Meetings
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[Representative Michael Marcotte (Chair)]: Good afternoon, everyone. This is the Vermont House Committee on Commerce and Economic Development. Again, it's Tuesday, 01/13/2026 at 03:43 in the afternoon. So we're back, getting ready to vote. We have found a couple of areas where we can make up some slight changes for our legislative council. Maria Royal has done that and going to share that with us. And then we will hear get that with the Commission Brown and from Monique Davis. This will be the strike amendment?
[Maria Royal (Legislative Counsel)]: Yes. Maria Royal, legislative counsel. Chair just explained, this is a strike all amendment. There are two substantive changes. I didn't show the strikeout or highlighting just to get it as close to ready to go to the calendar as possible. So the first change is in the first section. And what it did is basically it struck out the reference to no loans or investments in the parent companies of a risk retention group. But the parent are the members. The members are the parents. So just to kind of remove that little bit of confusion about what the difference is, the proposal here is just to strike reference to the parent company and just say no loans or investments in its members or affiliates of its members. And then the last change is the one that was brought up about oaths and affirmations. So, that is on page five, line three. Filed a statement under oath or affirmation, so consistent with how we're currently drafting those statements. And other than that, it's identical to what we reviewed earlier.
[Representative Michael Marcotte (Chair)]: K. Questions for Maria? Thank you, Maria. Deputy commissioner?
[Christine Brown (Deputy Commissioner, VT DFR Captive Insurance)]: Thank you again, and Maria explained it very well. But it aligns with how we the terminology that we use within the division for risk retention groups. The owners are members and members are owners. That's part of the federal act. They could, you know, it's in statute that the owners of a risk retention group are its members. So to reference a parent company really doesn't do much for the law, and it might even confuse things a little bit because it's a group type captive that has multiple members. So I think that recommendation makes sense with how we regulate and the structure of our retention group. Supportive of I am supportive. Yes. Thank you.
[Representative Michael Marcotte (Chair)]: Any questions for deputy commissioner? Thank you. Thank you. Ian.
[Ian Davis (Vermont Captive Insurance Association)]: Ian Davis, president of the Vermont Capital Insurance Association. It's a good catch. And yes, as Christine said, it's the nomenclature that is used and I think eliminates any potential for confusion. So we're supportive.
[Representative Michael Marcotte (Chair)]: Any questions for? Many Great. Seeing the changes we've got to the bill. Are any further discussions? I entertain a motion to vote favorably on page six forty nine strike all amendment. So moved. Second. Moved by Bosch, seconded by representative Carris Duncan. Do need further discussion? If not, the clerk can call a roll. And can we take, Maria, can you take the screen down so we'll need to see representative Cooper?
[Representative Monique Priestley (Clerk)]: Okay. Call the roll. Representative Bosch? Yes. Representative Boutin?
[Representative Michael Boutin (Member)]: Yes. Representative Carris Duncan? Yes. Representative Cooper?
[Representative Jonathan Cooper (Member)]: Yes.
[Representative Monique Priestley (Clerk)]: Representative Duke? Yes. Representative Micklus? Yes. Representative Olson?
[Representative Herb Olson (Member)]: Yes. Representative Priestley? Yes. Representative White? Yes.
[Representative Kirk White (Ranking Member)]: Representative Granting? Yes. Representative Markup?
[Representative Michael Marcotte (Chair)]: Yes. Okay, 900. Excellent. Thank you all. Who's reporting? I'll do it. Kirk. Okay, Representative White will is our go to DFR guy. Okay. Thank you all. Thank you. Thank you, Ian. Appreciate everybody's work. Maria, thank you very much.
[Representative Monique Priestley (Clerk)]: Hey. What's the draft number? The final?
[Representative Michael Marcotte (Chair)]: So, committee, I think that's it for today. Got our first bill out this session. Good job. So tomorrow, we have a hearing with a joint hearing with corrections and institutions.
[Maria Royal (Legislative Counsel)]: Remember Room 11 is no food or coffee. So 9AM.
[Representative Michael Marcotte (Chair)]: And then 11:15, we take a break at 11:11 fifteen, we're back here to do a walk through of the amendments to H2 11. Then we're back here, one, to go through that. Here's from some witnesses. And then two, we'll have a DFR back in to look at the auto report that we've just received from them last week. And then we're on the floor. And then we started the other DFR bill shortly. I forget. Did we see that amendment two eleven, or is that
[Representative Monique Priestley (Clerk)]: No. I still come in. Yeah.
[Representative Michael Marcotte (Chair)]: Yeah. We'll get it posted as soon as Yeah. Yeah. It's I lose I lose track.
[Representative Monique Priestley (Clerk)]: Probably gonna be right. It's gonna be
[Representative Michael Marcotte (Chair)]: in the morning. We'll get to experience it all at the same time.
[Representative Monique Priestley (Clerk)]: Yeah. Oh, yeah. Including the sunrise. Okay.
[Representative Michael Marcotte (Chair)]: Any questions? Again, thank you, everyone. Everyone's work on this bill. Look forward to getting it to the