Latest news with #SB29
Yahoo
03-06-2025
- General
- Yahoo
Ohio bill that would require free feminine hygiene products in prisons moves forward
COLUMBUS, Ohio (WCMH) – A bill that would require Ohio prisons to offer incarcerated women free feminine hygiene products has taken a step toward becoming law. The Ohio House unanimously passed House Bill 29 on Wednesday, which would require all jails and prisons in the state that house women to provide an 'adequate supply' of free pads and tampons in a 'variety of sizes.' The bipartisan legislation, sponsored by Reps. Latyna Humphrey (D-Columbus) and Marilyn John (R-Richland County), would also require facilities to allow at least one shower a day for inmates who are menstruating. Under the bill, correctional institutions could not deny an inmate feminine hygiene products and would have to implement formal policies surrounding the distribution of the products. Before passing the House, the bill went through four hearings where 13 people testified in its support, with nobody publicly opposing it. Zachary Miller with the Office of the Public Defender spoke at an April hearing, stating that feminine hygiene products are not a luxury but a necessary healthcare item. 'Scarcity of these products could cause the women to use the products for longer than recommended, leading to negative health outcomes or encourage them to barter for these products, opening the door for potential abuses of power,' Miller said. Multiple former female inmates also testified at the hearings, many of which shared stories of facing limited access to sanitary products and resorting to using socks, toilet paper or other items as makeshift pads and tampons. Some recalled negative health outcomes as a result of a lack of readily available products. Currently, there is no Ohio law requiring jails and prisons to provide feminine hygiene products. In 2022, the Ohio Department of Rehabilitation and Correction issued a policy to ensure women receive free and unlimited feminine hygiene products. However, during testimony, multiple people claimed access is not always reliable, and Humphrey pointed out that the policy could be rescinded. There are an estimated 3,000 to 4,000 women incarcerated in Ohio, according to Miller. The department of rehabilitation and correction oversees all 28 prisons in the state but does not operate jails. Last year, the state department spent about $173,500 on feminine products in prisons, according to an analysis of the bill. 'While the Ohio Department of Rehabilitation and Corrections currently has a policy that requires these products to be provided to the women under its care at no cost, there are other correctional facilities in Ohio where access is not guaranteed,' Miller said. Humphrey introduced a similar bill in the last legislative session that passed the House unanimously but stalled in the Senate. The former bill also did not receive any opponent testimony. SB 29 will now move to the Senate for consideration. If the bill is signed into law, Ohio will join 25 other states that have statutes requiring free feminine hygiene products for incarcerated women. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
14-05-2025
- Business
- Yahoo
Nasdaq Applauds Signing of Senate Bill 29, Strengthening Texas' Standing as a National Leader in Corporate Governance and Innovation
AUSTIN, Texas, May 14, 2025 (GLOBE NEWSWIRE) -- Today, Nasdaq issued a statement in support of Texas Senate Bill 29 after Governor Abbott signed the bill into law. This legislation, which codifies the Business Judgment Rule and promotes predictability in corporate governance litigation, enhances Texas' competitiveness as a jurisdiction for incorporation and business growth. Nasdaq's Executive Vice Chairman Ed Knight joined Governor Abbott, leadership from the Texas legislature, and other Texas business community leaders for the signing ceremony. 'Senate Bill 29 is a milestone for corporate governance in Texas. By embracing smart, innovation-focused regulation like SB 29, Texas is showing the world what it means to lead on economic growth and modern, clear governance principles,' said Ed Knight, Executive Vice Chairman of Nasdaq. 'We commend Senator Bryan Hughes, Representative Morgan Meyer, and Governor Greg Abbott for advancing legislation that strengthens Texas' position as a global center for capital formation.' Texas has become a national model for innovation-driven policy that balances economic growth with investor confidence. The passage of SB 29 aligns with Nasdaq's mission to promote fair, efficient, and accessible capital markets, and reinforces Texas as a destination for corporate formation and public company investment. Nasdaq has a longstanding history of advocating for clients by minimizing the complexity associated with navigating the public markets. Its efforts for corporate issuers encompass addressing issues such as the SEC's proposed climate disclosure rules, cyber disclosure rules, proxy advisory reform, AI regulation, PCAOB reforms, and emerging growth company timelines. 'At Nasdaq, we are honored to have been part of the Texas community for nearly two decades' said Rachel Racz, Senior Vice President, Head of Listings for Texas, Southern U.S. and Latin America at Nasdaq. 'We remain committed to advocating for our clients on both a federal and local level and supporting the bold Texas leadership that continues to power our state's dynamic economy.' Nasdaq's presence in Texas continues to expand. The company recently announced the opening of a new regional headquarters in Dallas, serving as a Southeast hub and convening space for its Texas-based clients. Nasdaq currently is home to over 200 listed companies headquartered in the state and generates over $750 million in revenues in Texas and the Southeast region of the U.S., partnering with over 2,000 clients, approximately 800 of which are based in Texas. About Nasdaq Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at Nasdaq Media Contact Michelle Mendiola(646) Chris Hayden(301) Cautionary Note Regarding Forward-Looking Statements Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to, information regarding our regional presence. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These factors include, but are not limited to, Nasdaq's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in Nasdaq's filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq's investor relations website at and the SEC's website at Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-05-2025
- Business
- Yahoo
Texas is on the verge of handing Tesla and other big businesses a major win
Texas lawmakers have passed bills to reduce the influence of small shareholders. Backers say the bills will attract companies, while critics call it a power grab by corporate insiders. Lawmakers say ExxonMobil's board shake-up and Elon Musk's pay lawsuit inspired the legislation. As Delaware rebukes Elon Musk over his pay package, Texas is now offering corporate America a path to sidestep legal challenges by most of its shareholders. Over the past two months, lawmakers have pushed through a pair of bills they say will bring more businesses to the Lone Star state. Senate Bill 29 would make it harder for shareholders to sue companies, while Senate Bill 1057 would raise the bar for bringing resolutions at annual meetings. SB 29 would apply to many big companies incorporated in Texas, like Tesla and Southwest Airlines. SB 1057 could apply to businesses that are merely headquartered in Texas, like AT&T and Waste Management, even if they're legally registered elsewhere. They have moved quickly with virtually no organized opposition, with both proposals now awaiting Governor Greg Abbott's signature. His office told Business Insider he wants to strengthen businesses and would "review any proposal" lawmakers send to his desk. He has previously signaled that he would sign SB 29. Chris Babcock, a Dallas-based lawyer who helped draft SB 29, told Business Insider that a wide array of businesses and experts shaped the bill, which he views as balanced. Sen. Bryan Hughes, a Republican and a major backer of SB 1057, said it was meant to stop politicized attacks on Texas businesses. Critics, meanwhile, said the bills could gut minority shareholder rights and make Texas a haven for corporate officers like Elon Musk, who have unusually large ownership stakes and influence over their businesses. "There's a famous quote from John Dingell, the former Michigan congressman, who said, 'If you write the substance and you let me write the procedure, I'll screw you every time.' That's exactly what's happening here," said Joel Fleming, a lawyer who represents investors in governance disputes. In other words, Texas isn't changing the standards corporate boards are held to, Fleming believes — but would make it very hard for regular shareholders to hold them accountable if they break the rules. If publicly traded companies opt in, SB 29 would give boards of directors significantly more legal protection and make it more difficult for investors to sue directors, effectively preventing high-profile shareholder lawsuits like the one that saw a Delaware judge strike down Musk's pay package. Babcock called the Tesla case, which is currently on appeal, an "accelerator." Other decisions by the state's chancery court involving the companies Moelis and Activision "challenged longstanding corporate practices," he said, and also drove discussions. "How can you have confidence in Delaware judges?" said Eric Lentell, the top lawyer at Archer Aviation, who testified in favor of SB 29 and whose company is being sued in Delaware. "A shareholder vote was essentially ignored" when Tesla investors tried to ratify Musk's compensation, he said. Musk and Tesla did not respond to requests for comment. SB 1057, meanwhile, would raise the bar for shareholder resolutions. It would require shareholders to own a 3% stake or $1 million in stock and to gather support from holders of two-thirds of the company's shares before submitting a proposal. James McRitchie, a small investor from California who opposes the bill, said Texas is "leading the race to the bottom." He said soliciting support from other investors could cost millions at a company like Tesla and deter all but the wealthiest investors. Sen. Hughes cited the small hedge fund Engine No. 1's successful campaign to reshape Exxon's board of directors in 2021 as an influence, though SB 1057 doesn't apply to director nominations. A spokesman for Engine No. 1 declined to comment. AT&T and Nasdaq registered support for SB 29. The Texas Stock Exchange, a startup trying to woo listings away from New York, backed both bills. Another bill that isn't as far along, SB 2337, targets certain recommendations from proxy advisors. Hughes said companies like ISS and Glass Lewis have recommended that institutional investors vote their shares for environmental and diversity-motivated reasons that may not actually increase the value of their shares. ISS and Glass Lewis didn't respond to requests for comment. Hughes said SB 29 builds on last year's creation of a specialized Texas business court. He referred to the bill as "Dexit" at a hearing, a nod to companies like Tesla and TripAdvisor moving out of Delaware. Delaware's defenders say its laws are applied predictably and its courts are run by expert judges who are neither pro-management nor pro-shareholder. "We think we're putting the last pieces together to make Texas an attractive place for doing business," Hughes said. Brian Quinn, a law professor at Boston University, said the bills give corporate managers too much power for investors to be comfortable. He said they would turn Texas into a "rogues' gallery" like Nevada, which has been criticized over its lax, pro-management corporate laws. "Texas isn't competing with Delaware," said Quinn. "Texas is competing with Nevada." Babcock said Texas would still have stricter shareholder oversight than Nevada, noting that Texas directors must remain loyal to companies and can be more easily removed by shareholders. Glenn Hamer, who leads the Texas Association of Businesses, said at a hearing in March that "Delaware has blown it." "We have the best economy in the galaxy," he said. "If you have an internal issue, are you going to be better treated in Delaware or are you going to be better treated in a state that has become the economic engine of the United States of America?" Have a tip? Contact this reporter via Signal at 314-971-1627 or email at jnewsham@ Use a personal email address and a nonwork device; here's our guide to sharing information securely. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
09-05-2025
- Business
- Business Insider
Texas is on the verge of handing Tesla and other big businesses a major win
As Delaware rebukes Elon Musk over his pay package, Texas is now offering corporate America a path to sidestep legal challenges by most of its shareholders. Over the past two months, lawmakers have pushed through a pair of bills they say will bring more businesses to the Lone Star state. Senate Bill 29 would make it harder for shareholders to sue companies, while Senate Bill 1057 would raise the bar for bringing resolutions at annual meetings. SB 29 would apply to many big companies incorporated in Texas, like Tesla and Southwest Airlines. SB 1057 could apply to businesses that are merely headquartered in Texas, like AT&T and Waste Management, even if they're legally registered elsewhere. They have moved quickly with virtually no organized opposition, with both proposals now awaiting Governor Greg Abbott's signature. His office told Business Insider he wants to strengthen businesses and would "review any proposal" lawmakers send to his desk. He has previously signaled that he would sign SB 29. Chris Babcock, a Dallas-based lawyer who helped draft SB 29, told Business Insider that a wide array of businesses and experts shaped the bill, which he views as balanced. Sen. Bryan Hughes, a Republican and a major backer of SB 1057, said it was meant to stop politicized attacks on Texas businesses. Critics, meanwhile, said the bills could gut minority shareholder rights and make Texas a haven for corporate officers like Elon Musk, who have unusually large ownership stakes and influence over their businesses. "There's a famous quote from John Dingell, the former Michigan congressman, who said, 'If you write the substance and you let me write the procedure, I'll screw you every time.' That's exactly what's happening here," said Joel Fleming, a lawyer who represents investors in governance disputes. In other words, Texas isn't changing the standards corporate boards are held to, Fleming believes — but would make it very hard for regular shareholders to hold them accountable if they break the rules. Texas lends a hand to corporate managers If publicly traded companies opt in, SB 29 would give boards of directors significantly more legal protection and make it more difficult for investors to sue directors, effectively preventing high-profile shareholder lawsuits like the one that saw a Delaware judge strike down Musk's pay package. Babcock called the Tesla case, which is currently on appeal, an "accelerator." Other decisions by the state's chancery court involving the companies Moelis and Activision "challenged longstanding corporate practices," he said, and also drove discussions. "How can you have confidence in Delaware judges?" said Eric Lentell, the top lawyer at Archer Aviation, who testified in favor of SB 29 and whose company is being sued in Delaware. "A shareholder vote was essentially ignored" when Tesla investors tried to ratify Musk's compensation, he said. Musk and Tesla did not respond to requests for comment. SB 1057, meanwhile, would raise the bar for shareholder resolutions. It would require shareholders to own a 3% stake or $1 million in stock and to gather support from holders of two-thirds of the company's shares before submitting a proposal. James McRitchie, a small investor from California who opposes the bill, said Texas is "leading the race to the bottom." He said soliciting support from other investors could cost millions at a company like Tesla and deter all but the wealthiest investors. Sen. Hughes cited the small hedge fund Engine No. 1's successful campaign to reshape Exxon's board of directors in 2021 as an influence, though SB 1057 doesn't apply to director nominations. A spokesman for Engine No. 1 declined to comment. AT&T and Nasdaq registered support for SB 29. The Texas Stock Exchange, a startup trying to woo listings away from New York, backed both bills. Another bill that isn't as far along, SB 2337, targets certain recommendations from proxy advisors. Hughes said companies like ISS and Glass Lewis have recommended that institutional investors vote their shares for environmental and diversity-motivated reasons that may not actually increase the value of their shares. ISS and Glass Lewis didn't respond to requests for comment. "Dexit" Hughes said SB 29 builds on last year's creation of a specialized Texas business court. He referred to the bill as "Dexit" at a hearing, a nod to companies like Tesla and TripAdvisor moving out of Delaware. Delaware's defenders say its laws are applied predictably and its courts are run by expert judges who are neither pro-management nor pro-shareholder. "We think we're putting the last pieces together to make Texas an attractive place for doing business," Hughes said. Brian Quinn, a law professor at Boston University, said the bills give corporate managers too much power for investors to be comfortable. He said they would turn Texas into a "rogues' gallery" like Nevada, which has been criticized over its lax, pro-management corporate laws. "Texas isn't competing with Delaware," said Quinn. "Texas is competing with Nevada." Babcock said Texas would still have stricter shareholder oversight than Nevada, noting that Texas directors must remain loyal to companies and can be more easily removed by shareholders. Glenn Hamer, who leads the Texas Association of Businesses, said at a hearing in March that "Delaware has blown it." "We have the best economy in the galaxy," he said. "If you have an internal issue, are you going to be better treated in Delaware or are you going to be better treated in a state that has become the economic engine of the United States of America?"
Yahoo
28-04-2025
- Business
- Yahoo
Alaska big-game hunters may get permanent state license regulator
Sen. Jesse Bjorkman, R-Nikiski, speaks Wednesday, April 23, 2025, on the floor of the Alaska Senate. (Photo by James Brooks/Alaska Beacon) Alaska is known for its big-game hunting, and the state's commercial hunting guide industry may soon get a permanent top regulator. On Wednesday, the Alaska Senate voted 20-0 to change state law and require that Alaska's Big Game Commercial Services Board have a permanent executive director. The board is in charge of licensing commercial hunting guides, assistant guides and transporters. Since 2024, the state budget has included funding for a temporary executive director, but if Senate Bill 29 becomes law, the Alaska Department of Commerce, Community, and Economic Development would be required to have a permanent executive director for the big game board. Several other regulated industries already have boards with permanent executive directors, and the cost of the director would be paid for with fees, said Sen. Jesse Bjorkman, R-Nikiski and the sponsor of SB 29. The bill was supported by Safari Club International, the Alaska Professional Hunters Association and other trade groups. SB 29 is awaiting a hearing in the House Resources Committee. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
