MINUTES OF THE
SENATE BUSINESS AND LABOR STANDING COMMITTEE
Friday, February 24, 2023 • 9:00 a.m. • 220 Senate Building


Members Present:
Sen. Curtis S. Bramble, Chair
Sen. Nate Blouin
Sen. Kirk A. Cullimore
Sen. Don L. Ipson
Sen. Karen Kwan
Sen. Daniel McCay
Sen. Scott D. Sandall

Members Absent:
Sen. Todd D. Weiler

Staff Present:
Adam J. Sweet, Policy Analyst
Nancy Skidmore, Committee Secretary

Note: A copy of related materials and an audio recording of the meeting can be found at www.le.utah.gov.
Chair Bramble called the meeting to order at 9:17 a.m.
MOTION:Sen. Blouin moved to approve the minutes of the February 22, 2023, meeting.The motion passed with a vote of 5-0-3.
Yeas - 5Nays- 0Abs- 3
Sen. N. Blouin
Sen. C. Bramble
Sen. K. Cullimore
Sen. D. Ipson
Sen. K. Kwan
Sen. D. McCay
Sen. S. Sandall
Sen. T. Weiler
1.S.C.R. 9 Concurrent Resolution Opposing Efforts to Weaken the Economy or Restrict Energy Supply (Wilson, C.)
Sen. Wilson presented the bill with the assistance of Marlo Oaks, Utah State Treasurer.
MOTION:Sen. McCay moved to amend S.C.R. 9 with Amendment #1.The motion passed with a vote of 7-0-1.
Amendment 1
S.C.R. 009
1 .        Page 3, Lines 88 through 89 :  Page 3, Lines 88 through 89
88                 WHEREAS, the state treasurer is responsible for overseeing the management of the
89         state's financial resources and assets, including { the state's pension funds and other } investment

2 .        Page 4, Lines 93 through 96 :  Page 4, Lines 93 through 96
93                 NOW, THEREFORE, BE IT RESOLVED that the Legislature of the state of Utah, the
94         Governor concurring therein, take immediate action and direct that { state pensions and other }
95         investment funds should be managed by investment managers with a commitment to focus
96         solely on financial interests.

Yeas - 7Nays- 0Abs- 1
Sen. N. Blouin
Sen. C. Bramble
Sen. K. Cullimore
Sen. D. Ipson
Sen. K. Kwan
Sen. D. McCay
Sen. S. Sandall
Sen. T. Weiler
MOTION:Sen. Sandall moved to pass S.C.R. 9 out favorably.The motion passed with a vote of 5-2-1.
Yeas - 5Nays- 2Abs- 1
Sen. C. Bramble
Sen. K. Cullimore
Sen. D. Ipson
Sen. D. McCay
Sen. S. Sandall
Sen. N. Blouin
Sen. K. Kwan
Sen. T. Weiler
2.1st Sub. H.B. 410 Insurance Amendments (Dunnigan, J.)
MOTION:Sen. Kwan moved to replace 1st Substitute H.B. 410 with 2nd Substitute H.B. 410.The motion passed with a vote of 6-0-2.
Yeas - 6Nays- 0Abs- 2
Sen. N. Blouin
Sen. C. Bramble
Sen. K. Cullimore
Sen. D. Ipson
Sen. K. Kwan
Sen. D. McCay
Sen. S. Sandall
Sen. T. Weiler
Rep. Dunnigan presented the bill with the assistance of Jon Pike, Commissioner, Insurance Department.
MOTION:Sen. Blouin moved to pass 2nd Substitute H.B. 410 out favorably.The motion passed with a vote of 5-1-2.
Yeas - 5Nays- 1Abs- 2
Sen. N. Blouin
Sen. C. Bramble
Sen. K. Cullimore
Sen. D. Ipson
Sen. K. Kwan
Sen. D. McCay
Sen. S. Sandall
Sen. T. Weiler
MOTION:Sen. McCay moved to adjourn.The motion passed with a vote of 6-0-2.
Yeas - 6Nays- 0Abs- 2
Sen. N. Blouin
Sen. C. Bramble
Sen. K. Cullimore
Sen. D. Ipson
Sen. K. Kwan
Sen. D. McCay
Sen. S. Sandall
Sen. T. Weiler
Chair Bramble adjourned the meeting. at 9:50 a.m.