In Review: Senate Bill 316 (spread pricing, fiduciary) passed the Senate last week and was passed out of the Assembly Commerce and Labor Committee on Saturday. While the section on delinking was removed prior to the Senate passing the bill, there was still a related issue because of the definition of fees. The Committee and Labor Committee agreed to our language amending the definition of fees and advanced the bill to the Assembly floor, waiving the rule on needing to go to Ways and Means. However, when the bill went to the Assembly floor, the amendment we had gotten in at the Committee hearing was taken out.

Up Next: The legislature adjourns today, Monday, and we are working to reinstate it in our amendment. Failing that, we will be requesting a veto from Governor Joe Lombardo (R).

If you have any questions, please contact Bill Head at bhead@pcmanet.org.