
because
members,
I
promise
you
there
are
hundreds
that
are,
and
many
of
them
have
contacted
you.
D
I'm
sure
this
stuff
matters
so
from
here
forward.
Every
family
will
know
that
when
the
judge
says
10
years,
it's
10
years
and
I
hope
anybody
that
might
even
think
about,
for
instance,
getting
behind
the
wheel,
intoxicated
and
endangered
others.
Lives
will
understand
that
if
you
do
that
crime
here
you're
going
to
do
real
time,
this
will
be
the
toughest
truth
and
sentencing
bill
anywhere
in
the
country.
It
will
make
tennessee
safer.
It
will
make
a
difference
for
our
future,
and
I
ask
you
to
support
this
amendment.
Thank
you,
madam
chairman.
B
D
E
Those
are
your
100
legislation
requiring
100
of
the
sentence
imposed
by
the
court
with
release
eligibility
at
85
percent
served
with
credits
supplied
are
for
the
following:
offenses
aggravated
assault
if
the
assault
involves
the
use
of
a
deadly
weapon,
reckless
aggravated
assault.
If
the
offense
involved,
the
use
of
a
deadly
weapon
aggravated
assault,
I'm
sorry,
the
previous
one
was
reckless
aggravated
assault.
If
the
offense
involved,
the
use
of
a
deadly
weapon
aggravated
assault.
E
If
the
offense
involves
strangulation
or
attempted
strangulation
aggravated
assaults,
if
the
offense
results
in
serious
bodily
injury
or
death
of
another
aggravated
assault
against
a
first
responder
or
nurse.
If
the
offense
used
involved,
the
use
of
a
deadly
weapon
aggravated
assault
against
the
first
responder
nurse.
If
the
offense
involves
strangulation
or
attempted
strangulation,
voluntary,
manslaughter
vehicular
homicide
can
creating
a
substantial
risk
of
death
or
serious
bodily
injury
and
the
contact
and
involving
drag
racing
or
within
a
construction
zone.
D
Think
man,
chairman
and
again
it's
it's
different
categories
and
obviously
it's
several
different
offenses.
All
of
these
are
100.
The
second
ones
that
you
heard
listed
have
that
15
eligibility
if
they
do
the
programs,
while
they're
in
the
first
list
that
you
heard
are
100
and
there's
no
reduction
whatsoever
and
neither
scenario
would
a
defendant's
family
or
victims.
Family
have
to
appear
before
parole
board,
and
so
it's
at
the
beginning
of
the
sentencing.
D
You
know
when
the
sentence
happens
in
court
when
a
judge
actually
issues
that
sentence,
then
at
the
very
beginning
everyone
is
going
to
know
what
exactly
the
sentence
is
for
that
second
group
of
crimes,
again
up
to
15,
could
be.
This
is
very
similar.
The
85
percenter
85
percent.
There
is
very
similar
to
what
we
have
on
the
books
now
for
several
crimes,
but
it
does
increase
these
up
to
that
85
percent
these
crimes,
the
100,
is
beyond
anything
that
we
have
on
the
books
currently,
which
is
riots
reserved
just
for
those
particular
crimes.
B
And
just
for
those
who
were
attempting
to
count
as
our
legal
counsel
went
through,
there
are
nine
of
those
crimes
that
require
100
without
any
kind
of
reduction.
So
again
we
have
other
people
on
the
list,
leader,
kemper
you're.
Next.
F
Thank
you,
madam
chair.
I
was
just
going
to
ask
the
leader
what
was
the
major
difference
between
the
two
amendments?
Did
you
is
this
the
portion?
That's
the
major
difference
between
the
two
amendments
or
there's
some
other
things
in
there.
That
was
a
major
difference
between
his
amendment
we
put
on
and
the
one
we're
considering.
D
B
D
Thank
you
and
the
one
we're
considering
has
that
85
percent
and
the
other
one
there
was
90
there's
some
other
small
shifts
around,
but
that's
the
biggest
shift
is
that
of
the
two
categories
some
of
those
went
from
to
85
and
that
matches
in
large
part,
what's
already
in
the
statute
for
other
crimes
that
are
not
in
this
list.
We
already
have
85
crimes
that
are
on
the
books.
This
just
matches
up
more.
Similarly
to
that.
G
Thank
you,
madam
chair,
as
you
were
going
through,
the
list
of
legal
you
mentioned
control
substance
was
that
in
the
hundred
percent
or
the
eighty-five
percent,
or
what
percent
was
that
in.
B
E
E
That
that
could
be
we
have
in
tennessee.
I
think
six
different
categories
of
controlled
substances.
So
it's
it's
any.
E
D
We
are
only
talking
about
the
highest
level
of
drug
dealers
that
are
out
there
there.
There
are
others
that,
maybe
you
know
in
a
resale
situation
that
are
lower
level
crimes
still
felonies,
but
on
the
lower
end
and-
and
we
can
check
with
legal
just
to
make
sure
this,
but
I
believe
we're
only
talking
about
a
b
and
c
felony
drug
resale.
So
you're
talking
about,
I
mean
those
that
are
that
are
selling
a
large
amount
of
drugs,
not
someone
who,
while
still
wrong
and
illegal
but
not
selling
a
small
amount.
D
So
we're
not
talking
about
casual
cha
exchange,
we're
not
talking
about.
G
E
Representative
miller,
so
as
the
leader
described,
this
would
apply
to
a
b
class,
a
b
and
c
felonies.
E
So
the
class
c
felony
we're
talking
about
the
the
lowest
level
that
would
apply
to
this
with
marijuana
and
the
amount
of
marijuana
that
would
have
to
be
sold
would
be,
let's
see
not
less
than
20
marijuana
plants
or
more
than
99
marijuana
plants
or.
E
Four
pounds
to
eight
pounds
worth
of
hash,
so
it's
it's
a
significant
amount
of
oh
marijuana
would
be
a
class
c
felony.
E
Yes-
and
I
do
not
believe
that
law
is
actually
changing,
it's
the
we're
talking
about
the
sentences,
so
the
so
and
with
regard
to.
E
Yeah
and
then
and
that's
hash,
so
we're
talk
so
we're
talking
about
for
a
class
d
felony
if
you're
talking
about
the
which
would
not
apply
to
this
we're
talking
about
containing
not
less
than
10
pounds
of
marijuana
nor
more
than
70
pounds
of
marijuana.
So
essentially
over
70
pounds
is
when
you're
going
to
get
into
this
class
c
felony,
which
would
and
that's
two
convictions
which
you
would
serve
at
85
percent
as
a
minimum.
E
The
statutes
implies,
or
basically
you
are
inferred
to
when
you
possess
an
amount
over
a
certain
limit.
You
are
inferred
to
be
or
considered
to
be
possessing
it
with
the
intent
to
distribute
so.
D
D
The
intoxication
is
at
the
hundred
percent
with
no
release
eligibility
drag
racing,
reckless
driving
those
are
still
again
extremely
egregious
offenses,
and
the
sentence
would
be
increased
right
now
that
release
eligibility
is
at
30
for
most
offenders,
and
so
that
would
just
move
it
up
to
85,
but
there
would
be
at
least
some
release
eligibility
for
those
folks,
but
the
drag
racing
itself
is
on
the
list.
Only
it's
only
if
it
involves
a
fatality.
A
Thank
you,
madam
chair
was
I,
and
I
don't
know
if
this
is
a
question
for
legal
or
for
the
leader,
but
was
aggravated
assault
with
the
deadly
weapon
on
that
list
of
85
percent.
E
B
B
B
B
A
Thank
you,
madam
chair
house,
bill
1981
would
codify
the
use
of
non-licensed
and
entry-level
personnel
to
operate
an
ambulance.
These
non-licensed
and
entry-level
operators
will
have
no
medical
contact
with
patients
above
their
scope.
They
will
be
accompanied
by
a
licensed
personnel
with
appropriate
medical
training
and
they
will
be
required
to
enter
further
training
within
12
months.
A
B
Thank
you
speaker,
I
would
say
I
know
in
my
area
and
I'm
sure
many
others
across
the
state
getting
emergency
services
personnel.
It's
there's
a
workforce,
labor
shortage
there
as
well.
So
I
think
this
will
be
helpful
to
many
of
us
back
home.
Are
there
questions
seeing
none
we're
voting
on
house
bill
1981
going
on
the
calendar
and
rules
all
those
in
favor,
please
signify
by
saying
aye
any
opposed.
B
B
A
Thank
you,
chair,
lady,
and
thank
you
committee.
This
bill
came
to
me
from
the
tennessee
funeral
directors
association.
It
is
a
three-part
bill.
It's
for
continuing
education
for
funeral
directors
or
embalmers
requiring
them
to
do
the
last
five
hours
of
continuing
education
in
a
virtual
if
it's
virtual
or
in
person,
but
just
some
interaction
between
the
person
taking
the
course
and
the
teacher.
A
The
second
part
to
the
bill
is
unlicensed
funeral
assistant,
bad
actors.
We
had
one
in
middle
tennessee
we're
trying
to
keep
that
from
happening
again
and
the
third
one
is
pre-need
sales
agent
for
pre-need.
Preparations
for
funerals
do
not
have
to
have
both
the
director's
license
and
a
pre-need
sales
license.
If
you
already
operate
a
funeral
home,
you
already
have
a
license
to
do
business.
B
A
B
I
Thank
you,
chair
lady.
I
appreciate
that
this
this
bill
is
about
creating
an
avenue
in
a
in
a
simpler
way.
For
folks,
like
me,
that's
been
in
the
home
building
business
or
a
plumber
or
electrician
to
be
able
to
enter
into
our
high
schools
and
teach
cte
and
vocational
high
schools.
I
think
that
we
need
we
need
kids,
that's
growing
up
to
be
around
people,
that's
been
out
in
the
real
world.
I
I
think
it
will
help
them
and-
and
I
think
it'll
be
a
big
asset,
and
this
will
just
create
a
way
for
for
that
path,
to
be
easier.
There's
a
lot
of
us
that
are
aging
out
of
this
profession.
Yes,
chairman
hicks,
your
papaw
is
getting
older,
it's
happening,
and-
and
this
will
be
a
this-
will
be
a
way
to
to
to
get
get
me.
Maybe
a
fourth
career,
that's
what
I
need
yeah.
So
thank
you.
B
All
right
you've
heard
the
elder
hicks
explanation.
A
I
I
It
would
be
paired
with
a
mentor
teacher
instead
of
somebody
like
me
having
to
go
back
to
college
so
because
that's
that
probably
would
work
out
real
well,
so
that
it
was
a
a
good
plan,
and
I
appreciate
the
department
working
with
me
on
that.
B
B
B
J
Thank
you,
john.
I
appreciate
that
madam
chair,
this
house,
bill
2261,
is
brought
to
me
by
the
tennessee
hospitality
association
and
working
with
the
abc.
It
does
some
administrative
changes,
I'm
gonna
it
does
five
changes.
I'm
gonna
go
through
them.
Real,
quick
one
change
is
the
synchronizes
business
licenses.
So
if
you
have
more
than
one
business
then,
instead
of
renewing
two
or
three
throughout
the
year,
you
will
synchronize
and
have
one
renewal
date.
J
It
also
does
for
catering
the
the
caters
can
give
a
two-day
electronic
notice
and
get
a
receipt
from
that
and
also
allow
the
wholesaler
to
deliver
straight
to
a
catering
site
instead
of
through
the
restaurant,
then
to
a
catering
site
and
last,
it
also
does
a
notification
for
a
violation
of
the
owner.
So
during
the
neural
process
the
owner
will
put
their
their
name
and
email
address
down
and
the
violation
go
directly
to
them.
Instead
of
a
third
party,
so
with
that
brief
explanation,
I'll
be
happy
to
answer
any
questions.
Madam
chair.
B
B
A
Amendment
we
want
to
put
on
to
help
clarify,
clarify
this
legislation,
and
I
defer
to
chairman
williams
on
that.
B
K
Thank
you,
madam
chairman.
The
just
clarify
the
posture
that
we're
in
we
the
subcommittee
made
it
amendment
to
this
bill
and
subcommittee.
That
amendment
is
still
traveling
with
the
bill,
and
this
would
be
an
amendment.
The
speaker's
office
and
colonel
whitson
have
been
working
diligently
with
interested
third
parties
regarding
some
of
the
concerns
that
they
have
so
this
this
bill,
or
this
amendment
is
an
attempt
to
try
to
ease
concerns
and
further
clarify
what
the
intent
of
the
legislation
is
to
do.
K
I
will
say
that
the
the
reason
for
some
this
bill
stems
a
lot
as
it
relates
to
a
supreme
court
case
involving
citizens
united,
that
ruled
that
no
one
could
restrict
communications,
nor
could
they
force
people
to
disclose
who
their
contr
contributors
are,
and
so
even
the
original
bill
this
bill
and
the
other
bill
does
not
that
it
meets
those
requirements,
as
it
relates
to
those
two
results
from
that
supreme
court
case,
and
so
that
being
said
in
subsection
b
of
the
amendment,
it
clarifies
that
this
does
apply
to
only
state
candidates.
K
I
think
before
previously
there
was
some
concern
of
whether
or
not
these
reporting
mechanisms
to
further
transparency
would
apply
to
local
candidates.
This
clarifies
that
it
does
not.
It
also
seeks
to
clarify
three
areas
that
were
that
are
not
deemed
communication,
and
those
three
areas
are,
if,
if
you
have
any
oral
written
or
electronic
transmission
of
any
documents
to
those
people
who
are
the
members
of
your
group?
So
if,
if,
if
you
wanted
to
send
it
to
to
to
somebody
that
was
on
that,
remember,
she
could
do
that.
K
But
if
you
wanted
to
send
it
to
someone
a
group
of
people
from
a
zip
code
or
a
voter
file
database,
that
would
be
different
than
who
your
members
are,
and
this
separates
the
difference
between
those
two.
It
also
seeks
to
clarify
that
any
of
the
communication,
the
these
communication
or
this
bill
would
not
apply
if
we
were
in
a
special
session
that
was
within
60
days
of
of
a
of
an
election
either
a
primary
or
special
or
whatever.
K
K
If
you,
if
you
did
a
report
prior
to
the
60-day
period
and
that
port
report
was
listed
on
your
website
as
long
as
it
was
something
that
you
did
in
your
regular
business,
then
you
could
continue
to
do
that
of
your
entity.
But
if
you
went
to
direct
people
to
that,
or
even
if
it
was
an
older
report
or
you
or
spent
five
thousand
dollars
more
trying
to
distribute
that
information,
then
that
also
would
not
apply.
So
with
that.
B
B
Seeing
none
later
camper,
I'm
sorry,
I
didn't
see
you.
F
I
know
you
didn't
say
thank
you.
Thank
you,
mr
sponsor
of
the
amendment
I
talked
to
you
earlier
about
the
portion
on
the
pre-check.
Could
you
explain
that
to
us
for
the
record.
K
K
What
it
what
happens
sometimes
is
entities
will
send
mail,
solicitation
mail
to
individual
person's
house,
asking
them
to
be
a
member
of
their
group
or
a
platinum
member
of
their
group
or
whatever,
and
they
would
go
ahead
and
check
the
box
that
says
that
you
accept
being
this
member
and
what
had
happened
is
we
believe
that
that
the
the
individuals
have
to
check
that
box
themselves
without
having
it
checked
for
them
that
way,
it
eliminates
any
fraud
or
miscommunication
about
what
the
actual
person
wanted
to
do,
and
so
you
cannot
have
pre-checked
boxes
anymore.
F
K
K
G
And
reading
the
amendment
it
states
it
requires
each
candidate
for
chancellor
circuit
court,
judge
criminal
court
judge
for
a
judge
of
a
state
trial
court
of
record
to
submit
a
disclosure
statement.
K
Yes,
it
is
still,
it
was
a
a
part
of
the
previous
amendment,
but
it
still
applies
here.
The
rule
of
code
of
conduct
for
judges
is
different
than
it
is
for
us,
and
currently
it's
not
required.
Although
some
will
fill
out
statements
of
interest,
this
would
require
them
to
fill
out
state
statements
of
interest.
K
K
K
B
Any
opposed
the
eyes
have
it
amendment
17792
is
hereby
attached.
We
are
now
back
on
the
bill.
As
amended,
question
has
been
called
on
the
bill,
any
objection
to
call
in
question,
seeing
none
we're
voting
on
house
bill
1201
all
in
favor,
please
signify
by
saying
aye
any
opposed
the
eyes.
Have
it
house
bill
12
on
one
moves
on
to
calendar
and
rules
that
completes
this
calendar
for
today,
but
we
do
have
our
constitutional
amendment
calendar
that
we
will
take
up
next
members.
So
you
have
that
on
your
dashboard.
B
B
B
A
Thank
you
miss
madam
chair
and
members.
This
bill
is
the
constitutional
amendment
cleanup.
It
proposed
amendment
to
remove
article
9,
section
1
of
the
constitution
of
tennessee,
which
provides
that
no
minister
of
the
gospel
or
priest
of
any
denomination
whatsoever
shall
be
eligible
to
a
seat
in
either
house
of
the
legislature.
B
I
see
no
questions.
We
are
voting
on
sjr
55,
which
I
believe
may
happen
shortly.
Item
number
two
on
our
calendar.
I
will
turn
this
over
to
chairman
hicks.
A
B
Thank
you,
this
resolution,
just
I
will
amend
article
2
section
31
of
the
constitution
to
allow
the
investment
of
state
funds
and
equities.
That
is
stocks.
Currently,
the
constitution
prohibits
that
and
it
does
inhibit
our
ability
as
the
state
to
take
advantage
of
some
investment
opportunities
and
that,
in
turn,
inhibits
the
state's
ability
to
provide
needed
services
to
its
citizens.
B
So
the
proposed
amendment,
language,
if
approved
by
the
citizens,
would
provide
that
state
funds
can
be
invested
in
equities
with
the
adoption
of
an
investment
policy.
That
policy
would
be
developed
by
the
governing
body
or
state
official
charged
with
carrying
out
the
purposes
or
or
objectives
of
the
fund
or
trust
administered
administered
by
the
state,
and
that
policy
would
have
to
be
approved
by
the
state,
treasurer
and
the
comptroller.
B
And,
as
you
all
know,
the
constitutional
amendment
process
is
a
fairly
lengthy
one
and
rightfully
so,
where
it's
a
big
step
to
modify
the
constitution.
If
the
amendment
is
passed
during
this
general
assembly,
it
would
then
have
to
be
passed
during
the
next
general
assembly
by
two-thirds
vote
to
be
placed
on
the
ballot
in
2026..
A
G
Thank
you,
mr
chairman.
Madam
chair,
later,
in
your
explanation,
you
you
mentioned
that
the
treasurer
and
the
comptroller
would
be
the
deciding
factor
in
any
policy
changes
or
any
investments.
Those
two
individuals
would
have
the.
B
Just
for
clarity,
let
me
read
you
the
exact
language
or
the
statement.
The
proposed
amendment
language
provides
that
state
funds
may
be
invested
in
equities
with
the
adoption
of
an
investment
policy
that
would
be
developed
by
the
governing
body
or
state
official
charged
with
carrying
out
the
purposes
or
objectives
of
the
fund
or
trust
administered
by
the
state.
That
policy,
whether
developed
by
the
governing
body
or
the
state
official,
would
then
be
have
to
be
approved
by
the
state
treasurer
and
the
comptroller.
G
B
H
Thank
you,
mr
chairman.
My
name
is
roy
west
chief
of
staff
for
tennessee
department
of
treasury
to
clarify
the
treasurer
is
actually
walking
down
at
this
moment,
he's
probably
just
about
to
walk
in
but
I'll
start
roy
west
chief
of
staff.
G
Yes,
my
name
is
thomas
kim
deputy
chief
investment
officer
at
tcrs.
A
H
Yes,
thank
you,
sir.
The
investment
policy
regulates
the
asset
classes
that
the
overall
investment
team
can
invest
in.
We
have
investment
analysts
who
then
determine
what
is
best
for
the
individuals
or
the
beneficiaries
in
the
plan
to
ensure
that
we
get
the
best
return.
So
those
analysts
research
and
then
determine
with
the
fiduciary
interest
that
we
make
the
right
decision.
A
H
Thanks,
sir,
the
currently
the
department
of
treasury
is
able
to
invest
in
equities
with
the
tennessee
consolidated
retirement
system,
the
chairs
of
excellence
and
the
tennessee
promise
fund.
This
would
this
amendment
would
allow
for
other
state
funds
that
are
deemed
necessary
to
be
invested
in
equities,
so
all
state
funds
would
be
subject
to
this
if
there
was
a
need-
and
it
was
deemed
appropriate
by
the
comptroller
and
the
treasurer
who
is
now
here
and
I'll-
allow
him
to
to
take
over.
A
L
H
A
All
right,
all
right,
let's
go
to
representative
sexton
just
reading
the
bill.
A
I
was
interested
in
the
part
that
says,
and
it
may
not
be
relevant
than
I
suppose,
that
it
is
invested
by
the
treasury
that
contains
state
funds
and
whole
or
in
part,
to
adopt
and
approve
of
the
treasury
and
comptroller
of
the
treasurer,
an
investment
policy
to
authorize
all
or
part
of
funds
or
trust,
be
invested,
such
that
the
stake
that
the
state
would
become
the
owner,
and
this
is
what
I'm
interested
in
the
owner
in
whole
or
in
part
of
any
bank
or
stockholder.
L
It
means
equity
securities,
that's
using
the
original
language
from
the
1870
constitution.
For
some
reason,
they
wrote
in
a
very
stilted
way
back
then
that
the
state
would
not
be
an
owner
of
any
bank
association,
etc,
etc,
and
that's
really
kind
of
odd
language
for
today's
world.
It's
really
equity
securities
is
what
it
means
and
why
they
expressed
it
that
way
back
then,
I
don't
know
the
attorney
general's
office
when
they
drafted.
Our
amendment
wanted
to
use
that
same
language.
Again.
L
Oh,
it
is
possible,
the
state
could
own
a
bank,
I
mean,
will
you
you
know
that
you,
you
can
buy
an
index
of
bank
stocks
today,
the
msci
financial
index,
you
know
and
own
stocks
of
many
banks
simultaneously.
So
it's
quite
possible.
You
could
do
that
when
you
say
own,
a
bank
chairman,
it's
not
in
the
sense
of
us
trying
to
obtain
control
of
a
bank
or
anything
like
that.
It's
just
buying
for
the
purposes
of
return
to
generate
a
return.
You
know,
so
we
might
own
a
small
amount
of
stock.
L
K
Thank
you,
mr
west.
I
just
had
a
quick
question
for
you.
Could
you
tell
us
again
what
your
title
is.
H
Thank
you,
mr
representative.
Roy
west
chief
of
staff,
tennessee
department
of
treasury.
K
Okay,
I
think
you
also
had
a
title
previous
to
that.
I
think
you
earned
as
an
intern
in
a
very,
very
good
office,
one
of
the
members
here
in
this
body.
But
could
you
share
with
the
body
what
your
your
title
was
as
my
intern.
H
Thank
you
chairman.
The
official
title
was
ambassador
west.
K
Yes,
like
the
body
to
recognize
ambassador
west
and
his
great
achievements
and
the
treasures
all
the
things.
H
A
A
B
Thank
you,
mr
chairman,
that
does
complete
both
our
calendars
for
today,
but
I
believe
chairman
zachary
has
an
announcement.