| Vote Recommendation | Economic Freedom | Property Rights | Personal Responsibility | Limited Government | Individual Liberty |
|---|---|---|---|---|---|
| Neutral | Neutral | Neutral | Neutral | Neutral | Neutral |
Relating to eligibility
requirements to act as a financial adviser or investment adviser in relation to
certain public securities.
No significant fiscal implication to the State is anticipated.
HB 3132 would add a new requirement for a person to be
eligible to be a financial advisor or an investment adviser. The person would
now have to be registered with the United States Securities and Exchange Commission
as a municipal advisor.
The Senate committee did not make changes to the House
version of this legislation.
Senate chamber sponsor: Birdwell
We usually oppose any legislation that increases eligibility
requirements to work in a certain field, because these increased standards only
serve as a barrier to obtaining a job. However, this legislation aims at
bringing state law in line with federal regulations. For this reason, we stand
neutral on HB 3132 as a primarily procedural bill.