TAPE/#

Speaker

Comments

TAPE 54, A

002

Chair Brown

Calls the meeting to order at 8:35 a.m. Opens the work session on HB 2091

HB 2091 – WORK SESSION

005

Janet Adkins

Committee Administrator.  Explains HB 2091.  References the -1 and -2 amendments (EXHIBIT A and B).   States that HB 2091 has been reviewed by the Office of Regulatory Streamlining and the Management and Labor Advisory Committee.

017

John Shilts

Administrator, Workers’ Compensation Division.  Speaks in support of HB 2091 and the -2 amendments (EXHIBIT B).  Says that the only additional change that the -2 amendments made over the -1 amendments is that the -1 amendments made a one word change.    

041

Chair Brown

Asks Mr. Shilts to comment on the fiscal impact of HB 2091.

042

Shilts

States that the Workers’ Compensation Division believes that the fiscal impact will save about $200,000 to $250,000 per biennium.  States that there is no fiscal impact on the Workers’ Compensation Board. 

054

Adkins

Says that the Legislative Fiscal staff said there was no reason for HB 2091 to come before the Ways and Means Committee.  States that HB 2091 has been anticipated by the Governor’s budget.

062

Sen. Kitts

MOTION:  Moves to ADOPT HB 2092-2 amendments dated 03/11/05.

065

VOTE:  7-0-0

Chair Brown

Hearing no objection, declares the motion CARRIED.

066

Rep. Kitts

MOTION:  Moves HB 2091 to the floor with a DO PASS AS AMENDED recommendation.

069

VOTE:  7-0-0

AYE:            In a roll call vote, all members present vote Aye.

Chair Brown

The motion CARRIES.

REP. SCHAUFLER will lead discussion on the floor.

078

Chair Brown

Closes the work session on HB 2091 and opens the public hearing on HB 2033.

HB 2033 – PUBLIC HEARING

083

Janet Adkins

Committee Administrator.  Explains HB 2033 and the -1 amendments (EXHIBIT C).

114

Darren Bond

Director of Finance, Oregon State Treasury.  Submits and reads from written testimony in support of HB 2033 (EXHIBIT D).  States that they are comfortable with the -1 amendments. 

147

Chair Brown

Summarizes HB 2033.

157

Tim Martinez

Oregon Bankers Association.  Speaks in support of HB 2033. 

163

Ken Sherman

Oregon Bankers Association.  Submits and reads from written testimony in support of HB 2033 with the -1 amendment (EXHIBIT E).  Explains how HB 2033 helps clear up some problems that arose after SB 331 (2003) was passed.  States that no financial institutions have to pledge securities to cover deposits that are covered by deposit insurance.      

200

Sherman

States that HB 2033 as it stands now references the incorrect statutes and explains that the -1 amendments (EXHIBIT C) clears up this issue. 

230

Martinez

Indicates that the -1 amendments were worked out with the Oregon State Treasurer’s Office (EXHIBIT C). 

238

Rep. Schaufler

Speaks in support of HB 2033. 

242

Pam Leavitt

Credit Union Association of Oregon.  Submits written testimony in support of HB 2033 (EXHIBIT F).  Adds that the Credit Union Association of Oregon is supportive of the -1 amendents.

255

Chair Brown

Closes the public hearing on HB 2033 and opens the work session on HB 2033.

HB 2033 – WORK SESSION

268

Rep. Kitts

MOTION:  Moves to ADOPT HB 2033-1 amendments dated 03/11/05.

260

VOTE:  7-0-0

Chair Brown

Hearing no objection, declares the motion CARRIED.

261

Rep. Kitts

MOTION:  Moves HB 2033 to the floor with a DO PASS AS AMENDED recommendation.

263

VOTE:  7-0-0

AYE:            In a roll call vote, all members present vote Aye.

Chair Brown

The motion CARRIES.

275

Rep. Kitts

MOTION:  Moves HB 2033 be placed on the CONSENT CALENDAR.

278

VOTE:  7-0-0

Chair Brown

Hearing no objection, declares the motion CARRIED.

280

Chair Brown

Closes the work session on HB 2033.  Opens the public hearing on HB 2034.

HB 2034 – PUBLIC HEARING

283

Janet Adkins

Committee Administrator.  Explains HB 2034.  States that HB 2034 has already been through the House Revenue Committee.

300

Darren Bond

Director of Finance, Oregon State Treasury.  Submits and reads from written testimony in support of HB 2034 (EXHIBIT G). 

325

Chair Brown

Clarifies HB 2034. 

342

Tim Martinez

Oregon Bankers Association.  Speaks in support of HB 2034.  Talks about various banks that would like to take advantage of HB 2034. 

360

Chair Brown

Closes the public hearing on HB 2034 and opens the work session on HB 2034.

HB 2034 – WORK SESSION

380

Rep. Esquivel

MOTION:  Moves HB 2034 to the floor with a DO PASS recommendation.

386

Rep. Shields

States that he will vote for HB 2034 in committee but reserves the right to vote against HB 2034 on the floor.

390

VOTE:  7-0-0

AYE:            In a roll call vote, all members present vote Aye.

Chair Brown

The motion CARRIES.

REP. ESQUIVEL will lead discussion on the floor.

403

Chair Brown

Closes the work session on HB 2034 and opens the public hearing on HB 2632.

HB 2632 – PUBLIC HEARING

407

Janet Adkins

Committee Administrator.  Explains HB 2632. 

TAPE 55, A

002

Tim Martinez

Oregon Bankers Association.  Speaks in support of HB 2632.  Talks about how the interest rate affects the trusts and that HB 2632 does not affect the banks or the trust companies.

020

Ken Sherman

General Counsel, Oregon Bankers Association.  Speaks in support of HB 2632.  Talks about a sizable estate and how HB 2632 would affect the estate.  Says that the interest rate in the statute is artificially high.

032

Chair Brown

Asks if the five percent rate is what the trust earns or what is charged for the expenses.

035

Sherman

States that HB 2632 is only dealing with probate estates.  Says that the interest rate will be tied to the market interest rate and will be paid out of the residual estate. 

053

Chair Brown

Closes the public hearing on HB 2632 and opens the work session on HB 2632.

HB 2632 – WORK SESSION

055

Rep. Esquivel

MOTION:  Moves HB 2632 to the floor with a DO PASS recommendation.

058

VOTE:  7-0-0

AYE:            In a roll call vote, all members present vote Aye.

Chair Brown

The motion CARRIES.

064

Rep. Kitts

MOTION:  Moves HB 2632 be placed on the CONSENT CALENDAR.

066

VOTE:  7-0-0

Chair Brown

Hearing no objection, declares the motion CARRIED.

068

Chair Brown

Closes the work session on HB 2632 and opens the public hearing on HB 2633.

HB 2633 – PUBLIC HEARING

070

Janet Adkins

Committee Administrator.  Explains HB 2633.

085

Tim Martinez

Oregon Bankers Association.  Speaks in support of HB 2633.  Believes that it was an inadvertent change to the statutes that was made when the statutes were being made gender neutral. 

095

Ken Sherman

General Counsel, Oregon Bankers Association.  Submits written testimony in support of HB 2633 (EXHIBIT I).

102

Chair Brown

Closes the public hearing on HB 2633 and opens the work session on HB 2633.

HB 2633 – WORK SESSION

105

Rep. Esquivel

MOTION:  Moves HB 2633 to the floor with a DO PASS recommendation.

108

VOTE:  7-0-0

AYE:            In a roll call vote, all members present vote Aye.

Chair Brown

The motion CARRIES.

113

Rep. Esquivel

MOTION:  Moves HB 2633 be placed on the CONSENT CALENDAR.

114

VOTE:  7-0-0

Chair Brown

Hearing no objection, declares the motion CARRIED.

116

Chair Brown

Closes the work session on HB 2633.  Opens the public hearing on HB 2637.

HB 2637 – PUBLIC HEARING

119

Janet Adkins

Committee Administrator.  Explains HB 2637.

132

John McCulley

Oregon Association of Mortgage Professionals.  Submits written testimony in support of HB 2637 (EXHIBIT J).  Says that HB 2637 restores the original intent of the law regarding the definition of “person”.  Indicates that section two of HB 2637 prevents someone who does not complete the required 20 hours of continuing education from being convicted of a felony. 

168

McCulley

Explains how the third part of HB 2637 clarifies the way in which exams are given for the entry level testing process.  Wants the tests to be administered at a “secure location”.  Says that Department of Consumer and Business Services (DCBS) is concerned about who would administer the test.  States that they will be seeking amendments to address the concerns of DCBS.  Indicates that he knows of no opposition to HB 2637.

211

Rep. Kitts

Asks who can currently administer the test and if HB 2637 passes who could administer the test. 

217

McCulley

Says that anyone can currently administer the test.  States that usually it is administered by groups who are doing the training.  Notes that under HB 2637 those groups could still provide the training if they have expertise in doing professional testing or a third party could develop a test for loan originators and administer the test.

227

Rep. Kitts

Asks who would determine the expertise needed to administer the test.

230

McCulley

Says that the DCBS would determine the expertise needed to administer the test.

236

Rep. Kitts

Asks if there is currently a fee and if there will be a fee under HB 2637.

239

McCulley

Says that there is a fee for taking the class and the price of the test is included in the fee. 

246

Adkins

Asks if the test is given at entry or after each completion of the continuing education hour requirement.

249

McCulley

Responds that the test is given at the entry level. 

255

Chair Brown

Asks if the bond is there to correct consumers and not commercial interests than a commercial interest could be a consumer.

259

McCulley

States that the consumer is the person who has the direct relationship with the broker.

268

Chair Brown

Asks if HB 2637 would preclude the commercial entity from accessing the bond if there was a problem.

269

McCulley

Says that the commercial entity would be able to access the bond if the commercial entity signed the loan application.

274

Rep. Holvey

Asks if there is a need to have anything in the statute that authorizes the ability to have a fee for the test.

281

McCulley

Says that DCBS has the authority to operate the program and charge fees.

287

Joe Camerena

Oregon Association of Mortgage Professionals.  Speaks in support of HB 2637.  Says that the bond is directly for the purpose of protecting the consumer, and if a commercial interest signed the loan application, the commercial entity would be the consumer.

293

Rep. Schaufler

Asks if HB 2637 is raising the fee.

295

McCulley

Says that no fees are being raised with HB 2637.

297

Rep. Kitts

Asks if DCBS can raise the fee if they feel that HB 2637 creates additional administrative costs.

301

McCulley

Responds that DCBS can increase the cost.  Adds that in absence of HB 2637 DCBS can still raise the fee.

309

Chair Brown

Closes the public hearing on HB 2637 and opens the work session on HB 2461.

HB 2461 – WORK SESSION

325

Janet Adkins

Committee Administrator.  Explains HB 2461 and the -1 amendments (EXHIBIT K). 

357

Rep. Gilman

MOTION:  Moves to ADOPT HB 2461-1 amendments dated 03/14/05.

365

VOTE:  7-0-0

Chair Brown

Hearing no objection, declares the motion CARRIED.

381

Rep. Gilman

MOTION:  Moves HB 2461 with a DO PASS AS AMENDED recommendation and BE REFERRED to the committee on Ways and Means by prior reference.

385

VOTE:  6-1-0

AYE:               6 - Esquivel, Gilman, Holvey, Schaufler, Shields, Brown

NAY:               1 - Kitts

Chair Brown

The motion CARRIES.

400

Chair Brown

Closes the work session on HB 2461.  Adjourns the meeting at 9:30 a.m.