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Legislative Update with Jay Kruse By Jay Kruse, Chief Advocacy Officer Good Morning! I hope everyone is in where it’s warm, with a hot cup of coffee this morning! The final days for the introductions of bills has passed and week eight of South Dakota legislative session is underway. Legislators put in their only five-day week of sessions last week, which gave them extra time to submit any last-minute bills and resolutions ahead of the bill introduction deadline. This session a grand total of 477 bill and 32 resolutions/commemorations were introduced between both chambers: 283 bills and 15 resolutions/commemorations in the House and 194 bills and 17 resolutions/commemorations in the Senate. We are currently tracking numerous bills, but I want to draw your attention to these priority bills this week, some of which will receive committee hearings. Priority Bills: HB 1015 – Would grant authority to the Department of Labor to create an “appraiser experience training program” under which licensees may obtain requisite experience hours, passed through the House and will next receive a hearing in the Senate Commerce and Energy Committee. We believe this legislation will help new appraisers enter the profession and expand the availability of appraisers across the state. This has passed the House and is on to the Senate Commerce and Energy TBD. HB 1046 – Limit Liability for certain exposures to COVID-19. This bill has passed the House and Senate Judiciary Committee. It will next receive a full vote on the Senate floor at a date TBD. HB 1091 – Adds a new section to the SD "Property" statutes addressing virtual currency and the perfection of security interests in digital assets as well as custodial serviced provided by banks. House Commerce and Energy Committee hearing TBD. SB 193 – This legislation would allow notarial officer in this state, while located in this state, to perform a notarial act executed on a tangible document by a person not in the physical presence of the notarial officer but observed by the notarial officer through means of video communication technology. We are working with the bill sponsor to add a small amendment to the bill that would specifically include federally regulated credit unions in the list of businesses that have “personal knowledge” of those they serve. We believe this will help avoid any confusion in the way the rule is interpreted. Senate Judiciary Committee hearing scheduled for February 11, 2021 at 8:00 a.m. You can find a full list the SD GAC is tracking including details on all the bills on our website: www.dakcu.org/bill-tracking. As always, feel free to contact me with any questions or comments.
Legislative Update with Jay Kruse
By Jay Kruse, Chief Advocacy Officer
Good Morning!
I hope everyone is in where it’s warm, with a hot cup of coffee this morning!
The final days for the introductions of bills has passed and week eight of South Dakota legislative session is underway. Legislators put in their only five-day week of sessions last week, which gave them extra time to submit any last-minute bills and resolutions ahead of the bill introduction deadline. This session a grand total of 477 bill and 32 resolutions/commemorations were introduced between both chambers: 283 bills and 15 resolutions/commemorations in the House and 194 bills and 17 resolutions/commemorations in the Senate.
We are currently tracking numerous bills, but I want to draw your attention to these priority bills this week, some of which will receive committee hearings.
Priority Bills:
HB 1015 – Would grant authority to the Department of Labor to create an “appraiser experience training program” under which licensees may obtain requisite experience hours, passed through the House and will next receive a hearing in the Senate Commerce and Energy Committee. We believe this legislation will help new appraisers enter the profession and expand the availability of appraisers across the state. This has passed the House and is on to the Senate Commerce and Energy TBD.
HB 1046 – Limit Liability for certain exposures to COVID-19. This bill has passed the House and Senate Judiciary Committee. It will next receive a full vote on the Senate floor at a date TBD.
HB 1091 – Adds a new section to the SD "Property" statutes addressing virtual currency and the perfection of security interests in digital assets as well as custodial serviced provided by banks. House Commerce and Energy Committee hearing TBD.
SB 193 – This legislation would allow notarial officer in this state, while located in this state, to perform a notarial act executed on a tangible document by a person not in the physical presence of the notarial officer but observed by the notarial officer through means of video communication technology. We are working with the bill sponsor to add a small amendment to the bill that would specifically include federally regulated credit unions in the list of businesses that have “personal knowledge” of those they serve. We believe this will help avoid any confusion in the way the rule is interpreted. Senate Judiciary Committee hearing scheduled for February 11, 2021 at 8:00 a.m.
You can find a full list the SD GAC is tracking including details on all the bills on our website: www.dakcu.org/bill-tracking.
As always, feel free to contact me with any questions or comments.