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Committee votes to report bill easing trust requirement for prearranged funeral services
Summary
The Consumer Protection & Business Committee voted Jan. 21 to report House Bill 1005 out of committee with a due‑pass recommendation. The bill lowers the trust percentage for prearranged funeral service contracts from 90% to 80% and exempts certain merchandise and transportation agreements.
The Consumer Protection & Business Committee on Jan. 21 voted to report House Bill 1005 out of committee with a due‑pass recommendation.
Committee staff summarized HB 1005 as a measure that exempts certain funeral merchandise and transportation protection agreements from prearranged funeral service contract trust requirements and lowers the percentage of proceeds that must be held in trust from 90% to 80%. Representative Ryu, who spoke in support during executive action, said the 20% not required to be held in trust is intended to cover businesses’ staffing and operating costs so funeral providers remain viable.
Representative David Hackney moved the bill out of committee; the motion was seconded and carried by voice vote. With 15 members present, the committee recorded 15 members voting in the affirmative. Committee members offered brief remarks in support and the standing committee report form reflected the unanimous recommendation to pass the bill out of committee with a due‑pass recommendation.
The committee then proceeded to other bills on its agenda.
