ASSEMBLY JUDICIARY COMMITTEE
FOR OUR FIRST MEETING OF TWENTY
TWENTY TODAY IS JANUARY
FOURTEENTH WE DO NOT YET HAVE.
A CORE WITH ENOUGH MEMBERS BUT
WE HAVE ENOUGH MEMBERS TO START
AS A SUB COMMITTEE SO WE WILL
DO SO I WILL NOTE THAT ITEM
NUMBER ONE AB THREE TWENTY
FIVE. BUT THIS AROMAS HAS BEEN
PROPOSED FOR THE CONSENT AGENDA
SO WE'LL TAKE THAT UP. WHEN WE
DO GET A QUORUM WE HAVE MR
DAILY HERE. IF YOU LIKE TO
PRESENT SO THIS IS OUR ITEM
NUMBER TWO EIGHTY SIX EIGHTY
SEVEN. THANK YOU MISTER CHAIR
AND COMMITTEE MEMBERS- THANK
YOU VERY MUCH FOR YOUR- WORKER
ON THIS ALONG WITH THE WORK OF
YOUR STAFF. THE BILL ALLOWS
REAL ESTATE BROKERS TO FORM
LIMITED LIABILITY COMPANIES AS
AN OPTION SIMPLY AS THEIR AT
THEIR OPTION. ADDING LLC USED
TO THE LIST OF ELIGIBLE REAL
ESTATE BROKER LICENSEES WILL
PUT REAL ESTATE BROKERS ON THE
SAME FOOTING AS OTHER
PROFESSIONALLY LICENSE GROUPS.
THIS BILL CAN HELP SAVE THEM
TIME AND REDUCE COSTS BECAUSE
OPERATING AS LLC'S CAN MEAN
MORE STREAMLINED REPORTING AND
FILING REQUIREMENTS STAND AS A
CORPORATION. THE COMMITTEE
AMENDMENTS BRING REALISTIC
COMPANIES IN LINE WITH OTHER
LLC'S REGARDING MANDATORY
INSURANCE COVERAGE. WITH ME IS
MATT HARGROVE FROM THE
CALIFORNIA BUSINESS PROPERTIES
ASSOCIATION WHO ARE THE
SPONSORS OF THE BILL. MATT
WOULD YOU LIKE TO CHIME IN
MICHIGAN MEMBERS FIRST WITNESS
PLEASE MATTHEW HARPER WITH THE
CALIFORNIA BUSINESS PROPERTIES
ASSOCIATION AS YOU CAN SEE FROM
THE- VERY THOROUGH COMMITTEE
ANALYSIS HAVE BEEN SEVERAL
ATTEMPTS ON THIS OVER THE
YEARS. OUR INDUSTRY MISSED THE
BOAT WHEN THAT THESE
CONVERSATIONS WERE HAPPENING IN
THE NINETIES AND THAT WE HOPE
THAT WE'LL BE ABLE TO CORRECT
THAT TODAY. CURRENTLY AS IF YOU
RUN A REAL ESTATE BROKERAGE YOU
CAN FILE AS AT C. CORP THIS
WILL ALLOW OUR COMPANIES TO
ALSO TAKE ADVANTAGES OF THE
LLC'S. THAT THIS BODY IN ITS
WISDOM AS PASSED SEVERAL YEARS
AGO WE WANT TO THANK THE
CONSUMER ATTORNEYS AND THE
CALIFORNIA ASSOCIATION OF
REALTORS AND JEFF. FOR HELPING
US AS THIS BILL HIT THIS
COMMITTEE LAST YEAR IT WAS NOT
IN SHAPE TO BE- TALK ABOUT
THERE WAS CONCERNS- FROM ALL
PARTIES AND OVER THE HOLIDAYS.
THAT JEFF- BROUGHT SOME
LANGUAGE TOGETHER THAT IS
RESOLVED SOME OF THE ISSUES
WERE HAPPY WITH ALL THE
LANGUAGE WE APPRECIATE THE WORK
THAT THIS COMMITTEE HAS PUT
INTO IT AND WE HOPE THAT YOU'LL
SUPPORT THIS BILL TODAY THANK
YOU. THANK YOU WOULD ANYONE
ELSE LIKE TO SPEAK IN SUPPORT.
RIGHT SEEING NONE IS THERE ANY
OPPOSITION. GOOD MORNING MISTER
CHAIR MEMBERS OF THE COMMITTEE-
MY NAME IS ANNA BUCK ON BEHALF
OF THE CALIFORNIA ASSOCIATION
OF REALTORS- WELL WE OPPOSE THE
BILL IN PRINT OVER THE
SPECIFICS OF THE INSURANCE
REQUIREMENTS WERE HAVING
PRODUCTIVE CONVERSATIONS WITH
THE AUTHOR IT'S OFFICE AND THE
SPONSOR AND SHOULD THIS BILL
MOVE FORWARD WE- HOPE TO
CONTINUE THAT WORK THANK YOU.
THANK YOU ANYONE ELSE. IN
OPPOSITION OR WORKING WITH THE
AUTHOR. ALRIGHT SING NONE BRING
BACK TO THE COMMITTEE QUESTION
COMMENT SWITCHED OVER TO THE
THANK YOU MISTER CHAIR SO ARE
WE HEARD THIS BILL AND BUSINESS
AND PROFESSIONS LAST YEAR AND I
VOTED FOR IT- YOU HAVE SINCE
THEN ADDED THE REQUIREMENT FOR
A SUBSTANTIAL AMOUNT OF
INSURANCE SO ARE COULD YOU TALK
ABOUT WHY THAT WAS ADDED AFTER
IT'D GONE THROUGH OTHER
COMMITTEES AND WHAT THE
RATIONALE BEHIND THAT IS
BECAUSE I KNOW THAT'S- THE ONE
PROVISION THAT'S GOT THE
STAKEHOLDERS VERY CONCERNED
ABOUT IT. THANK YOU SIR IT WAS
A SUGGESTION- I BELIEVE OF YOUR
COMMITTEE STAFF. AND I'M OKAY
WITH IT- IT HAS CREATED LITTLE
CONSTERNATION WITH THE
REALTORS. BUT I THINK WORK IN I
BELIEVE WE CAN WORK THROUGH
THESE ISSUES- I DON'T KNOW IF
MATT WANTS TO COMMENT ON THE-
ON THAT PROVISION. SURE THIS IS
THE PROVISION THAT HAS HELD UP
THIS BILL OVER THE YEARS- ON.
MY OWN MEMBERS IN THE PAST HAVE
HAD A LITTLE CONCERN WITH THIS
WE OF COURSE WOULD LOVE TO BE
ABLE TO FORM LLC'S WITH- OUT
THE STATE REQUIRING HAVE ANY
REPORTING OR ANY INSURANCE- BUT
WE THINK WHAT'S BEEN PUT IN THE
BILL IS REASONABLE. THEY WERE
BUILT ON- SOME REQUIREMENTS
THAT WERE IN A PART A BILL IN
THE MID TWO THOUSANDS. AB WE
WENT OUT AND CHECKED WITH OUR
MEMBERSHIP ON THIS- WITH SOME
COMPANIES YOU. CURRENTLY KERRY
INSURANCE AS BEING A C. CORP-
THE MINIMUMS THAT ARE CURRENTLY
IN THE BILL WE FEEL ARE A VERY
REACHABLE FOR MOST COMPANIES.
THAT WOULD LOOK INTO DOING THIS.
SO LET ME TOTAL DOWN ON
SOMETHING THAT YOU JUST SAID
SO- I UNDERSTAND THE ARGUMENT
THAT. ALLOWING INCORPORATION AS
AN LLC PROVIDES A LIABILITY
SHIELD AND MAYBE THAT'S A
REASON WHY INSURANCE WOULD BE
APPROPRIATE- BUT- THESE TYPES
OF BUSINESS CAN ALREADY
INCORPORATE AS A C.
CORPORATION- I WAS NOT AWARE
THAT THERE ARE INSURANCE
REQUIREMENTS FOR SEEK. FOR A IS
SIMILAR CONSTITUTED SEE
CORPORATIONS THAT- SO THAT
COMPANIES THAT WE TALKED TO
KERRY VOLUNTARY YOU KNOW
INSURANCE. AND OTHER CURRENTLY
SEE CORPSE WHO CARRY THAT
INSURANCE AND THE COMPANIES
THAT WE TALKED TO THAT AREN'T
LARGE COMPANIES THERE- THERE.
WAS AN ELEVEN PERSON BROKERAGE
FIRM. IS VOLUNTARILY CARRYING
RIGHT NOW IS THE C. CORP- AND
AMOUNT OF INSURANCE THAT
BASICALLY DOUBLES THE MINIMUMS-
OF WHAT WOULD BE REQUIRED UNDER
THIS BILL. OKAY SO THAT THIS IS
GETTING TO THE HEART OF MY
SKEPTICISM HERE SO WE ALREADY
ALLOW THESE TYPES OF
BUSINESSES. TO INCORPORATE AS A
C. CORPORATION AND WE DO NOT
REQUIRE THEM TO CARRY INSURANCE
DESPITE THE FACT THAT THERE'S A
LIABILITY SHIELD STOLE WHY
THEN. IF WE'RE ADDING L. L.
C.'S TO THE MIX OF ENTITIES
THAT CAN FORM THIS BUSINESS
WHAT WE REQUIRE INSURANCE OF
THEM. AGAIN IT'S IMPORTANT TO
POINT OUT THAT THIS IS AN EARLY
OPTIONAL AS WELL. SO IT MAY BE
BECAUSE OF THAT BURDEN THE
COMPANIES DON'T MAKE THAT
CHOICE. BUT THE ASSOCIATION HAS
ASKED TO CREATE THIS MECHANISM
STRICTLY AS AN OPTION. FOR
BROKERS AND WE- ON THAT PREMISE
OF BASED AND THE SMELL THE
STAFF WANTED TO. WANTED TO WERE
INCREASED INSURANCE
REQUIREMENT. BUT IT AGAIN IT'S
OPTIONAL SO BUT BUT SURE AS THE
AUTHOR I'M NOT GONNA. DETER TOO
MUCH I GUESS WE'LL SEE I MEAN
IF THE BILL BECOMES LAW WE'LL
SEE IF COMPANIES MAKE THIS
CHOICE I DON'T MEAN TO. TO
DISMISS YOUR CONCERN- AND I'M
NOT DISMISSING IT. BUT IT M. IT
IS WHAT IT IS IN THAT SENSE IF
YOU KNOW WE WILL LEARN IF
COMPANIES ONE COMPANY
SCRUTINIZE THIS OPTION IT MAKES
SENSE FOR THEM OR NOT BUT
THERE'S NOTHING MANDATORY ABOUT
CHOOSING THAT OPTION SURE I
COMPLETELY UNDERSTAND THAT'S
WHY I SUPPORTED THE BILL AND BE
IN P. LAST YEAR BECAUSE I THINK
THE COMPANIES OUGHT TO HAVE
THIS OPTION BUT I AM ONE HAPPY
ABOUT THE FACT THAT THIS
INSURANCE REQUIREMENT HAS BEEN
ADDED TO THE LAST MINUTE AND IT
MAKES NO SENSE TO ME GIVEN
THAT. OTHER TYPES OF LIABILITY
SHIELDING ENTITIES ARE ALLOWED
TO PRACTICE THIS BUSINESS
WITHOUT INSURANCE BUT- SO I
WANNA MAKE MAXIMUM UTILITY OF
THIS NEW TOOL THAT WE'RE GIVING
THEM SO- I WOULD BE SUPPORTING
THE BILL TODAY BECAUSE I THINK
I AGREE WITH YOU I THINK THEY
OUGHT TO HAVE THIS TOOL BUT I'D
LIKE TO ENCOURAGE YOU TO
CONTINUE WORKING WITH THE
STAKEHOLDERS BECAUSE I REALLY
HOPE WE CAN GET OUR ARMS AROUND
THIS INSURANCE ISSUES THE BILL
FORWARD THANK YOU AND AS WAS
PREVIOUSLY SAID THE REAL. HAVE
A PROBLEM WITH THAT AS WELL AND
SO IT'S- WE IN CONVERSATION ON
THAT POINT THANK YOU WILL BE.
QUESTIONS FROM COMMITTEE
MEMBERS. I THANK YOU THE END
FOR TAKING A MOMENT I THINK
THAT THE INSURANCE REQUIREMENTS
ARE SOMETHING THAT ARE
IMPORTANT HERE. C. CORPUS
ESCORTS LIMITED LIABILITY
CORPORATIONS ALL THAT ALL HAVE
DIFFERENT. WAYS OF PROTECTING
AGAINST LIABILITY AND HAVE
DIFFERENT STANDARDS AND WAYS
THAT. THEY THEY THEY CAN BE A
SALE IF YOU WILL AND WHAT WE
WANT TO MAKE SURE IS THAT WE
ARE NOT CREATING CORPORATION OR
ALLOWING FOR INCORPORATION
WHERE THERE IS NO. FUNCTIONAL
WAY TO GO AFTER THE BAD ACTORS
WHO HAVE CREATED THAT
CORPORATION HAVE NOT
CAPITALIZED IT AND HAVE NOT
ALLOWED FOR. THE ANY OTHER WAY
FOR SOMEONE WHO HAS BEEN
MISTREATED BY THAT CORPORATION
BECAUSE CORPORATIONS ARE A
LIMITS THE LIABILITY UNDER C.
CORE DIRECTORS AND OFFICERS
TYPICALLY DO GET INSURED.
BECAUSE THEY CAN BE LIABLE FOR
THEIR ACTIONS UNDER UNDER. WITH
L. L. C. THERE'S SOME DIFFERENT
STANDARDS AND I WILL ALSO NOTE
HERE. THAT THERE ALSO ARE SOME
TAX CONSIDERATIONS BECAUSE
UNDER AN LLC THERE ARE TAX PASS
THROUGHS. AS OPPOSED TO IT SEE
CORPSE AND THAT'S SOMETHING
THAT'S BEYOND THE PURVIEW OF
THIS COMMITTEE TO LOOK AT TO
THAT'S NOT AN ISSUE THAT WE
WANTED TO RACE BUT THAT MIGHT
BE AN ISSUE FOR APPROPRIATIONS
OR OTHER COMMITTEES TO BE ABLE
TO TAKE A LOOK AT. GOT IT THANK
YOU. ALL RIGHT SO WITH THAT
MISTER DALY MAY CLOSE I
RESPECTFULLY REQUESTAN AYE
VOTE AND WILL CONTINUE WORKING
ON THAT ISSUE AND ANYTHING ELSE
THAT POPS UP. THANK YOU. SO. DO
YOU HAVE A QUORUM LET'S
ESTABLISH THE QUORUM. CALL THE
ROLL PLEASE. STONE HERE
GALLAGHER CHAO CHIU GONZALEZ.
HOLDEN. KALRA KILEY MAIENSCHEIN
OBERNOLTE REYES. OKAY I WILL
TAKE A MOTION THAT MOTION IS
DUE PASSED TO APPROPRIATIONS
FOR ITEM NUMBER TWO EIGHTY SIX
EIGHTY SEVEN. THANK YOU WE DO
HAVE MOTION AS THEIR SECOND.
AND THE SECOND. THANK YOU KALRA
PLEASE. STONE BY STONE AYE
GALLAGHER CHOW CHOW I TO.
GONZALEZ CONSOLES I HOLDEN. HI
KALRA KILEY. MAIENSCHEIN
MAIENSCHEIN I OBERNOLTE
OBERNOLTE I REYES REYES I.
THANK YOU THE BILL IS OUT THANK
YOU MISTER CHAIR AND COMMITTEE
MEMBERS PRITCHETT MR DAILY.
MYSTERY OF US. WE WILL DO ITEM
NUMBER THREE A. B. SIXTEEN
TWENTY SEVEN. CHAIRMAN STONE.
WELCOME WONDERFUL COLLEAGUES
GREAT TO SEE EVERYBODY THIS
MORNING I'M JOINED HERE BY.
MEMBERS OF THE ATTORNEY
GENERAL'S OFFICE- RAIN NEW
COULD GEORGE AND KAREN LEAF YES
SO BUT I PROUD HERE TO BE THIS
I AM PROUD TO BE HERE THIS
MORNING TO PRESENT ASSEMBLY
BILL SIXTEEN TWENTY SEVEN AND
SO THIS IS A BILL THAT WOULD
STRENGTHENING CLARIFY EXISTING-
THE TOBACCO- THE DIRECTORY
STATUTE TO ME CALIFORNIA'S
OBLIGATIONS UNDER THE MASTER
SETTLEMENT AGREEMENT OTHERWISE
KNOWN AS THE MSA. UNDER THE
MSA- THAT PROVIDE FOR
SUBSTANTIAL ANNUAL PAYMENTS TO
OUR STATE IN THESE PAYMENTS ARE
PROVIDED IN PERPETUITY AND HAVE
EXCEEDED SEVEN HUNDRED MILLION
IN RECENT YEARS THESE ANNUAL
PAYMENTS- ARE CONDITIONED ON
CALIFORNIA'S ENFORCEMENT AND
THE DILIGENT ENFORCEMENT AT
THAT OF AN ESCROW STATUTE- AND-
IMPOSES- A SIMILAR A FINANCIAL
OBLIGATION UNDER- ARE ON. THE
TOBACCO COMPANIES THAT ARE NOT
A PARTY TO THE MSA SO HERE IN
CALIFORNIA IF WE FAIL TO
ENFORCE THIS ASCO STATUTE IN A
GIVEN YEAR IT RISKS THE LOSS OF
SOME AND POTENTIALLY ALL OF ITS
ANGLE- ALLOTMENT YOU KNOW THESE
OF THE PAYMENTS AND SO THIS
BILL WOULD CERTAINLY CLARIFY
EXISTING LAW EIGHT THE ATTORNEY
GENERAL'S. FORCE MEANT OF OUR
STATE MSA. END THE NSA'S
OBLIGATIONS BY MAKING SURE THAT
WE TARGET NON COMPLIANT AT
ACTORS AND SHARING THAT DATA
WITH. AGENCIES APARTMENT
PURPOSES. SO AGAIN- THIS BILL
ASSEMBLY BILL SIXTEEN TWENTY
SEVEN AND POWERS THE TERRY
GENERAL TO ENSURE THAT OUR
STATE THAT WE CONTINUE TO
RECEIVE OVER SEVEN HUNDRED
MILLION. PER YEAR UNDER THE
THIS- MASTER- THE SETTLEMENT
AGREEMENT AND SO AGAIN WITH US
I HAVE REPRESENTATIVES FROM THE
TREE JONES OFFICE THAT-
CERTAINLY CAN ANSWER ANY OF THE
TECHNICAL QUESTIONS. THANK YOU
FIRST WITNESS PLEASE. GOOD
AFTERNOON MISTER CHAIRMAN AND
COMMITTEE MEMBERS MY NAME IS
RUNNING COULD GEORGE AND I AM A
DEPUTY ATTORNEY GENERAL WITH
THE OFFICE OF THE ATTORNEY
GENERAL. ON BEHALF OF A JEEP IS
SERAH I WOULD LIKE TO THINK
ASSEMBLY MEMBER RIVAS FOR HIS
LEADERSHIP ON THIS IMPORTANT
ISSUE AND FOR OFFERING THIS
BILL. EIJI BUT SERRA HAS
SPONSORED THIS BILL BECAUSE IT
STRENGTHENS AND CLARIFIES THE
EXISTING TOBACCO AS DIRECTORY
STATUTE IN ORDER TO MAKE
CALIFORNIA'S OBLIGATIONS UNDER
THE MASTER SETTLEMENT AGREEMENT
WHICH I ASSEMBLY MEMBER. RIVAS
HAS SAID IS HAVE EXCEEDED- OVER
SEVEN HUNDRED AND I THINK EIGHT
HUNDRED MILLION DOLLARS
ACTUALLY NOW IN RECENT YEARS-
GOING TO THE BILL ITSELF THE
EIGHT AB SIXTEEN TWENTY SEVEN
MAKES CHANGES TO THE TOBACCO
DIRECTORY STATUTE TO TARGET
BACK TO BAD ACTORS WERE NOT
COMPLYING WITH CALIFORNIA'S
REQUIREMENTS UNDER THE MSA.
ADDING ADMINISTRATIVE PENALTIES
FOR REPORTING VIOLATIONS.
GENTLE BACK GO DRIP. BANDING
CIRCUMSTANCES UNDER WHICH-
NONPARTISAN COMPETING
MANUFACTURERS THESE PARTIES
THAT ARE NOT A PARTY TO THE MSA
ARE CONSIDERED ELEVATED RISKS.
AND REQUIRED TO POSTED SHORTY
BOND AND INCREASED COORDINATION
WITH OTHER GOVERNMENT AGENCIES
FOR DILIP DILIGENT ENFORCEMENT
AS PART OF THE MSA DISPUTE
RESOLUTION PROCESS. AGAIN AS
THE ASSEMBLY MEMBER NOTICED
THIS BILL IS NECESSARY FOR
CALIFORNIA TO CONTINUE ITS
OBLIGATION SO THAT WAY WE DON'T
PUT AT RISK SUMMER POTENTIALLY
ALL. OF THE OVER EIGHT HUNDRED
MILLION DOLLARS. THAT WE GET
UNDER THE MSA I'M SO THIS IS A
GOOD GOVERNMENT'S MEASURE THANK
YOU FOR YOUR TIME AND
CONSIDERATION MEMBERS MISTER
CHAIRMAN. THE ATTORNEY GENERAL
RESPECTFULLY ASKS FOR YOUR AYE
VOTE AND I'M JOINED TODAY BY MY
COLLEAGUE KARIN LEAF SENIOR
ASSISTANT ATTORNEY GENERAL. OF
THE TOBACCO SECTION WHO WILL
HELP ANSWER ANY OF YOUR
QUESTIONS THANK YOU VERY MUCH.
THANK YOU WOULD ANYONE ELSE
LIKE TO SPEAK IN SUPPORT OF
THIS MEASURE. RIGHT SIGNAL IS
THERE ANY OPPOSITION. RIGHT
SIGNAL BRING IT BACK TO THE
COMMITTEE QUESTIONS COMMA. ALL
RIGHT SIGNAL THE THREE OF US I
WILL NOTE THAT THERE IS A-
TECHNICAL AMENDMENT ALSO. WILL
BE TAKING IN APPROPRIATIONS AND
THAT HAS TO DO WITH THE
IMPLEMENT YESTERDAY. I AM NOT
TO MENTION THAT'S FINE PART OF
A COMES BUT YES I DO IT DIDN'T
CERTAINLY I THINK- THE
COMMITTEE STAFF FOR. THROW
ANALYSIS. THANK YOU. ALL RIGHT
THE I'LL TAKE A MOTION TO
MOTIONS TO PASS TO
APPROPRIATIONS. THERE'S A
MOTION AND A SECOND THANK YOU
CALL THE ROLL PLEASE. STONE BY
STONE I'D GALLAGHER JOHN. TO
GONZALEZ. GONZALEZ I KALRA OUR
AYE KILEY AYE KILEY AYE
MAIENSCHEIN MENTION AYE
OBERNOLTE. OBERNOLTE NO REYES
REYES I. SIX YEAH. HOLDEN FIVE
HOLD MY. THANK YOU THE BILL IS
OUT THANK YOU VERY MUCH. EIGHT
WE HAVE A COUPLE MORE AUTHORS
WHO HAVE YET TO ARRIVE WE ALSO
HAVE ITEM NUMBER ONE EIGHTY
THREE TWENTY FIVE BY THIS
ROBUST THAT IS ON THE CONSENT
AGENDA UNLESS SOMEONE LIKE IT
REMOVED I'LL TAKE A MOTION ON
THE CONSENT AGENDA. THANK YOU
WE DO HAVE A MOTION AND A
SECOND. CALL THE ROLL ON
CONSENT PLEASE. THE MOTION IS
TO PASS TO THE PRIVACY AND
CONSUMER PROTECTION COMMITTEE
STONE BY STONE I GALLAGHER CHAO.
CHIU GONZALEZ. IN THOSE AYE
HOLDEN HOLDEN AYE KALRA ALL
RIGHT I KILEY KILEY AYE
MAIENSCHEIN. MAIENSCHEIN I
OBERNOLTE OBERNOLTE I REYES
REYES I. THANK YOU SO AB THREE
TWENTY FIVE ON THE CONSENT
AGENDA IS OUT WE HAVE TWO MORE
AUTHORS MS WICKS AND MS THE MON
.
HAVE WE HEARD FROM. ALL OTHER
OTHER OKAY
. THIS MONTH. WE WILL
NOW TAKE UP OUR ITEM NUMBER
FIVE HR SIXTY NINE WELCOME
THANK YOU THANK YOU AT CHAIR
AND MEMBERS. AT THE SUPREME
COURT PASSED ALONG RIGHT
LANDMARK DECISION FORTY SEVEN
YEARS AGO AFFIRMING EVERY WOMAN
HAS A FUNDAMENTAL RIGHT TO
CONTROL HER OWN REPRODUCTIVE
DECISIONS AND WHETHER TO
CONTINUE A PREGNANCY OR OBTAIN
AN ABORTION. ROE V. WADE WAS A
VICTORY FOR WOMEN TO OWN THEIR
OWN BODIES AND LAID THE
GROUNDWORK FOR FURTHER
REPRODUCTIVE AND SEXUAL HEALTH
CARE POLICY THROUGHOUT THE
COUNTRY HOUSE RESOLUTION SIXTY
NINE CONTINUES THE ASSEMBLY
SUPPORT AND COMMITMENT TO
PROTECT A PERSON'S FUNDAMENTAL
RIGHT TO DECIDE IF AND WHEN
THEY BECOME APPARENT. THE
PROTECTIONS GRANTED BY ROE V.
WADE ARE AT THE HIGHEST RISK OF
BEING OVERTURNED. I LIKE MANY
OF YOU STAND IN STRONG SUPPORT
OF WOMEN'S FUNDAMENTAL RIGHT AS
CONFIRMED IN ROE V. WADE TO
MAKE HER OWN DECISIONS
REGARDING HER PREGNANCY AND
URGE YOU TO VOTE HI ON HR SIXTY
NINE WITH ME TODAY I HAVE MOLLY
ROBSON- WITH PLANNED PARENTHOOD
AND- SHANNON HOVIS WITH NARAL
PRO CHOICE AMERICA. TO ANSWER
ANY QUESTIONS THE COMMITTEE MAY
HAVE. THANK YOU FIRST WITNESS
PLEASE. GOOD MORNING SHARON
MEMBERS MY NAME IS SHANNON HOW
VESTS AND I'M THE DIRECTOR FOR
NARAL PRO CHOICE CALIFORNIA.
NARAL IS THE OLDEST AND LARGEST
ABORTION RIGHTS ADVOCACY
ORGANIZATION IN THE COUNTRY.
WITH TWO POINT FIVE MILLION
MEMBERS NATIONALLY AND TWO
HUNDRED FORTY FIVE THOUSAND
MEMBERS HERE IN CALIFORNIA.
FORTY SEVEN YEARS AGO ROBBIE
WADE GAVE WOMEN THE ABILITY TO
CONTROL THEIR OWN REPRODUCTIVE
DESTINIES. A RIGHT THAT IS
ESSENTIAL TO WOMEN BEING EQUAL
MEMBERS OF OUR SOCIETY. THE
ANNIVERSARY OF ROE SHOULD BE A
CELEBRATION. FOR THE PROGRESS
OF OUR COUNTRY AND YET THE
FORTY SEVENTH ANNIVERSARY
SOMBER THIS LANDMARK SUPREME
COURT DECISION IS ON THE LINE
LIKE NEVER BEFORE. IN MARCH THE
COURT WILL WHO WILL HEAR
ARGUMENTS IN JUNE MEDICAL
SERVICES VICKY. THE FIRST MAJOR
CHALLENGE TO ABORTION ACCESS
AND SPREAD CABINETS
CONFIRMATION. THE CASE WHICH
CONCERNS A LAW IDENTICAL TO A
TEXAS LAW THAT THE SUPREME
COURT STRUCK DOWN JUST FOUR
YEARS AGO IT'S FURTHER PROOF
THAT DONALD TRUMP IS PAID BACK
HIS DEBTS TO THE ANTI CHOICE
EXTREMISTS THE PUT HIM IN
OFFICE. SINCE KAVANAUGH'S
CONFIRMATION AN EMBOLDENED ANTI
CHOICE MOVEMENT HAS UNLEASHED
UNPRECEDENTED AN UNPRECEDENTED
WAVE OF ABORTION BANS WITH THE
SPECIFIC INTENT OF GETTING A
CASE TO THE SUPREME COURT TO
AND FRO. EARLIER THIS MONTH TWO
HUNDRED AND SEVEN ANTI CHOICE
LAWMAKERS IN CONGRESS SIGNED
ONTO AN AMICUS BRIEF URGING THE
COURT TO RECONSIDER ROUTE. IT
IS NO SURPRISE THAT JUST
FIFTEEN OF THE THOSE CONGRESS
MEMBERS ARE WOMEN. WE MAY NOT
KNOW THE FUTURE. WHAT THE
FUTURE HOLDS FOR ROW. BUT WE DO
KNOW THAT SUPPORT FOR THE RIGHT
TO ACCESSIBLE XIN IS MORE
POPULAR THAN EVER. PUBLIC
SUPPORT FOR ROE V. WADE IS AT
AN ALL TIME HIGH. 77% OF
AMERICANS SUPPORT THE SUPREMES
SUPREME COURT DECISION. THAT'S
NOT JUST MAJORITY IT'S A
CONSENSUS. ROW IS A LANDMARK
DECISION ONE OF THE MOST VALUED
IN OUR NATION'S HISTORY. ROW IS
A FUNDAMENTAL PART OF WHO WE
ARE AS A COUNTRY. UNDERSCORING
THE BASIC PRINCIPLE THAT WOMEN
CANNOT BE EQUAL PARTNERS IN OUR
SOCIETY WITHOUT THE ABILITY TO
MAKE PERSONAL DECISIONS ABOUT
THEIR OWN BODIES AND FUTURES.
ON BEHALF OF NAY ROW I THANK
ASSEMBLY WOMANLY MON. FOR
BRINGING FORTH THIS RESOLUTION
AND I'M GRATEFUL TO THE
LEGISLATURE FOR FIGHTING TO
PROTECT AND ITS ETHNIC AND
EXPAND REP REPRODUCTIVE FREEDOM
FOR ALL. I RESPECTFULLY URGE
YOUR SUPPORT THIS RESOLUTION.
THANK YOU THAT'S WITH US
PLEASE. GOOD MORNING FAIR
MEMBERS I MAILLET RICKSON
LEGISLATIVE ADVOCATE FOR
PLANNED PARENTHOOD AFFILIATES
OF CALIFORNIA OF REPRESENTING
SEVEN AFFILIATES. WHO PROVIDE
HEALTHCARE OVER SEVEN HUNDRED
THOUSAND PATIENTS THEIR HUNDRED
EIGHT HEALTH CENTERS IN THE
STATE. I WANNA HANG ASSEMBLY
MEMBER LOW MOAN FOR HER
LEADERSHIP OFFERING THIS
RESOLUTION TO CELEBRATE THE
FORTY SEVEN THE ANNIVERSARY OF
THE HISTORIC ROE V. WADE
DECISION WHICH PROTECTS THE
RIGHT NOW ACCESS TO SAFE LEGAL
ABORTION. WHILE WE CELEBRATE
THE TH ANNIVERSARY WE MUST ALSO
ACKNOWLEDGE THAT THE RIGHT TO
SAFE LEGAL ABORTION IS UNDER
ASSAULT AS SHANNON MENTIONED.
OVER THREE HUNDRED ABORTION
RESTRICTIONS WERE. INTRODUCED
BY EXTREMIST POLITICIANS. IN
TWENTY NINETEEN ALL AIMED AT
ELIMINATING ACCESS AND
STRIPPING AWAY FREEDOM FROM
PREGNANT PEOPLE. AND AS CNN
MENTIONED THE SUPREME COURT
WILL HEAR CASE THAT COULD UNDO
THE PRODUCTIONS GRANTED BY ROE
V. WADE. THIS YEAR. WE ARE
FORTUNATE IN CALIFORNIA TO HAVE
LEADERS WHO STAND WITH PLANNED
PARENTHOOD AND UNDERSTAND THAT
ABORTION CARE IS HEALTHCARE.
AND HEALTH CARE IS A HUMAN
RIGHT. AND WE THINK THE
CALIFORNIA LEGISLATURE FOR
CONTINUING TO EXPAND NOT BAD
ACCESS TO REPRODUCTIVE HEALTH
AND SAFE LEGAL ABORTION. WE ARE
ALSO THANK YOU ALL FOR BRINGING
AWARENESS THROUGH THIS
RESOLUTION AND FOR THESE
REASONS ARE PROUD TO SUPPORT.
HR SIXTY NINE AND ASK FOR YOUR
SUPPORT. THANK YOU WOULD ANYONE
ELSE LIKE TO REGISTER SUPPORT.
TO BECOME A TO THE MICROPHONE.
ALL RIGHT SEEING NONE IS THERE
OPPOSITION
. PLEASE CHAIR
REMEMBERS MY NAME IS GREG BIRCH
WITH THE CALIFORNIA FAMILY
COUNCIL. I'M SURE YOU REALIZE
WITH THE RECENT CHANGES IN THE
SUPREME COURT THAT ROE VERSUS
WADE DECISION IS ON LIFE
SUPPORT. BUT I ALSO BELIEVE
PUBLIC SUPPORT FOR ABORTION IS
IN A PREPARE PRECARIOUS
SITUATION BECAUSE THE MORAL
REASONING USED TO JUSTIFY IT IS
BEING EXPOSED. ABORTION IS ONLY
SURVIVED THIS LONG BECAUSE
PROPONENTS WERE ABLE TO DECEIVE
PEOPLE ABOUT THE BRUTAL REALITY
OF THE PRACTICE JUST LISTEN TO
THE WAY ABORTION RIGHTS
ADVOCATES TALK ABOUT THE
PROCEDURE. DO YOU HEAR THE
LANGUAGE OF NASTY EXCUSE TO
DISTRACT PEOPLE AWAY FROM
THINKING ABOUT WHAT HAPPENS
DURING AN ABORTION WHY DID THEY
DO THAT WHY CAN'T THEY TALK
ABOUT ABORTION IN PLAIN
EXACTING LANGUAGE. I THINK YOU
KNOW THE ANSWER. YET
DISTRACTING PEOPLE FROM OR AT
THE REALITY OF ABORTION HAS
BECOME NEARLY IMPOSSIBLE WITH
ADVANCES IN ULTRASOUND
TECHNOLOGY. I HAVE THREE KIDS
AND I REMEMBER BEING INTRODUCED
TO MY CHILDREN THROUGH AN
ULTRASOUND MACHINE. I SAW MY
DAUGHTER'S HEART BEATING AND MY
SON'S ARMS AND LEGS IN MOTION
JUST A FEW MONTHS AFTER
CONCEPTION. AND IT WAS AN
INCREDIBLE UNBELIEVABLE
EXPERIENCE FOR A NEW FATHER. SO
WHEN I THINK ABOUT WHAT
ABORTION REALLY IS I RECALL
THOSE FLICKERING ULTRASOUND
PICTURES AND I THINK OF UNBORN
CHILDREN JUST LIKE MY OWN.
GETTING THEIR LITTLE LIMBS TORN
OFF BY AN ABORTIONIST. THE
HORROR. OF IT CAN HARDLY BE
EXPRESSED AND I THINK HOW CAN
INTELLIGENCE IN OTHERWISE VERY
NICE AND GOOD HEARTED PEOPLE
JUSTIFY THIS. MY TRUTH
REVEALING EXPERIENCE WITH THE
ULTRASOUND MACHINE IS REPEATED
THOUSANDS OF TIMES A DAY. AND
THIS TRUTH TELLING TECHNOLOGY
IS CHANGING HEARTS MINDS AND
CONVINCING MANY HARDENED PRO
ABORTION RIGHTS ADVOCATES THAT
NOTHING JUSTIFIES THE BARBARIC
PRACTICE. I'M HERE TODAY TO
REMIND YOU OF THE CRUEL REALITY
YORK CELEBRATING IN HOPES THAT
ONE DAY. THE GOD WILL OPEN YOUR
EYES IN TURN YOU INTO A PRO
LIFE ADVOCATE AS HE HAS DONE
WITH MILLIONS OF OTHERS THANK
YOU. THANK YOU NEXT WITH US
PLEASE GOOD MORNING CHAIRMAN
AND MEMBERS MY NAME IS ONE THAT
SELLS AND I SERVICE THE
DIRECTOR OF CALIFORNIANS FOR
LIFE RECENTLY OUR GOVERNOR
ANNOUNCED THAT CALIFORNIA WILL
BECOME A NO KILL. NO KILL STATE
WHEN IT COMES TO SO CALLED
UNWANTED DOGS AND CATS OUR
BELOVED PETS. GET HERE THIS
RESOLUTION SIX TO CELEBRATE THE
KILLING OF OVER SIXTY MILLION
HUMAN BEINGS AND HURTING
MILLIONS OF WOMEN FOR A
LIFETIME. BUT THE IRONY SINK IN
FOR A MOMENT. BEFORE YOU VOTE
ON THIS RESOLUTION KEEP IN MIND
THAT THE JANE ROE OF THE ROE V.
WADE DECISION WAS A REAL WOMAN.
HER NAME WAS NORMA MCCORVEY.
SHE WENT ON TO WRITE A BOOK TO
DESCRIBE HOW THE ABORTION
INDUSTRY HOUSTON MISTREATED
HER. SHE LATER WENT ON IN HER
LIFE TO HAVE A COMPLETE
CONVERSION TO BECOME A PRO LIFE
LEADER. IF SHE WERE ALIVE TODAY
SHOULD BE COMPLETELY APPALLED.
AT THIS RESOLUTION AND I QUOTE
HER AS SAYING. KEEP IN MIND
SHE'S THE CENTER OF THE ROE V.
WADE THIS DECISION NORMA
MCCORVEY SAID QUOTE YOU ARE
TOTALLY DIFFERENT AFTER YOU'VE
HAD AN ABORTION ABORTION KINDA
SUCKS YOUR SOUL DRY IT MAKE
SURE VERY ANGRY PERSON INSIDE
FROM WHAT I HAVE SEEN. AND SHE
SAW A LOT OF ABORTIONS SHE WAS
AN ABORTION CLINIC MANAGER
SIMILARLY DOCTOR BERNARD
NATHANSON BUT FOUNDER OF NAY
WRONG HOW TO COMPLETE
CONVERSION IT WAS A FORMER
ABORTIONIST BUT DEEPLY
REGRETTED HIS INVOLVEMENT IN
THE ABORTION INDUSTRY. KILLING
THE MOST VULNERABLE AMONG US
THE WEEK THE VOICE WAS THE AND
QUOTE IN PERFECT THE QUOTE AND
WANTED. IS A LEAGUE FOR HUMAN
RIGHTS VIOLATION THAT AFFECTS
ALL OF THIS. AB GIRLS ARE BEING
KILLED JUST BECAUSE THEY'RE
GIRLS IS THAT SOMETHING TO
CELEBRATE TODAY. 90% OF BABIES
IDENTIFIED WITH DOWN SYNDROME
ARE KILLED HERE IN OUR COUNTRY
AND IN SOME COUNTRIES EVEN
ELIMINATED ENTIRELY ERADICATED
ON THE VERGE OF EXTINCTION.
BECAUSE OF ABORTION IS THAT
SOMETHING TO CELEBRATE. POOR
BABY SOME PAPERS OF COLOR ARE
BEING KILLED BY ABORTION IN
DISPROPORTIONATE RATES WE DON'T
SOLVE POVERTY MY FRIENDS BY
KILLING POOR CHILDREN. WHERE IS
THE VOICE FOR THE VOICELESS THE
OPPRESSED AND MARGINALIZED WE
HAVE A DREAM ON THE OTHER HAND
WHAT WOMEN CAN SUCCEED WITHOUT
HAVING TO KILL OUR CHILDREN WE
HAVE A DREAM WHERE WE CAN ALL
WORK TOGETHER EVERYONE IN THIS
BUILDING TO HELP MAKE SURE THAT
WOMEN HAVE THE RESOURCES AND
SUPPORT THEY NEED WHEN FACING
THE CHALLENGES ARE UNEXPECTED
PREGNANCY. SO ABORTION SOMEDAY
WILL BECOME UNTHINKABLE. WE
INVITE YOU TO SHARE IN THAT
DREAM AS INCREASING NUMBERS OF
CALIFORNIANS REJECT ABORTION.
RECENTLY THE SOCK WILL BE
REPORTED THAT ABORTION RATES
HERE IN CALIFORNIA. HOW
FOLLOWED BY MORE THAN 60% SINCE
THE EARLY NINETEEN NINETIES.
ABORTION IS GOING BY THE
WAYSIDE MY FRIENDS. AND MAKE
CALIFORNIA SOME DAY SOON BECOME
A NO KILL STATE. ABORTION IS
NOT SOMETHING TO CELEBRATE WE
URGE YOU TO VOTE NO ON THIS
RESOLUTION THANK YOU. THANK YOU
AND WHAT ELSE LIKE TO REGISTER
OPPOSITION. TO THIS MEASURE ALL
RIGHT SIGNAL BRING IT BACK TO
THE COMMITTEE QUESTIONS
COMMENTS. ALRIGHT SYNONYMOUS
THE MONUMENT CLOSE I
RESPECTFULLY ASK FOR AN AYE
VOTE THANK YOU SO THIS IS H. R.
SIXTY NINE THE MOTION THAT I'M
LOOKING FOR IS THAT THE
RESOLUTION BE ADOPTED. WAIT AS
BUT IS THERE SECONDS. AND
SECOND AND THANK YOU KALRA
PLEASE. STONE BY STONE HI
GALLAGHER GALLAGHER NOW SHALL.
CHIU GONZALEZ GONZALEZ I HOLDEN
HOLDEN AYE KALRA. KALRA AYE
KILEY KILEY NOW MAIENSCHEIN
MAIENSCHEIN AYE OBERNOLTE
OBERNOLTE NOW REYES REYES AYE.
THANK YOU THAT RESOLUTION WAS
ADOPTED BY THIS COMMITTEE.
ALRIGHT MS WICKS OUR ITEM
NUMBER FOUR AB SEVENTEEN
TWELFTH
. HI EVERYONE MORNING
FOG OF THE MORNING MISTER CHAIR%
AND MEMBERS. AB SEVENTEEN
TWELVE IS A MODEST TRANSPARENCY
BILL THAT WILL SHED LIGHT ON
DONOR ADVISED FUNDS OR DAFT AS
THEY'RE CALLED A GROWING
SEGMENT IN CHARITABLE GIVING
DEATHS ALLOWED HONOR TO
ESTABLISH AN ACCOUNT TO WHICH
HE OR SHE CAN MAKE A TAX
DEDUCTIBLE. CONTRIBUTION TO A
CHARITABLE SPONSOR. THE DONOR.
AND GRANTS FROM HIS OR HER FUND
TO OTHER CHARITABLE
ORGANIZATIONS THAT PROVIDE
DIRECT PUBLIC BENEFIT THROUGH
COMMUNITY SERVICES PROGRAMS ARE
ADVOCACY. THE BEST SOUND AFTER
THOSE AFFILIATED WITH
COMMERCIAL INVESTMENT FIRMS
LIKE FIDELITY SCHWAB VANGUARD
AND OTHERS. BUT ALSO INCLUDE
FOUNDATIONS UNIVERSITIES AND
OTHERS. NATIONALLY DAFT'S ADOPT
ACCOUNTS HOLD ABOUT A HUNDRED
AND TEN BILLION DOLLARS AND
DON'T DONATED. A TURTLE ASSET
OF WHICH SEVENTEEN BILLION IS
HELD IN DEATH SPONSORED
ORGANIZATIONS HEADQUARTERED
HERE IN CALIFORNIA. I PROPOSE
THIS BILL TO ADDRESS CONCERNS
THAT WERE HIGHLIGHTED IN A
RECENT REPORT FROM THE US
GOVERNMENT ACCOUNTABILITY
OFFICE. NAMELY DORMANT VERSIONS
OF A LACK OF PUBLIC BENEFIT AND
IMPROPER DONOR CONTROL. DOZENS
OF NON PROFITS FROM ON
CALIFORNIA ECHO THESE CONCERNS.
AS THEY GRAPPLE WITH MAKING. IT
NEEDS OF THEIR COMMUNITY I
WATCHED FUND GROWING. AS IT
VISUALS GIVING TO. READING
CHAIR FALL WITH AN ESTIMATED
THREE HUNDRED MILLION.
EXPENDITURES GOING TO TERRIBLE
TAX DEDUCTIONS CLAIMED FOR
DEATH CONTRIBUTIONS THE STATE
HAS A COMPELLING INTEREST IN
BETTER UNDERSTANDING THE FLOW
AND TIMING ISSUES ASSOCIATED
WITH THE OFFICE. THE DONORS CAN
CLAIM A TAX DEDUCTION AS SOON
AS THEY CONTRIBUTE MONEY STOCKS
OR OTHER ASSETS TO DRAFT THE
FUNDS CAN SIT INDEFINITELY
WITHOUT PROVIDING ANY PUBLIC
CHARITABLE BENEFITS. WELL THE
OPPONENTS OF THIS BILL ARGUED
DONATIONS MEANT FOR THE
COMMUNITY BENEFIT DO NOT SIT
DEATH ACCOUNTS THERE IS NO FUN
LEVEL THAT IT TO SUBSTANTIATE.
THIS ASSERTION. AB SEVENTEEN
TWELVE DOES NOT PRESUME TO KNOW
WHAT POLICY REFORMS MAY BE
WARRANTED. MY GOAL WITH AB
SEVENTEEN TWELVE IS TO SIMPLY
LEARN MORE. AS SUCH THE BILL
ADDRESSES A GAP IN TRANSPARENCY
BY REQUIRING THE ATTORNEY
GENERAL TO ADOPT RULES THAT
REQUIRE CHARITABLE
ORGANIZATIONS TO DISCLOSE KEY
INFORMATION ABOUT THE
INDIVIDUAL DEATH ACCOUNT THEY
MANAGE. AMENDMENTS TAKEN ON
JANUARY SIXTH REQUIRE ANONYMITY
FOR DONORS BY PROVIDING THE
DISCLOSURE OF INFORMATION
IDENTIFIES OR DESCRIBES
INDIVIDUAL DONORS INCLUDING
THEIR NAMES SOCIAL SECURITY
NUMBERS ACCOUNT NUMBERS AND
CONTACT INFORMATION. PRIVACY
I'VE SOMEONE WHO'S RUN SOME
PRETTY OF AMBITIOUS PRIVACY
BILLS PRIVACY IS IT AN ISSUE I
CARE ABOUT AND WE'RE WORKING
VERY HARD TO MAKE SURE THIS
PRIVACY IS PROTECTED. THE LAST
NAME AND ALSO ADDRESS ITS
CONCERNS BY THE OPPOSITION
ABOUT THE POTENTIAL
ADMINISTRATIVE BURDEN THAT OME
DEAF SPONSOR ORGANIZATIONS MAY
FACE BY EXEMPTING. THOSE WITH
LESS THAN THREE HUNDRED MILLION
AND DEATH ASSETS FROM THE BILL.
WITHOUT PROPER OVERSIGHT WHICH
PROVIDES EVIDENCE THAT THE
CHURCH WILL FUNDS AND APPS ARE
MAKING IT OUT TO OUR
COMMUNITIES. ARE COMMUNITIES
COULD BE MISSING OUT TWICE.
THEY MISS OUT WHEN THE STATE
HAS LESS GENERAL FUND MONEY TO
FUND THINGS LIKE PUBLIC
EDUCATION HEALTH CARE AND
THINGS OF THIS NATURE. AND OUR
COMMUNITIES COULD BE MISSING
OUT A SECOND TIME WHEN THE
ORGANIZATIONS TO WHICH THEY
TURN TO FOR HELP ARE UNABLE TO
SERVE THEM BECAUSE THE
RESOURCES THEY NEED. ARE
SITTING IN A DORMANT DEATH
ACCOUNT. BY REQUIRING A LATER
OF DISCLOSURE THAT PROTECTS
DONORS ANONYMITY. AB AT TWELVE
SEVENTEEN TWELVE WILL PROVIDE
IMPORTANT CHARITABLE GIVING
DATA TO THE ATTORNEY GENERAL
AND SHED LIGHT ON THIS
INCREASING POPULAR. UNREGULATED
PRACTICE. I NOW HAVE TWO GREAT-
WITNESSES HERE AND I'M GONNA
LOVE THEM TO- TO SELF
INTRODUCED AND I WOULD
RESPECTFULLY ASK FOR AN AYE
VOTE. THANK YOU FIRST WITNESS
PLEASE. THANK YOU
ASSEMBLYMEMBERS STONE AND
COMMITTEE MEMBERS. I'M JAN
MUSKOKA CEO OF THE CALIFORNIA
ASSOCIATION OF NON PROFITS A
STATEWIDE ALLIANCE OF MORE THAN
TEN THOUSAND NONPROFIT
ORGANIZATIONS. THESE ISSUES
ABOUT DONOR ADVISED FUNDS WERE
BROUGHT TO US BY OUR MEMBERS.
THERE ARE MANY NONPROFITS ARE
UNHAPPY ABOUT DONOR ADVISED
pAND IT'S NOT HARD TO SEE WHY.
AS THEY WORK WITH DESPERATELY
POOR FAMILIES AND ON URGENT
CIVIL RIGHTS AND ENVIRONMENTAL
MATTERS THE STAIN NONPROFITS
CAN'T HELP BUT FEEL FRUSTRATED.
WHEN THEY SEE BILLIONS OF
CHARITABLE DOLLARS. FOR WHICH
PEOPLE HAVE GOTTEN TAX
DEDUCTIONS. SITTING AND DONOR
ADVISED FUNDS. NATIONAL IN
CALIFORNIA PRESS HAVE REPORTED
ON DONOR ADVISED FUNDS BEING
USED TO STOCK MONEY VEHICLES AS
TAPS TAX LOOPHOLES FOR
BILLIONAIRES. AND USE FOR
PERSONAL FINANCIAL BENEFIT
THROUGH FUND HOLDERS
CONTROLLING HOW THEIR DONOR
ADVISED FUNDS ARE INVESTED. IN
CALIFORNIA THERE ARE FEWER THAN
TWO HUNDRED. INSTITUTIONS THAT
SPONSORED DONOR ADVISED FUNDS
BUT THEY HOLD A REMARKABLE ONE
POINT SEVEN BILLION. INSURABLE
FUNDS. EACH YEAR IS ASSEMBLY
MEMBER WORKS NOTED THE- STATE
OF CALIFORNIA SPENDS THREE
HUNDRED MILLION DOLLARS IN TAX.
MANAGER THE DOT PEOPLE ON THE
ON THE NATION'S TO DONOR
ADVISED FUNDS BUT WHEN WE
STARTED TO LOOK FOR MORE DATA
ABOUT DONOR ADVISED FUNDS WE
COULD FIND SO LITTLE
INFORMATION ABOUT THEM THAT WE
COULDN'T EVEN TELL WHETHER
REGULATION WAS NECESSARY OR IF
SO WHAT IT WOULD LOOK LIKE SO
THIS BILL ASKED FOR EACH DONOR
ADVISED FUND VERY SIMPLE
INFORMATION HOW MUCH CAME INTO
THE FUND HOW MUCH WENT OUT AND
HOW MUCH WAS SPENT IN
INVESTMENT AND MANAGEMENT FEES
THAT'S IT. THE BILL DOES NOT
CALL FOR ANY MANDATORY PAYOUTS
IT PROTECTS DONOR ANONYMITY IT
LOOKS ONLY AT THE LARGEST STAFF
SPONSORS THEREBY EXEMPTING
VIRTUALLY ALL COMMUNITY
FOUNDATIONS I WANT TO ADDRESS
TO SPECIFIC CONCERNS RAISED BY
THE OPPOSITION FIRST AS DONOR
ANONYMITY THIRTY EIGHT SIMPLE
WAYS TO PROTECT DONOR
ANONYMITY. I IS TO. HAVE THEM
REPORT ON EACH FINE BUT IN A
CODED NUMBER FOR EACH FIND
RATHER THAN THE DONOROR THE
CONTROLLER OF THE FUN. THE
SECOND ONE IS TO USE THE SAME
SYSTEM THAT IS CURRENTLY IN
PLACE FOR DECADES WITH THE
CALIFORNIA ATTORNEY GENERAL
USING ON SCHEDULE BE. A FORM
THAT CALIFORNIA NON PROFITS ARE
REQUIRED TO FILE WITH THE NAMES
AND ADDRESSES OF OUR DONORS BUT
THE ATTORNEY GENERAL HOLDS
MINUTES NOT DISCLOSED TO THE
PUBLIC. SO THERE ARE TWO. WAYS
BOTH OF THEM AND EXTENSIVE USE
ALREADY. SECOND CONCERN IS WHY
ADVOCATE PAYMENT ISN'T ADEQUATE
RECORDING THIS ENOUGH. LET'S
SUPPOSE THAT THERE CAN MILLION
PEOPLE TEN PEOPLE SORRY TEN
PEOPLE ON H. BUT ONE MILLION
DOLLARS INTO A DONOR ADVISED
PLAN. TWO OF THEM GIVE OUT
THERE SAY MILLION IN THE SAME
YEAR SO THAT MEANS THE DEATH
SPONSOR COULD REPORT TO PAY OUT
RATE OF TWENTY PERCENT. BUT
EIGHT OF THOSE FUNDS DID NOT
DISPERSE ANY MONEY AT ALL. AND
IF THOSETWO PEOPLE ACTUALLY
MOVE THEM TO A DIFFERENT DOT
ORG VICE FUND. WOULD ACTUALLY
NOTHING WITHOUT WE GOT OUT TO
COMMIT DESPITE. THAT IT WOULD
LOOK LIKE THERE WERE STILL THE
SAME 20% FULL OF ACTIVITY. THIS
WILL BE. THE DAY WILL ALLOW.
PLAYERS THEM STRAIGHT THEY ARE
DOING THINGS RIGHT NOT JUST
ASSERT THAT THEY ARE. AND IT
WILL DROP BACK THE CURTAIN ON
THE LARGEST FUNDS AND HOW THOSE
FUNDS ARE DEPLOYED. IF THEY ARE
JUST SITTING THERE OR IF THEY
ARE SIMPLY BEING TRANSFERRED
AMONG VARIOUS DONOR ADVISED
FUNDS. MAKING IT APPEAR THAT
THERE IS REAL ACTIVITY. MORE
THAN ONE HUNDRED CALIFORNIA
WRAP UP PLEASE THANK YOU MORE
THAN ONE FOR CALIFORNIA NON
PROFITS OF COURAGEOUSLY SIGNED
ON TO SUPPORT THIS. MOST OF
THEM THINK WE ARE NOT GOING FAR
ENOUGH BUT WE WANT TO BE SURE
WITH WITH THE ITEM THANK YOU
FOR YOUR ATTENTION. THANK YOU
NEXT WITNESS PLEASE. THANK YOU
CHAIR STONING COMMITTEE MEMBERS
I'M PIEDMONT SO PRESIDENT OF
UNITED WAS APPOINTED A
STATEWIDE NETWORK FOR CAL
UNITED WEAPONS. UNITED WAYS
BILL OPPORTUNITIES FOR LOW
INCOME WORKING FAMILIES. TO
MOVE UP BY FOCUSING ON THE
THREE KEY BUILDING BLOCKS. OF
THE GOOD LIFE EDUCATION INCOME
AND HEALTH ANNUALLY
CALIFORNIA'S UNITED RAISE.
RAISE ABOUT TWO MILLION DOLLARS
EACH YEAR IN INVEST THAT BACK
IN OUR COMMUNITIES. BECAUSE
MOST OF OUR DONORS GIVE TO
REPLACE AND PAINTINGS ARE
AVERAGE. AS THREE FIFTY
DOLLARS. I MEAN I ALWAYS PUT
THEIR WORK TYPICALLY WITHIN
TWELVE TO EIGHTEEN MONTHS OF
RAISING THEM. THAT'S BECAUSE WE
BELIEVE THAT THE PRINCIPLE OF
THE TIME VALUE OF MONEY MEANS
CHARITABLE CONTRIBUTIONS CAN
HAVE GREATER IMPACT IF PUT TO
WORK. MORE QUICKLY RATHER THAN
HELD AND SPENT OVER YEARS AND
DECADES. WE PARTNER CLOSELY
WITH OCAL COMMUNITY
FOUNDATIONS AROUND THE STATE.
AND WE KNOW OUR COMMUNITY
FOUNDATION FRIENDS RELY MORE
HEAVILY ON DEATH'S DOOR VICE
FUNDS THAN WE DO. BUT WE ALSO
USED OR VICE FUNDS IN MANY
CASES. ABOUT FIFTEEN OUR WAYS
ACROSS THE COUNTRY SPONSORED
DONOR VICE FUNDS. IN SUPPORTING
AB SEVENTEEN TWELVE WE'RE
TRYING TO ACHIEVE TRANSPARENCY
THAT CAN. UP PROTECT THE GOOD
WORK WE'RE ALL DOING AND
INCREASED AVAILABILITY OF
TERRIBLE FUNDS FOR OUR
COMMUNITIES. CRITICS EVERY
SERIOUS CONCERNS ABOUT DOOR
VICE FUNDS INCLUDING THAT THE
AUDITORS TO GET A FULL THE-
DIRECTION UP FRONT. AND THEN
THE TERRIBLE- BENEFIT DOESN'T
HAPPEN FOR YEARS LATER. AVOID
PREP PRIVATE FOUNDATION RULES
THAT REQUIRE- A MINIMUM AMOUNT
BE SPENT- GIVE TAX BENEFITS. OF
FOR SPENDING THE BENEFITS THE
DONORS THEMSELVES. HAIDAR MAKE
UNSCRUPULOUS ABOUT COUNTRY
CONTRIBUTIONS TO NONPROFITS
SUCH AS- HATE GROUPS A PARTISAN
POLITICAL PURPOSES- AND
OTHERWISE- SPEND FUNDS THAT
WOULD BE BETTER SPENT ON THE
COMMON GOOD CUNY FOUNDATIONS
UNITED WAYS AND OTHER LOCAL
CHARITIES THAT USED TO REVISE
FUNDS. HAVE CLEAR PHILANTHROPIC
GOALS BOARDS AND LEADERSHIP
THAT LIVE IN AND ARE AT LEAST
SOMEWHAT ACCESSIBLE TO AND
RESPONSIVE TO LOCAL
COMMUNITIES. BUT TODAY TWO
DOLLARS OF EVERY THREE THEY GO
TO DURING VICE FUNDS GO TO VERY
LARGE COMMERCIAL FUNDS MOSTLY
AFFILIATED WITH FINANCIAL
MANAGEMENT COMPANIES LIKE
FIDELITY. VANGUARD SWAB GOLDMAN
SACHS AND OTHERS THAT ARE NOT
SO ACCESSIBLE OR VISIBLE
COMMUNITIES. I'M IT BACK IN THE
MID TWO THOUSANDS COMMUNITY
FOUNDATIONS AND OTHER ADVICE
FUNDS WERE ROUGHLY. EVEN ABOUT
FOUR BILLION DOLLARS IN ANNUAL-
INCOME NOWADAYS- TWENTY
NINETEEN OF TWENTY EIGHTEEN-
COMMERCIAL DONOR ADVISED FUNDS
RAISED TWENTY THREE BILLION.
NEARLY THREE TIMES AS MUCH AS
COMMUNITY FOUNDATIONS THIS BILL
PROTECT ANONYMITY FOR DONORS
DOES NOT MANDATE A RATE OF PAY
OUT. AND SIMPLY ASK THE STORE
VICE FUND REPORT HOW MUCH CAME
IN. HOW MUCH WENT OUT INTO
WHERE AND HOW MUCH WAS PAID A
MANAGEMENT AND INVESTMENT FEES.
THAT SOUNDS SIMPLY LIKE GOOD
CITIZENSHIP AND STEWARDSHIP OF
TERRIBLE FUNDS TO US. WE KNOW
WELL THE CHALLENGES THAT FACE
OUR COMMUNITIES FROM
HOMELESSNESS AND FOOD AND
SECURITY TO RECOVERY FROM FIRES
AND OTHERS AS NATURAL
DISASTERS. THESE ARE URGENT
NEEDS THAT THE MAN CHARITABLE
DOLLARS SUPPORTED BY TAX
DEDUCTIONS. BE SPENT AS WISELY
AND EFFICIENTLY AS POSSIBLE AND
IN OUR VIEW DO THE MOST GOOD
FOR THE PEOPLE WITH THE
GREATEST NAY. PLEASE VOTE YES
ON AB SEVENTEEN TWELVE TO
ASSURE THAT CHURCH WILL GIVING
THREE DONOR ADVISED. BECAUSE
MORE TRANSPARENT AND
ACCOUNTABLE TO THE TRUE PURPOSE
OF CHAIR AND TERRIBLE
PRODUCTION THANK. YOU. BUT THIS
RAISES YOUR MISTER DRUM IN THE
HOUSE. I YEAH I TYPICALLY ALLOW
THREE WITNESSES IN HIS REYES
HAD MENTIONED THAT YOU WOULD
WANT TO MAKE A STATEMENT. IN
SUPPORT YOU'RE WELCOME TO. HI
OF MONEY FROM AND- I WAS THE
FOUNDER OF THE TIDES FOUNDATION
BEGINNING IN NINETEEN SEVENTY
SIX THAT- BUILT A DONOR ADVISED
FUND BUSINESS OF SCALE- I AM IN
SUPPORT OF THIS LEGISLATION IS
ACTUALLY. WELL OVERDUE.
PRIMARILY BECAUSE THE WAY THE
FEEL HAS EVOLVED OVER THE YEARS
HAS UNDERMINED THE CENTRAL
PREMISE OF THE NINETEEN SIXTY
NINE TAX REFORM ACT WHICH
CREATED THE STRUCTURE. IN WHICH
NON PROFITS EXIST THAT
DIFFERENTIATED BETWEEN
OPERATING CHARITIES ARE PUBLIC
CHARITIES AND PRIVATE
FOUNDATIONS DIFFERENT TAX
BENEFITS FOR THE FORMER-
INCREASED TAX BENEFITS FOR THE
FORMER. OF THE WEIGHT HONORED
VICE FUNDS HAVE OPERATED. AS A
PUBLIC CHARITIES THEY SIMPLY
ARE LESS ACCOUNTABLE YOU CAN'T
SEE INTO THE ACTIVITIES OF THE
FOUNDATIONS- SECOND. THE
EVOLUTION OF THE COMMERCIAL
FUNDS AS WE CALL THEM REALLY
ARE CAPTIVE CHARITIES OF
FINANCIAL INSTITUTIONS AND THEY
CONSTITUTE IN MY VIEW
ESSENTIALLY AN ASSET
ACCUMULATION STRATEGY. AT WITH
VERY LITTLE COMMITMENT TO WERE
KNOWLEDGE ABOUT THE FIELD
ITSELF IF YOU LOOK AT HOW
THEY'RE MANAGED OR THE
INFORMATION PROVIDED ON THE
WEBSITES OR ANYTHING ELSE.
THIRDLY I WOULD. OPPOSE THE
EXCEPTIONS THAT ARE IN THE
AMENDMENT THAT YOU HAVE IN
FRONT OF YOU I BELIEVE- TO
ACCEPT SMALLER COMMUNITY
FOUNDATIONS AND DONORS VICE
FUND SPONSORS FROM THIS
ACCOUNTABILITY OR TRANSPARENCY
BASICALLY ANY DONOR ADVISED
FUND. SPONSOR DOES FUND BY FUND
ACCOUNTING IT'S ESSENTIAL IT'S
THE WAY YOU PROVIDE SERVICES TO
THE DONORS IN THAT HAVE MADE
CONTRIBUTIONS AND CREATED
FUNDS. GIVING THAT INFORMATION
WITH APPROPRIATE ANONYMITY
PROTECTIONS- IS THE SHOULD BE
SEAMLESS IT SHOULD NOT BE A
BURDEN FOR ANYBODY DOING THIS
KIND OF ACTIVITY- SO I WOULD
OPPOSE THAT PARTICULAR
EXCEPTION BUT REALLY ENCOURAGE
YOUR SUPPORT FOR THE
LEGISLATION BECAUSE IT WILL
OPEN THE DOOR. TO AN
UNDERSTANDING OF HOW THESE
DONOR ADVISED FUND SPONSORS
TRULY OPERATE AND WILL GIVE
SOME INDICATION ABOUT HOW THE
CAPTIVE FINANCIAL RELATIONSHIPS
BETWEEN THE COMMERCIAL FUNDS.
IN THEIR CAPTIVE CHARITIES
ACTUALLY OPERATE THANK YOU
THANK YOU. ANYONE ELSE WOULD
LIKE TO REGISTER SUPPORT FOR
THIS BILL COME THE MICROPHONE
AND GIVE US YOUR NAME AND YOUR
AFFILIATION PLACE. GOOD MORNING
MR TURN MEMBERS LEON TROUT AND
REPRESENT A NEXT GEN CALIFORNIA
WE'RE VERY PLEASED TO SPONSOR
THIS LEGISLATION AND SUPPORT
FOR ALL OF THE REASONS STATED
I'M ALSO REPRESENTING IN THE
CALIFORNIA LEAGUE FOR CONCERT.
VOTER IN SUPPORT. GOOD MORNING
MISTER CHAIR AND MEMBERS
JENNIFER FEARING ON BEHALF OF
COUNT ON PROFITS THE CALIFORNIA
ASSOCIATION OF MUSEUMS AND ALSO
ON BEHALF OF THE FEARLESS FUND
THE DONOR ADVISED FUND THAT MY
HUSBAND AND I. HAVE AT THE
SACRAMENTO REGIONAL COMMUNITY
FOUNDATION WE HAPPILY PROVIDE
THE REPORT REQUIRED BY THIS AND
IN FACT WE WOULD DO IT DO SO
WITHOUT ANONYMITY THANK YOU.
THANK YOU I AM JUST LOOKING FOR
SUPPORT FOR THIS SAID NOT FOR
THEIR TESTIMONY THANK YOU
JANUARY TERRACE ON BEHALF OF
THE UTILITY REFORM NETWORK TURN
IN SUPPORT. THANK YOU. MISTER
CHAIR ON A MEMBERS OF THE
COMMITTEE MANY MYSTERIES
MALIBRAN AND I'M HERE ON BEHALF
THE OFFICE OF CAT TAYLOR TO
SUPPRESS STRONG SUPPORT FOR THE
BILL. THANK YOU ANYONE ELSE IN
SUPPORT. RIGHT SIGNAL THANK YOU
SIR OPPOSITION
. GOOD MORNING
MISTER CHAIR IN COMMITTEE I'M
JAMES HEAD I'M OF THE VOICE
PRESIDENT OF THE LEAGUE OF
CALIFORNIA COMMUNITY
FOUNDATIONS OF THE LEAGUE IS AN
ASSOCIATION OF THIRTY PLUS
COMMITTEE FOUNDATIONS THAT
SERVE 95% OF THE STATE'S
POPULATION. I'M ALSO THE
PRESIDENT AND CEO OF THE EAST
BAY COMMUNITY FOUNDATION SEVEN
ALAMEDA AND CONTRA COSTA COUNTY
IN THE BAY AREA. I FIRST WANT
TO ACKNOWLEDGE OF GRATITUDE TO
ASSEMBLY WEEKS FOR HER
WILLINGNESS TO HAVE
CONVERSATIONS WITH US ABOUT- AB
SEVENTEEN TWELVE AND ABOUT
DON'T ADVISE FUNDS. AND OF
CHAIRMAN STONE IN THIS
COMMITTEE AND THE STAFF- TO
ALLOW THAT THAT DISCUSSION AND
DIALOGUE TO HAPPEN. HOWEVER THE
LEAGUE MEMBERS BOTH LARGE AND
SMALL REMAIN CONCERNED AT THAT
AS CURRENTLY WRITTEN AB
SEVENTEEN TWELVE. RESULT IN
SEVERE UNINTENDED. MRS W. FOOD
ON ADVICE FUNDS. DON'T ADVISE
FUNDS AND THAT'S WHAT WE THINK
THAT THIS WILL POTENTIALLY
CREATE A CHILLING EFFECT ON THE
WILLINGNESS OF CALIFORNIANS TO
USED ON ADVICE FUNDS. TO
ACCOMPLISH THE JOB OF GIVING.
MOST OF THESE DOLLARS WORKS-
ASSETS COMMITTEE FOUNDATIONS-
BECAUSE OF THEIR DESIRE NOT TO
SEEK RECOGNITION- BUT OF THIS
IDEA TO BETTER UNDERSTAND THE
NONPROFIT COMMUNITY AND THE
GIVEN OPPORTUNITIES THAT THEY
HAVE. OUR MISSION IS A
COMMUNITY OPERATIONS IT'S
IMPROVE THE WELL BEING OF
COMMUNITY MEMBERS ESPECIALLY
THOSE MOST IN NEED. THEREFORE
WE MAIN ACTS WE MAINTAIN THE
HIGHEST DEGREE OF TRANSPARENCY
REGARDING DON'T ADVISE FUNDS TO
ACCURATE REPORTING. WITH THE
SENATE TAKE THE GREATEST LEVEL
OF FINANCIAL SUPPORT FOR
NONPROFITS WHO DON'T ADVISE
FUNDS THE WORK THAT WE DO EVERY
DAY. AND WE ENSURE THAT THE TAX
BENEFITS DON'T ADVISE FUND'S
HOLDERS GET RESULTS AND LOCAL
COMMUNITY BENEFITS. IN
CONCLUSION I THINK THAT WHAT I
WOULD SAY IF THAT. WHEN WE
TRIED TO ALL OF THE NEED FOR
DONNA VICE FUNDS TO BENEFIT
COMMUNITIES WE'RE TALKING ACSI
NOT SO MUCH ABOUT BILLION AS
BUT- SIMPLE CALIFORNIANS WHO
SEE THAT THAT THE VEHICLE TO
GET BACK TO THE COMMUNITIES-
THAT THE SAFE AND WHERE THEY
MAKE THEIR THEIR THEIR
RESOURCES. THE LEAGUE IS REALLY
INTERESTED IN CONTINUE THIS
DISCUSSION ABOUT LOCKING
WELCOME FOR THE OPPORTUNITIES
TO WORK TOGETHER. TO MAKE THAT
THE TWO THAT CONTINUES TO BE
ONE FOR CALIFORNIANS TO USE-
AND THAT CAN BE OFFERED FOR TWO
OF A GIVING SO THANK YOU. THANK
YOU. EXPRESSED PLEASE. GOOD
MORNING MISTER CHAIR AND
MEMBERS MY NAME IS NICOLE
TAYLOR AND I HAVE THE PRIVILEGE
OF LEADING THE SILICON VALLEY
COMMUNITY FOUNDATION AND I ECHO
THE APPRECIATION FOR THE
AUTHOR. AND FOR THE COMEDIAN
HEARING OUR CONCERNS. WE SHARE
WITH YOU AND THE AUTHOR THE
GOAL OF ENSURING THE HIGHEST
PROFESSIONAL STANDARDS FOR THE
PHILANTHROPIC COMMUNITY.
HOWEVER REMAIN OPPOSED TO AB
SEVENTEEN TWELVE FOR TWO
FUNDAMENTAL REASONS. ONE IS A
SIGNIFICANT CONCERN RESULTING
FROM THE BILL'S FUND BY FUND
REPORTING REQUIREMENTS. OUR
EXTENSIVE EXPERIENCE WORKING
WITH TENS OF THOUSANDS OF
GENEROUS DONORS ACROSS THE
STATE. CONVINCE US THAT THESE
NEW REQUIREMENTS WOULD DAMAGE
THE TRUST THEY PLACED IN US.
WELL WE APPRECIATE THAT THE
AUTHORS TAKEN THE STEPS TO
MITIGATE THE RISK THEY ARE NOT
SUFFICIENT TO FULLY PROTECT OUR
PRIVACY. THE BILL'S REPORTING
REQUIREMENTS CAN EASILY ALLOW
SOMEONE IN THE PUBLIC SPHERE TO
FIGURE OUT WHO THE DONOR IS AND
WHAT ORGANIZATIONS THEY WANT TO
GIVE. SO THE QUESTION IS WHY
CAN'T ALL CALIFORNIANS HAVE
THEIR PRIVACY PROTECTED IN THIS
WAY. IN SHORT ORDER WE BELIEVE
THAT THIS IS GOING TO HAVE A
CHILLING EFFECT OF CHARITABLE
GIVING THROUGHOUT OUR STATE.
THE SECOND CONCERN IS THAT AB
SEVENTEEN TWELVE REMAINS
DISTURBINGLY VAGUE IN THE
PROBLEM IT SEEKS TO ADDRESS IN
ITS CURRENT FORM THE BILL PIC
CODIFIES IS SUSPICIOUS AN ODDLY
DARK VIEW OF THE PERSONAL
GENEROSITY. THAT RESULTS IN
SEVERAL BILLION DOLLARS OF
ANNUAL SUPPORT TO CALIFORNIA
FAMILIES AND COMMUNITIES IN
NEED. IN OUR VIEW THE PROPOSED
SWEEPING INCREASING RECORDING
REPORTING. AS WELL AS THE
UNDEFINED REQUESTS DIRECTED TO
THE ATTORNEY GENERAL REVEAL
THAT A. B. AB SEVENTEEN TWELVE
IS NEITHER PRUDENTLY
PROPORTIONAL NOT WORTHY OF ITS
RISK. MY OLLEAGUES AT THE
COMMUNITY FOUNDATIONS AND
NATIONAL THAT SPONSORS STAND
OPEN AND AVAILABLE TO WORK WITH
THE AUTHOR TO FIND REASONABLE
REASONABLE ADAPTATIONS THAT
WILL ENHANCE GIVING VEHICLE
THAT IS AND HAS BEEN
DEMONSTRABLY SUCCESSFUL IN
ENCOURAGING AND FACILITATING
TERRIBLE GIVING THROUGHOUT OUR
GREAT STATE. THANK YOU THAT'S
WHAT THIS. MY NAME IS PATRICIA
JONES SPEAKING OKAY HERE I AM
I'M HERE AS A COUNCIL ON
FOUNDATIONS WHICH IS A NATIONAL
ORGANIZATION OF FOUNDATIONS
NATIONAL STANDARDS REVIEWER I
REVIEW NATIONAL CENTERS AND
COMMUNITY FOUNDATIONS
THROUGHOUT THE UNITED STATES.
ALONE I WANT TO EXPRESS HOW
IMPORTANT THAT IS BUT I ALSO
WANT EXPRESS THAT WE HAVE THE
SAME GOAL BOTH THE PROPONENTS
AND OPPONENTS OF THIS BILL WE
HAVE THE SAME GOAL WE'RE BOTH
LOOKING AT INCREASING
CHARITABLE GIVING AND USING THE
BEST PRACTICES TO DO THAT. BUT
WE WORKED WITH IN THE PAST I'VE
WORKED WITH THE LEAGUE OF
CALIFORNIA THREE FOUNDATIONS
WE'VE WORKED WITH JANICE OKAY
NOT AND CAL ON PROFITS
LEGISLATION IN OTHER PROJECTS.
AND EXPECT TO DO THAT IN THE
FUTURE. BUT WE WANT TO DO WITH
THIS BILL IS FIND A PATH. WITH
THE AUTHOR AND THE PROPONENTS.
TO FIND A PATH TO MAKE SURE
THAT EVERYBODY HAS A GOOD
UNDERSTANDING. OF LOOKING
FORWARD TO EXHIBIT WHAT A
POWERFUL AND GOOD TOOL DAUGHTER
VICE FUNDS ARE INTO INFUSING. A
LOT OF MONEY INTO THE NONPROFIT
SECTOR- BUT WE ALSO WANT TO
MAKE SURE THAT AS- AS UP. ALL
ARE VERY RESPECTFUL OF THE
CALIFORNIA CONSUMER PRIVACY AND
THE EXPECTED FEDERAL PER SIDE
PRIVACY PROTECTIONS ON DONORS.
AND WE LOOK FORWARD TO WORKING
WITH YOU IN THE FUTURE AND WE
REALLY APPRECIATE THE WORK THAT
YOU'VE DONE WITH US SO FAR
THANK YOU. THANK YOU. WHAT ELSE
IN OPPOSITION IF YOU COULD GIVE
US YOUR NAME AND YOUR
AFFILIATION PLEASE. GOOD
MORNING MR NUMBERS TO SAY
AROUND THROUGH ON BEHALF OF
PHILANTHROPY CALIFORNIA A
NETWORK OF SAN DIEGO GRANT
MAKERS NORTHERN CALIFORNIA
GRANT MAKERS AND SOUTHERN
CALIFORNIA GRANT MAKERS. ON MY
COLLEAGUES AT THE PLANT THE
ROUND TABLE IN THE LINES OF
TERRIBLE REFORM WOULD ALSO LIKE
TO SHOW THE CONCERNS ABOUT WHAT
THE BILL. THANK YOU. JIM LIGHTS
UP HAVE A VANGUARD CHARITABLE
WE ARE OPPOSED IN LESS AMENDED
THANK YOU. FRED MADE ON BEHALF
OF FIDELITY CHARITABLE OPPOSE
UNLESS AMENDED. MAP BACK ON
BEHALF OF SWAP CHARITABLE
OPPOSE UNLESS AMENDED THANK YOU.
CRISP FALL UNDER A BEHALF OF
THE NATIONAL PHILANTHROPIC
TRUST OPPOSE A LAST MINUTE.
THANK YOU. RIGHT OF BRING IT
BACK TO COMMITTEE QUESTIONS
COMMENTS. MR BIRTHDAY. THANK
YOU MISTER CHAIR UP TO SOMEONE
WOMAN I THINK YOU'VE IDENTIFIED
SOME REALLY. THE SYSTEM REALLY
IMPORTANT CONCERNS WITH WHAT'S
GOING ON IN THIS INDUSTRY- IT
THE BILL ALLOWS THE ATTORNEY
GENERAL TO ASK A SERIES OF
QUESTIONS WHICH I THINK ARE ARE
MOSTLY VERY APPROPRIATE. BUT
I'LL TELL YOU MY CONCERN WITH
THE BILL IS THAT IN ADDITION TO
ASKING THOSE QUESTIONS THAT
HAVE DIRECT RELEVANCE THE
ATTORNEY GENERAL CAN DEMAND ANY
INFORMATION THAT IT DEEMS
NECESSARY TO DETERMINE WHETHER
OR NOT THE FUNDS ARE BEING
PROPERLY ADMINISTERED. AND THAT
IS NOT A- INFORMATION THAT WE
ARE FORCE ANY OTHER KIND OF
INVESTMENT TO DISCLOSE OUR
MOMENT OR IF YOU TALK A LITTLE
BIT ABOUT WHAT YOU'RE THINKING
WAS BECAUSE I'M REALLY
STRUGGLING WITH THAT. BECAUSE
IF THAT WERE NOT IN THE BILL I
GOT SOME CONCERNS ABOUT ABOUT
DINNER PRIVACY AS WELL BUT A
BIT OF AN ASIDE FROM THOSE OF
I'M SUPPORTIVEOF WHAT YOU'RE
DOING BUT I MEAN IT IT REALLY
SEEMS LIKE AN OVER REACH THE
WAY THE BILL AS WRITTEN.
ACTUALLY BUT CHEN TAKE.
ASSEMBLYMEMBER OUT WE'VE
ACTUALLY WORKED VERY CLOSELY
WITH THE ATTORNEY GENERAL'S
OFFICE ON THIS BILL. IT'S CLEAR
THAT- WE CAN'T SPECIFY IN THE
BILL EXACTLY ALL THE DETAILS
LIKE SHOULD INCLUDE THE ZIP
CODE OR NOT. AND SO THE
ATTORNEY GENERAL'S OFFICE. THIS
IS TYPICAL LANGUAGE WHERE THEY
WILL KEEP TO THE IDEAS THAT ARE
PRESENTED HERE. BUT IT GIVES
SOME THE LET THE LEVERAGE TO BE
ABLE TO ASK THAT KIND JUST TO
FLESH IT OUT. TO A LARGE DEGREE.
OKAY I UNDERSTAND BUT I MEAN
IT'S OUR JOB AND LEGISLATURE
ARE YOU TO VIEW FULL CHROMIA
BALANCING THE NEEDS OF. OF
PRIVACY IN INDUSTRY ON ONE SIDE
AND THE NEEDS OF PUBLIC
INTEREST ON THE OTHER AND I'M
AFRAID IF WE JUST GOING TO.
GIVE THE ATTORNEY GENERAL FREE
RANGE THE MAN WHATEVER
INFORMATION THAT THEY WANT FROM
THIS AND THREE. THAT THAT'S AN
OVER REACH AND THAT'S WHAT'S
GOING TO PREVENT ME FROM
SUPPORTING THE BILL TODAY. I
UNDERSTAND THAT I THINK I HAVE
A LOT OF CONFIDENCE IN THE
TOURNEY GENERAL'S OFFICE IN
GENERAL NOT JUST THIS
PARTICULAR ADMINISTRATION TO BE
FAIR- AND REALISTIC ABOUT HOW
THEY'VE CRAFT LEGISLATION.
HELLO GOOD AND JUST TO ADD ON
THE PRIVACY FRONT I MEAN WE-HEARD HEARD LOUD AND CLEAR ON
JEOPARDIZE ANYONE'S- PRIVACY ON
THIS AND SO I THINK. WHAT WE
PUT FORTH IT'S A GOOD
COMPROMISE IT'S I THINK FOR
SERVE STANDARD PROTOCOL. TO
ENSURE THAT WE ARE PROTECTING
OUR PRIVACY NO NAME SUBMITTED
NO ADDRESS NO CONTACT
INFORMATION OF PHONE NUMBERS
AND EMAIL ADDRESSES- REALLY
JUST SORT OF AN ACCOUNT NUMBER.
SO WE CAN SEE WHAT WE WANT TO
KNOW IS. YOU KNOW. THE MONEY
WENT INTO DEATH DID IT GO OUT
RIGHT- AND I THINK. I THINK AS
AS YOU THE OPPOSITION SAID TO I
THINK THEY ALSO WANT TO ENSURE
THAT. THEIR MONEY IS MAKING IT
OUT TO THE COMMUNITY WE JUST
DON'T HAVE THE INSIDE RIGHT
NOW. OR THE SUNLIGHT ON IF THAT
IS ACTUALLY HAPPENING WHEN
THERE'S AGGREGATED DATA THAT'S
WHY THE INDIVIDUAL. INFORMATION
IS CRITICAL SURE BUT- I THINK
WE'RE ON THE SAME PAGE ABOUT. I
HAVE SOME CONCERNS OF PRIVACY
AS WELL. HAPPY THAT YOU'RE
GOING TO CONTINUE TO WORK ON
IT. I THINK THAT THE ARGUMENT
IN THE COMMITTEE ANALYSIS WAS
REALLY FASCINATING ABOUT. THE
WAYS IN WHICH JUST DISCLOSURE
OF WHAT THE ASSETS WERE. COULD
REVEAL THE IDENTITY OF SOME OF
THE DONORS JUST BECAUSE OF YOU
KNOW THE UNIQUE NATURE OF THE
ASSETS THAT ARE IN THE DEATH.
SO I'M HOPEFUL THAT YOU CAN
CONTINUE TO WORK ON THAT BUT
I'D LIKE TO ASK YOU. A I'LL BE
IN RESPECTFUL OPPOSITION TODAY
BECAUSE OF THOSE CONCERNS. I IF
YOU COULD AS THE BILL MOVES
FORWARD I MEAN I TINK. I THINK
IT WOULDN'T TAKE A LOT TO GET
THIS BILL INTO A- FORM OF.
SOMETHING THAT THAT I AND OTHER
PEOPLE COULD SUPPORT- BUT BUT
IF YOU WOULD LOOK AT MAYBE
LIMITING THE INFORMATION THAT
THE AG KIND. OF BECOME COULD
ASK FOR BECAUSE I DON'T THINK
IT'S A HEALTHY THING TO GET
THEM. WATCH SURE I WILL LOOK.
TO IT AND I'LL CONTINUE TO WORK
ON THE PRIVACY PIECES WALDRON.
THIS IS A- I AS GONNA SUPPORT
THE BILL TODAY I AM I AM THANK
YOU TO THINK THAT IS THE MOST
OF THEIR CS THANK YOU I AM
CONCERNED I'M AND I THINK I
SPOKE WITH ADVOCATES- I
PROBABLY I IT I SHARE THE
CONCERNS AND WOULD SUPPORT
SOMETHING THAT DELAYED A TAX
BENEFIT UNTIL THE MONEY WAS
ACTUALLY SENT I WOULD SUPPORT
SOMETHING- THAT PUT A NUMBER ON
WHEN AN APPROPRIATE AMOUNT I'M
GOING OUT IS. I'M A LITTLE
CONCERNED- I THINK MR OBERNOLTE
SAID IT BETTER THAT WERE WERE
ENGAGE IN SOME KIND FISHING
EXPEDITION- I LIKE IT'S I'D
LIKE TO HAVE A BILL WHERE THE
PROBLEM IS CLEAR AND THE
SOLUTION FOR THE PROBLEM- THE
PROBLEM IS HERE I THINK WE CAN
AGREE THAT THERE'S A PROBLEM-
I'M NOT SURE IF THE SOLUTION
FITS THIS PART. AND SO THAT'S
WHERE WE HAD A GOOD DISCUSSION
AND OFFICE AND PERHAPS I MOVING
TO STEPS TO QUICK BECAUSE YOU
KNOW I UNDERSTAND THERE IS A
NEED ARE FIRED BEGET. I'D BEEN
ON I DON'T SUGGEST I KNOW A
BETTER WAY. BUT IT DOES COME
TO. SELL IT WOULD FEEL BETTER
IF. ANY FOUNDATION OF WAS AT
LEAST NEUTRAL ON THIS THEY'RE
NOT THEY'RE THEY'RE VERY MUCH
OPPOSED AND- WORKING CLOSELY
WITH THEM OVER THE YEARS ON ON
FUNDING NONPROFITS IN MY
DISTRICT- REALLY THE PRIMARY
FUNDING SOURCE OF MY DISTRICT
NONPROFITS I DON'T WANT TO BE
IN A POSITION WHERE- WERE WERE
SOMEOW LIMITING NOT HELP- I
JUST WANT TO KEEP TALKING I
WANT TO SEE WHAT WE CAN DO TO
WORK WITH THE OPPOSITION. THERE
WERE- AT WHAT I THINK YOU'VE
IDENTIFIED IS REALLY. BUT YEAH
SO HOPEFULLY WE CAN LIKE IN THE
NEXT WEEK YEAH. WITH PLENTY OF
TIME. NO I'M COMMITTED TO AND
HAVE HAD ONGOING CONVERSATIONS
WITH OPPOSITIONWILL CONTINUE
TO DO SO AS WELL I MEAN IT IS
DEFINITELY NOT MYINTENT TO
HAVE UNDER THESE AND IT HAD A
CONSEQUENCES OF YOU KNOW-
ABATING GIVING AND ALL THOSE
TYPES OF THINGS I WORK CLOSELY
WITH MY COMMUNITY FOUNDATIONS
AS WELL THEY'RE SPLIT ON IT-
BUT I HEAR YOU LOUD AND CLEAR
WE WANT TO MAKE SURE THAT THEY
ARE EIGHT. THE GREAT WORK THAT
THEY DO. YOU KNOW AND IT SOUNDS
LIKE YOU ARE TWO STEPS AHEAD
OF. THE BABY YOUR IN THE BILL'S
NEXT YEAR ON THE- JOB. BUT I DO
THINK THAT THE IDEA ON THIS IS
THE TRANSPARENCY PEACE BUT I
WILL WORK WITH YOUR OFFICE AND
WITH THE OPPOSITION AS WELL.
THANK YOU MISTER KILEY KALRA.
COULD YOU JUST TO HELP ME
UNDERSTAND A LITTLE BETTER WHAT
EXACTLY YOU THINGS GOING ON
HERE AND HOW IT IS THAT THESE
ARE OR WHAT FOR WHAT PURPOSE
ARE IN WHAT IMPROPER PURPOSE
THESE- ARE BEING USED I HEARD
SOME MENTION OF- POSSIBLE A
RELATIONSHIP WITH THE FOR
PROFIT FINANCIAL INSTITUTIONS-
SO WHAT EXACTLY YOU THINK IT IS
THAT WE BE TRYING TO UNCOVER
SURE SO I THINK AND I L. MY
WITNESSES CAN. TALK AS WELL BUT
THERE BEEN NUMEROUS MEDIA
ACCOUNTS- OVER THE LAST YEAR
PLUS- AROUND MONEY GOING INTO
DAFT'S BUT THEN POTENTIALLY NOT
MAKE IT OUT TO THE COMMUNITY
AND SO IS SOMEONE AS WE ALL OUR
STUDENTS OF PUBLIC DOLLARS
RIGHT WE MADE THE TO THOSE
FOLKS READING AT A TAX WRITE
OFF SO THAT MONEY CAN GET INTO
THE COMMUNITY. AT ITS SOBRE.
COMING OUR PUBLIC FUNDS. BUT IT.
YEAH JUST ANSWER THE QUESTION-
THERE'S SERVE ANECDOTAL
INFORMATION THAT WE READ ABOUT
AND I'M BUT YOU GUYS CAN SHARE
SOME OF THAT IF YOU WANT- SO
IT'S WE'RE TRYING TO
UNDERSTAND. THIS IS A VERY
UNREGULATED STAFFS ARE ARE
BASICALLY UNREGULATED.
FOUNDATION BOTTOM RIGHT THEY
HAVE A PAY OUT THAT THEY HAVE
TO- PUSH OUT. OF DEATH DON'T
HAVE THOSE OF SAME EXPECTATIONS
AND SO. AS THIS IS A GROWING
PART OF THE PHILANTHROPIC
MONIES THAT IS IT'S MONEY
THAT'S COMING OUT OF OUR TAX
BASE. MORE INSIGHT AND
TRANSPARENCY TO IF THAT MONEY
IS REALLY GETTING AND THE
COMMUNITY IS THE POINT OF THE
BILL. BUT WHAT'S THE REASON WHY
THEY MAY NOT BE GOOD PUTTING
THE MONEY. THE DORMANT ACCOUNTS
I MEAN I DON'T KNOW IF. WELL
WHAT WE CAN TELL YOU IS WHAT
THE PRESS IS TOSSING ABOUT FOR
EXAMPLE THE NEW YORK TIMES THE
LA TIMES FORBES OF BLOOMBERG
AND MANY OTHER PRESS HAVE
REPORTED ON A NUMBER OF THINGS
ONE IS. THE USE OF DONOR
ADVISED FUNDS WERE FOUND DAIS
PRIVATE FOUNDATIONS MOVING
THEIR MONEY INTO A DONOR
ADVISED FUNDS THAT THEY
CONTROL- SO TO MEET THE PAYOUT
REQUIREMENT WITHOUT ACTUALLY
GIVING ANY MONEY OUT. ANOTHER
ONE THE NEW YORK TIMES AS TECH
BILLIONAIRES HACKED OF TAXES
WITH THE PHILANTHROPIC LOOPHOLE
IS THE USE OF LARA BECAUSE
LARGE DONORS LARGE DONOR
ADVISED FUNDS VERY OFTEN. THE
DONORS NOT ONLY CONTROL WHAT
THAT THE MONEY GOES OUT OR NOT
BUT THEY ALSO CONTROL ALL THE
MONEY IS INVESTED. AND SO THEIR
USE THE MOVING THOSE
INVESTMENTS AROUND. I AND IS
THAT. THAT THE PRESS HAS
REPORTED ARE FOR PERSONAL GAIN
TO SUPPORT COMPANIES IN WHICH
THEY ARE OTHERWISE INVESTED
WERE TO MANIPULATE STOCK
PRICES. SO AGAIN WE THINK THAT
THESE ARE ANECDOTAL AND
EVIDENCE IT'S BEEN. BROUGHT UP
BY MANY MANY PEOPLE IN THE
PRESS AND THAT'S IS WHAT ONE OF
THE REASONS I THINK WHY WE'RE
STARTING WITH TRANSPARENCY.
RATHER THAN BRING IN SOMETHING
ELSE. REMEMBER ACT LIKE THE
AUTHOR OF TWO REASONS IN MY
EXPERIENCE OF. OF ALMOST
EIGHTEEN YEARS NOW AT THE- IN
THE COMMUNICATION FEEL- WE HAVE
A DOLLARS WHO COME TO US- WHO
WERE SORT OF MODERATE-
CALIFORNIANS INTENSIVE THEIR
FINANCIAL. STATUS WHO WANT TO
ESTABLISH A DONOR ADVISED FUND
BECAUSE THEY WANT TO GET BACK
TO THE COMMUNITY- BUT THEY
DON'T YET KNOW WHAT ISSUES THEY
WANT TO ACTUALLY FOCUS ON. AND
SO THEY WANT TIME- IN TERMS OF
A STEP IN THE FIGHT AND THEN
HAVING TIME ACSI TO EXPLORE THE
ISSUES THAT ARE MOST IMPORTANT
TO THEM THIS IS THE MOST
IMPORTANT TO THE COMMUNITY- SO
IT SOMETIMES DOES TAKE THEM
TIME TO DECIDE- THE KINDS OF
ORGANIZATIONS AND THE KINDS OF.
IT IS AN EFFORT THEY WANT TO
THEY WANT TO CONTRIBUTE TO IT
SO THAT'S ONE THE SECOND IS
THAT BECAUSE WE HAVE A SMALL
VESSEL FOR DON INVITE FUNDS BUT
YOU CAN PUT IT ON THE VICE FUND
AT THE SECOND FOUNDATION. FOR
TEN THOUSAND DOLLARS A MANY I'M
THEY WANT TO BUILD. SO THAT
THEY CAN HAVE THE MAXIMUM
IMPACT IN THE KEY THEY WANT TO
HAVE SO THAT MADE ME WANT TO
TAKE SOME TIME AT THE TO ADD TO
THAT AND OVER. TIME IN ORDER TO
BE ABLE TO MAXIMIZE IN THE END.
AND TRYING TO TRANSIT. HOUSE
WHEN I SAY THAT WE ARE ACTUALLY
HIGHLY RATHER REGULATED WE
REPORT QUITE A BIT OF
INFORMATION ON OUR NINE
NINETIES WE HAVE TO REPOT ON
IRAQ'S ATTORNEY GENERAL THAN
THE CALIFORNIA NONPROFIT
INTEGRITY ACT ACTUALLY PREVENTS
ANY SELF DEALING WE HAVE- QUITE
A BIT OF REGULATIONS THAT WE
HAVE TO FOLLOW SO EVEN AT THAT
IN TERMS OF INVESTMENTS THAT.
IT'S ILLEGAL TO DO WHAT AT WHAT
THE ACT OUT HIS SAD SO- THAT IS
SOMETHING THAT WE TAKE VERY
SERIOUSLY BECAUSE WE ARE PUBLIC
CHARITY AND REGISTERED- HURTS
TO A CUT LET'S INSIST. I KNOW
WE'RE TRYING TO ASK A THE FIRST
NAME IS KILEY AFTER A VERY
BROAD QUESTION YEAH SO MY
DILEMMA HERE IS GETTING ANSWERS
TO QUESTIONS YES AND THIS IS
ALL VERY INTERESTING AND IT'S
APPROPRIATE AND AVOIDING WHICH
IS. A MEN'S AND CAN YOU TEST
THEM UP SO. I CAN DO FIFTY
THANK YOU OKAY. WHEN A DONOR.
ANY TO ANY FEDERATION IT IS NOW
PART OF COMMITTEE FOUNDATION SO
THAT THE COMMITTEE FOUNDATION
OWNS THAT MONEY THE DONOR DOES
NO LONGER NO LONGER OWNS THAT
THEY GET THE TAX BENEFIT. AND
SO THEY ARE HIGHLY REGULATED
JUST LIKE COMMUNITY FOUNDATIONS
ARE. THEY DON'T HAVE CONTROL
THEY THEY CAN RECOMMEND AND
OFTEN MOST OFTEN IF THE
RECOMMENDATIONS MADE THE DUE
DILIGENCE COMMUNITY FOUNDATION.
IS A STRONGER DILIGENCE. THEN
THE MONEY WILL GO OUT IF THEY
IF THEY WANT TO GIVE MONEY TO
SAY- SUPPORT FOR. POLITICAL
CAMPAIGNS WHICH I'M SURE WOULD
BE VERY NOT WORTH IT AND. BUT I
CAN'T DO THAT YEAH THEY CAN'T
DO THAT I CAN'T ELECTION- SO
THERE'S CERTAIN RULES
REGULATIONS AROUND THAT AS WELL
AND- SPORTS ACTIVE FUNDS ONE
REAL. OF THIRTY SECULAR LIKE
WHEN YOU KNOW YOUR FIFTH. TIME
WE WOULD LOVE TO WORK ON ACTIVE
FUNDS POLICY RIGHT OKAY THANK
YOU A THAT WAS HELPFUL FROM
FROM BOTH SIDES I GUESS THAT.
THE WAY I SEE IT I MEAN HAT I
HEAR THE EXAMPLES OF ABUSE THAT
YOU. BRING UP OF COURSE THAT'S
A POTENTIAL THAT EXISTS ANY
FORM OF CHARITABLE GIVING AND
SO. WHAT I'M KIND OF LOOKING
FOR IS- HOW THIS PARTICULAR
VEHICLE CREATES UNIQUE
OPPORTUNITIES FOR ABUSE THAT
JUSTICE. IS THIS UNIQUE REMEDY
THAT HAS ALL THESE POTENTIALLY
NEGATIVE ON AND HER. ONCE I'M
JUST NOT SURE OF HER THAT. SO
SORRY GO AHEAD. HELLO GIVE A
QUICK TRY. THE INCENTIVES FOR-
LOCAL COMMUNITY FOUNDATIONS AND
THEN THE NATIONAL COMMERCIAL
FUNDS ARE VERY DIFFERENT RIGHT
LOCAL COMMUNITIES YOU LIVE IN A
COMMUNITY RESPONSIVE TO
COMMUNITY NEEDS DOORS ARE
USUALLY FOCUS ON A PARTICULAR
PLACE- WE DON'T KNOW THIS TO BE
THE CASE WITH THE COMMERCIAL
FUNDS BUT THEY MANAGE. BILLIONS
OF DOLLARS FOR. THEY SEE SOME
OPPORTUNITIES TO- SAY FOR TAX
REASONS RIGHT BENEFITS REASONS
LET'S MOVE SOME INTO A DONOR
ADVISED FUND WE CAN CONTINUE TO
MANAGE IT FOR YOU RIGHT AND
WHEN YOU'RE READY. YOU CAN GIVE
IT TO CHARITABLE CAUSES THAT
YOU CARE ABOUT BUT THE
INCENTIVES WITHIN THOSE
ORGANIZATIONS WE'RE NOT SURE.
ARE THE SAME AS COMMUNITY
FOUNDATION TO SAY I STE I'M
DRIVING BY MY COMMUNITIES EVERY
DAY AND I'M REALLY FEEL A NEED
TO IMPROVE MY LOCAL COMMUNITY I
MANAGING FUNDS. THE DONORS NOT
BOTHERING ME. RIGHT MAYBE I'M
NOT IN A HURRY TO GET THE MONEY
OUT OR TO HELP OF VICE THE
DONOR ON CHOOSING- FILL UP A
GOAL IN FACT. THAT THE FUNDS
PRIDE THEMSELVES IN BEING
AGNOSTIC NEUTRAL. THEY DON'T
VIEW IT AS WHAT WE HEARD OF YOU
AS THEIR TAPPED OWNERS YOU'RE
OUT WHAT THEY'RE FOR TOPICAL
STAR. SO THAT'S A CONCERT.
MISTER KALRA. THANK YOU AND WE
HAVE A LOT OF REALLY GOOD
PEOPLE AROUND THIS TABLE
THEY'RE ALL TRYING TO DO THE
RIGHT THING AND CLEAN THE
AUTHOR- AND SO I APPRECIATE-
BOTH THE COMPONENTS IN
OPPOSITION- I DO THINK THAT THE
THAT THAT IS AN ISSUE AND- I
THINK THE BILL. UP ARE NOT A-
CATCH ALL SOLUTION BUT I ALSO
THINK IT DOES AS INDICATED BY
OPPOSITION CREATE SOME MISSION
THEIR PERSPECTIVE I REALLY
APPRECIATE THE DIALOGUE THAT'S
ALREADY OCCURRED HAS BEEN
AMENDMENTS ALREADY BECAUSE OF
THAT DIALOGUE THIS IS THE FIRST
COMMITTEE AND SO AS AS AS- ARE
OPPOSITION IS INDICATED THERE
ARE STILL ALL YEARS AND WILLING
TO SIT DOWN AND HAVE THE
DIALOGUE WHICH I THINK IS A
REALLY IMPORTANT ESPECIALLY AT
THIS STAGE OF A WITH THE BILL
IS. AND YOU KNOW OF COURSE IS.
SELECT COMMITTEE FOUNDATION
THOUGH. THAT THEY DO EVERY DAY.
THIRTEEN APPRECIATED I DO THINK
ONE OF THE ISSUES AS A SUMMER
KILEY WAS INDICATING KIND OF
WHAT THE BUT WHAT IS THE
PROBLEM TRYING TO. WE'RE TRYING
TO SOLVE YOUR THE FACT. OF AS
MENTIONED THAT. FOLKS GET THE
MONEY AND THEY GET THE TAX.
BENEFIT IMMEDIATELY AND YET THE
MONEY DOESN'T ACTUALLY GO OUT
IMMEDIATELY. AND SO. THAT'S AN
ISSUE THAT MAYBE THE TRASH I
MEAN IF YOU GO OUT FOR THE TAX.
ISSUE THAT'S ACTUALLY A MUCH
PROBABLY BIGGER BILL IN TERMS
OF THE OPPOSITION BUT YOU MAY
BASED ON THAT. I THINK THE
TRANSPARENCY AND GETTING MORE
KNOWLEDGE AS TO WHAT'S
HAPPENING. IS PROBABLY A MUCH
MILDER FIRST APPROACH AS TO HOW
YOU DEAL WITH THE ISSUE OF
MONEY SITTING IDLE. AND DOGS I
GET THE TAX BENEFIT GET IT.
WHEN THEY GET A MILLION DOLLARS
STOCKS THEY GET THAT TAX BREAK.
THEY MAKE ABOUT THE MONEY. HAVE
YEARS LATER ON THAT STOCKS WITH
HALF A MILLION. AS THE
COMMUNITIES CITY SAME MAKE THE
SAME BENEFITS AS THE TIME TO
BREAK THAT WAS. GIVEN AT THE
TIME THAT WAS PUT INTO THE FUND
SO THERE ARE A LOT OF DIFFERENT
ANGLES. OF AND THAT THAT- THAT
WE CAN APPROACH THIS ISSUE AT.
BUT I THINK WE HAVE THE RIGHT
THE TABLE TO TRY TO FIGURE OUT
HOW TO. AND SO I APPRECIATE THE
CHAIR'S RECOMMENDATION THE WORK
OF THE OF THE COMMITTEE STAFF.
AS WELL AS THE AUTHOR AND
REALLY TRYING TO FIGURE OUT A
PATH FORWARD AND I'M CONFIDENT-
WITH THE PEOPLE. THAT WE HAVE
HERE IN THIS ROOM AND OTHERS
THAT HAVE EXPRESSED. CONCERN
AND SUPPORT- DOUBLE BILL TO GET
THAT DONE SO AS ONE EXPRESS MY
THOUGHTS ON. THANK YOU OTHER
QUESTIONS SUCH. I'M NOT GONNA
GO IT MISTER KALRA JUST SAID
BUT THE SENTIMENT IS ONE THAT I
WANT TO REITERATE WHICH IS- I
THINK EVERYONE INVOLVED IN THIS
CONVERSATION ON BOTH SIDES OF
THE SUPPORT OPPOSITION- REALLY
DO MEAN WELL AND WE'RE TRYING
TO. ACCOMPLISH THE SAME GOALS.
AND I'M VERY SYMPATHETIC TO THE
PICTURE THAT I THINK OF THE
PRESENT LEAGUE HAD LAID OUT ON-
SOME REASONS WHY. IN THESE
FUNDS THEY MAY NOT BE SOME
IMMEDIATE INVESTMENTS. THAT
BEING SAID YOU KNOW WE ALL KNOW
WHAT THE STORIES HAVE BEEN OF
OPPOSITE AND THAT'S WHAT WE'RE
TRYING TO. TO GRAPPLE WITH AND
SO A FEW THINGS I WANT TO SAY
YOU KNOW THIS IS NOT ABOUT
DEMONIZING THE LEADERSHIP OF
THE FOUNDATION WORLD I THINK
IT'S IMPORTANT FOR US TO STATE
THAT. BUT WE HAVE A STRUCTURE
THAT SET UP THAT. HE'D TO ABUSE
ARE WE THINK THERE HAVE BEEN
DOCUMENTED- OCCASIONS OF THAT
ABUSE AND FOR ME THE- THAT HAVE
HUNDREDS OF NONPROFIT
ORGANIZATIONS. THAT WE LINE
MAKING FOR THAT. DOES NOT. THAT
ARE IN THEIR NEEDS THANK. WE
DEALT WITH HERE IS WHAT YOU
NEED TO THINK WE NEED TO DO
SOMETHING I'M VERY MUCH
APPRECIATE THAT THE AUTHOR HAS
BEEN WILLING TO TAKE A MOMENT
AND ENGAGE IN CONVERSATIONS
AROUND AMENDMENTS THAT SOMEONE
IS CLOSE TO BOTH THE NONPROFITS
ON THE ONE SIDE BUT ALSO THE
PHILANTHROPIC COMMUNITY OTHER
I'VE OFFERED TO THE AUTHOR MORE
THAN HAPPY TO WORK WITH HER AND
OTHERS I THINK WE ALL ARE TO
FIGURE OUT THE RIGHT ANSWER
HERE BECAUSE- LONGEST PLOWED
REMAINS. IF THIS BILL DOES NOT
FORD DOESN'T TAKE AWAY THE FACT
THAT WE HAVE BILLIONAIRES WHO
ARE TELLING US THIS IS A TAX
LOOPHOLE AND WE HAVE FOLKS WHO
STARTED THIS VEHICLE METHOD WHO
HAVE SAID THERE'S A REAL
PROBLEM HERE SO- SO MY HOPE IS
WE CAN GET TO ANSWER WE STILL
HAVE A LITTLE BIT OF TIME- AND
THE REST OF THE YEAR SO- WITH
THAT TO. LOOK FORWARD TO
SUPPORTING THE TODAY CONTINUE
THE CONVERSATION. THANK YOU. SO
MUCH THANK YOU FOR WE SLOW THIS
DOWN FROM LAST YEAR BECAUSE OF
SOME OF THESE CONCERNS AND THE
AMENDMENTS OR SOMETHING THAT
WERE. VERY IMPORTANT TO ME.
BECAUSE I THINK THERE IS A
DIFFERENCE WHEN WE TALK ABOUT
THE SCALE AND THIS IS REALLY
WHAT WE TRIED TO DO. I WORK
VERY CLOSELY WITH MY LOCAL
COMMUNITY FOUNDATIONS AND
ANOTHER MANY AROUND THE STATE
AND I TRUST THEM. BECAUSE THEY
ARE GOVERNED BY LOCAL MEMBRANE.
AND BECAUSE OF THAT I THINK A
LOT OF THE CONCERNS ABOUT MONEY
NOT MOVE IT ABOUT. NOT MAKING
THE RIGHT INVESTMENTS IN THE
COMMUNITY ARE SOMEWHAT OUT OF
IT. I THINK THE MEMBERS OF THE
GOVERNANCE OF LOCAL COMMUNITY
FOUNDATIONS. AND SPECIALLY
THOSE THAT THAT I'M FAMILIAR
WITH. WOULD NOT STAND FOR THAT
RIGHT AND HAVE TO ANSWER
ULTIMATELY TO THE COMMUNITY. SO
TO ME THAT'S NOT WHAT THE
PROBLEM IS. AND IT SILICON
VALLEY WE WILL BE SET A
STANDARD TO TRY AND- AN EXAM
THESE LOCAL ESPECIALLY SMALLER.
THAT IT IS BECAUSE OF THAT
LEVEL OF GOVERNANCE SO I DON'T
THINK WITH WILL SEE THAT THE
CHALLENGES THAT. THAT THIS BILL
BRINGS UP IN. AND I THINK THOSE
ARE SIGNIFICANT IF THE TAX LAW
HAS CREATED THIS LOOPHOLE FOR.
FOR WEALTHY PEOPLE TO PARK
MONEY. IN THE NAME OF BENEFITS
COMMUNITY AND NOT PROVIDING
THAT BENEFITS THE COMMUNITY
THAT IS SOMETHING WE SHOULD ALL
BE CONCERNED ABOUT. SO THE
LEVEL OF TRYING TO FIND. THE
RIGHT MECHANISM HERE TO BUILD
IN TRANSPARENCY TO WHAT IS
HAPPENING. AND THEN SEE WHAT
OTHER STEPS MIGHT BE TAKEN I
THINK IS ABSOLUTELY LAUDABLE
AND THAT'S THE GOAL HERE. THERE
ARE SOME LARGER FOUNDATIONS AND
SILICON VALLEY IT AND OTHERS
THAT ARE. THAT ARE BIG ENOUGH
AND SO WE SET THAT NUMBER TO
TRY ANY CAPSULE EIGHT. THE
LION'S SHARE OF THE COMMUNITY
FOUNDATIONS BECAUSE I GET THOSE
ARGUMENTS IT'S I DON'T KNOW
THAT THEY THEY NEED TO BE SWEPT
UP IN THIS. THE LARGER THE
COMMERCIAL FUNDS YEAH I THINK
THAT'S VERY MUCH A LEGITIMATE
QUESTION. QUESTIONS OF PRIVACY.
ABSOLUTELY REMAIN IN THIS
LEGISLATURE IS VERY SENSITIVE
TO. PRIVACY WE OF LONG FOUGHT
THOSE. PRIVACY CONCERNS TRYING
TO CREATE. GIVE CALIFORNIANS
CONFIDENCE IN THE DECISIONS
THAT THEY MAY BUT THERE ARE
SOME UNIQUE ATTRIBUTES OF THE
WAY. CERTAIN INDIVIDUALS AND
THAT WEALTH AND- OR- COULD BE
IDENTIFIED. THAT VERSUS THE-
THE GOALS WERE TRYING TO
ACCOMPLISH HERE AT THE
MISERABLE IS RIGHT TO THE THOSE
ARE THINGS WE HAVE TO BALANCE.
AND WE'RE NOT GOING TO BE ABLE
TO IN THIS OR OTHERS GET
EVERYTHING ABSOLUTELY PERFECT.
BUT I THINK THIS UNDERLYING
NEED TO FIND THE INFORMATION.
FIGURE OUT WHAT IS GOING ON.
AND IT ARE THERE THEN FURTHER
STEPS WE NEED TO TAKE MAYBE
MAYBE NOT I DON'T THINK THAT'S
BEEN SETTLED YET AT THIS POINT.
BUT WE NEED THAT INFORMATION
AND GIVING. THAT WHAT WE DO
KNOW ABOUT AT LEAST AT THE
LARGEST LEVEL AND WHAT'S AT
STAKE THERE ARE SOME CONCERNS
TO BE ABLE TO RAISE THAT THAT'S
KIND OF WHAT. THE GIVE AND TAKE
WAS THROUGH THE FALL AND- THE
NUMBER OF MEETINGS THAT STAFF
YOUR STAFF PEOPLE AROUND THE
TABLE HAVE. HAVE BEEN TO TRY
AND SORT THIS OUT THAT THAT'LL
TIMIDLY. GOALS SO I DO
UNDERSTAND WHY THE COMMUNITY
FOUNDATION LEAGUE IS OPPOSED TO
IT AT THAT THIS SETS AND A
LITTLE BIT CONCERNED. BY WE TRY
TO DEAL WITH SOME OF THAT. NOT
ALL OF IT BUT MOST OF IT.
BECAUSE OF THE NATURE OF WHAT
COMMUNITY FOUNDATIONS DO WHEN
AND WHAT THEY REPRESENT. SO
FROM THIS COMMITTEE STANDPOINT
I THINK WE'VE COME TO A POINT
WHERE I THINK IT'S WORTHY OF
PASSING THIS THROUGH AND I HOPE
WE DO PASSES THROUGH AT THIS
POINT. THE JOB APPROPRIATIONS
MS WAKES YOU UP THE FLOOR SWEPT
THE SENATE WHERE A LOT OF THESE
QUESTIONS ARE GOING TO STILL
COME UP AND HAVE WE CREATED THE
RIGHT BALANCE HERE. I THINK FOR
THIS COMMITTEE YES BUT IN THE
LONG RUN I THINK WE HAVE A LOT
TO LEARN ABOUT BUT I DO WANT TO
MAKE SURE THAT WE ARE. TEXTING
THE LOCAL SMALLER ONES WHO ARE
MAKING THOSE INVESTMENTS AND
ARE MAKING THOSE INVESTMENTS.
LOCALLY AND NOT NECESSARILY
CARRYING MONEY FOR. OUT OF
STATE OUT OF COUNTRY KINDS OF
INVESTMENTS BECAUSE- THOSE
THEN. I THINK RAISE THE
QUESTION YET AGAIN. ABOUT THE
PROPRIETY OF HOW THESE
INVESTMENTS ARE OR ARE NOT
BEING MADE YEAH SO YOU'VE
RAISED. A DIFFICULT ISSUE AN
INTERESTING ISSUE YES. AND
UNFORTUNATELY ONE THAT. I THINK
THE PROBLEM IS WELL
ARTICULATED. BUT THE FAX AROUND
IT ARE NOT NECESSARILY RIGHT
AND THAT'S WHAT. THE DEAL THE
WERE CRAFTING SOMETHING THAT
CAN GO TO DISCOVER THOSE FACTS
AND FIGURE OUT WHAT WE NEED TO
DO. APPRECIATE THE WORK AND
WITHOUT YOU MAY CALL. AT THANK
YOU FOR. WITH EVERYTHING YOU
JUST SAID. AND AS PARTICULARLY-
AND I APPRECIATE LIMóN. ONE
THE SPONSOR THE FOLKS THAT HAVE
AVENUE RISK RECESSIONS. AND THE
OPPOSITION AS WELL AND I'M
COMMITTED TO CONTINUE TO HAVE
THIS CONVERSATION. WE THINK WE
ARE ALL IN A LINE IDEOLOGICALLY
ON ALL THE WORK THAT WE DO.
COMMUNITY FOUNDATIONS ALL THE
TIME- AND VALUE THEIR WORK SOME
COMMITTED TO THAT AND ALSO
WORKING WITH MEMBERS WHO'VE
EXPRESSED INTEREST FROM THE
DíAS. AND ALSO JUST WANT TO
THANK. YOU MISTER CHAIRMAN FOR
YOUR THOUGHTFULNESS ON THE BILL
I THINK IT WAS RIGHT TO HOLD IT
TO HAVE THESE CONVERSATIONS AND
ALSO COMMITTEE STAFF HAS SPENT
A LOT OF TIME ON IT AS WELL SO-
I'M MAKING ALL THIS MEN'S
PUBLICLY. WOULD LOVE TO SEE
THAT BILL MOVE FORWARD- UNDER
THAT A PRETENSE AND WOULD
RESPECTFULLY ASK FOR AN AYE
VOTE. THANK YOU SO WE DO HAVE A
MOTION A SECOND THAT MOTION IS
TO PASS TO APPROPRIATIONS COLOR
OPENS. STONE BY STONE AYE
GALLAGHER CHAO CHU CHU AYE
GONZALEZ AND THOSE AYE HOLDEN
HOLDEN AYE KALRA AYE KALRA AYE
KILEY. KILEY NO MAIENSCHEIN.
OBERNOLTE OBERNOLTE NOW REYES
REYES I. THE BILL IS OUT THANK
YOU THANK YOU VERY MUCH ALL
RIGHT THAT CONCLUDES OUR
BUSINESS FOR TODAY WE'RE GONNA
GO BACK THROUGH THE LIST WE
HAVE A COUPLE OF FIFTY THREE
MEMBERS WHO ARE NOT ABSENT AT
ASK THEM TO COME BACK TO ADD ON
IF THEY ARE SO QUIET TO SEE AND
SO FOR THOSE WHO VOTED
EVERYTHING THANK YOU FOR THOSE
WHO HAVEN'T STICK AROUND LET'S
GO THROUGH. THAT LIST OF BILLS.
OKAY SO WE'LL START WITH
CONSERVE. SO WE CAN HAVE A
QUIET PLEASE SO THAT WE CAN
FINISH OUR BUSINESS. COULD YOU
PLEASE TAKE YOUR CONVERSATIONS
OUTSIDE. ALL RIGHT CONSENT OF
THE AUTHOR MEMBERS. SO THAT'S
AB THREE TWENTY FIVE RAMOS
GALLAGHER. CHAO TO HI CHU I.
THANK YOU ITEM NUMBER TWO
EIGHTY SIX EIGHTY SEVEN DAILY.
CALL THE OF THE MEMBERS
GALLAGHER. TWO BY TWO BY KALRA
KALRA AYE KILEY. SORRY THIS IS
THAT. I'D DALY. KILEY AYE. ITEM
NUMBER THREE A. B. SIXTEEN
TWENTY SEVEN RIVAS. GALLAGHER
CHOW CHOW HI TO CHU I. ITEM
NUMBER FOUR AB SEVENTEEN TWELVE
WICKS I THINK WE'VE GOT A
MESSAGE CHAU KILEY OF THE
MEMBERS. GALLAGHER WELL CHILD
BY MAIENSCHEIN. OKAY THANK YOU
ITEM NUMBER FIVE HR SIXTEEN AYE
LOW MOAN CALL THE UP THE
MEMBERS CHAO. CHAO HI GONZALEZ.
TO CHU I. THANK YOU. AND I
THINK. WE HAVE. SO ON CONSENT
MISTER CHAU. CHAO I. TO OKAY.
MHM. SO THE ONLY GAPS WE HAVE
OUR MISTER MAIENSCHEIN TO
MISTER GALLAGHER
. SOMEONE HOLD
THE ROLE OPEN FOR A LITTLE
BATES MISCALCULATED STAND IS
PRESENTING A BILL. AND SEE IF
HE HAS THE OPPORTUNITY COME
BACK
. RIGHT LET'S SAID GO
THROUGH THE ROLE ONE MORE TIME.
SO ON CONSENT. WHICH IS AB
THREE TWENTY FIVE FOR ALMOST
SCULLY UP THE MEMBERS.
GALLAGHER AYE GALLAGHER AYE.
ITEM NUMBER TWO EIGHTY SIX
EIGHTY SEVEN DALY. GALLAGHER HI
GALLAGHER I. ITEM THREE A. B.
SIXTEEN TWENTY SEVEN RIVAS.
GALLAGHER NOW GALLAGHER NOW.
ITEM FOR AB SEVENTEEN TWELVE
WEEKS GALLAGHER HI GALLAGHER I.
A WE HAVE MONEY. OKAY GREAT
WITH THAT WE ARE ADJOURNED